MMC, Inc. HR Tips Volume I Issue 2

January 2009  

New Year Reminders

Written by: Michele O'Donnell, M.S. Human Resources Management

As the new year begins, MMC would like to remind our dedicated  readers about some important upcoming dates.  

W-2 Year End Wage Statements

These must be provided to employees no later than February 2, 2009 as January 31, 2009 is a Saturday. (For MMC clients, we will mail all applicable W-2 forms to employee’s home addresses no later than January 31, 2009.) 

W-4 Employee’s Withholding Allowance Certificate 

If an employee is claiming “exempt” from Federal Taxes a new W-4 form is required to be  completed by February 15, 2009 to retain the exempt status. 

Annual Employee Limits for 2008
Business Mileage Reimbursement               .55 cents per mile
Basic Deferral Limit for 401(k)                         $16,500
Age 50 Catch up Limit for 401(k)                     $ 5,500
Social Security Wage Base                              $106,800 – Rate 6.2%

California State Disability (SDI) Wage Base $90,669 – Rate 1.1%

Federal Tax Filing Deadlines

By February 2nd (as January 31st is a Saturday)

• 941 – Employers Federal Quarterly Tax Return
• 940 – Employers Annual Federal Unemployment Tax Return (FUTA)

By March 2nd (as February 28th is a Saturday)

• W-3 and W-2 (employers copy) – file with the Social Security Administration*
  *If filed electronically, the deadline is extended to March 31st

For State tax filing deadlines check with your state and local tax filing agencies as these vary from state to state.

For any other questions, please feel free to contact us at: (888) 866-2476 or email us at: marketing@mmchr.com