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Download the PDF below for more information on the new Health Insurance Marketplace Coverage Options.
Exchange or Marketplace Notices due prior to October 1st.
Pay USA Warns of Identity Theft Scam
Pay USA, Inc. today announced that they have been made aware of a scam involving an organization using the Pay USA name under the auspices of a job posting to elicit information used in an identity theft scheme.
Pay USA is in no way related to the organization placing these fraudulent job postings and is working directly with authorities to assist in the capture and criminal prosecution of the parties involved.
To date, the following fraudulent emails have been identified:
If you are contacted by this fraudulent perpetrator, Pay USA asks that you please take the following actions:
1) Do not respond to the job posting or provide any information to the perpetrator
2) Send an email to Pay USA at informing us of the incident providing us with a copy of the posting, the date, time and method of communication such as the "url" where it exists or the email address and phone number associated with the posting.
3) Report the incident to your local law enforcement agency.
Thank you for assisting our efforts to prevent this identity theft scheme.
PayUSA President Quoted in Philly.com
Christian C. Hoyt, President of PayUSA was quoted in philly.com regarding a question about the Social Security tax increase and its effect on employee wages. Check out the question and answer session with him and other payroll professionals in the area. Good information!
Form W-2 Reporting of Employer-Sponsored Health Coverage
The Affordable Care Act requires employers to report the cost of coverage under an employer-sponsored group health plan. Reporting the cost of health care coverage on the Form W-2 does not mean that the coverage is taxable. The value of the employer's excludable contribution to health coverage continues to be excludable from an employee's income, and it is not taxable. This reporting is for informational purposes only and will provide employees useful and comparable consumer information on the cost of their health care coverage.
Employers that provide "applicable employer-sponsored coverage" under a group health plan are subject to the reporting requirement. This includes businesses, tax-exempt organizations, and federal, state and local government entities (except with respect to plans maintained primarily for members of the military and their families). However, federally recognized Indian tribal governments are not subject to this requirement.http://www.irs.gov/uac/Form-W-2-Reporting-of-Employer-Sponsored-Health-Cove rage
IRS Announces 2013 Pension Plan Limitations
Taxpayers May Contribute Up to $17,500 to Their 401(k) Plans in 2013
(IR-2012-77, 10/18/12) WASHINGTON - The Internal Revenue Service today announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2013. In general, many of the pension plan limitations will change for 2013 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. However, other limitations will remain unchanged because the increase in the index did not meet the statutory thresholds that trigger their adjustment.http://www.irs.gov/uac/2013-Pension-Plan-Limitations
ATTENTION NY STATE EMPLOYERS! NY MTA Protective Claim Notice
The Metropolitan Commuter Transportation Mobility Tax is a payroll tax imposed on certain employers engaging in business within the Metropolitan Commuter Transportation District. On August 22, 2012 a Nassau County Supreme Court decision found the tax to be unconstitutional. Although the litigation has not been concluded and the State is planning to appeal the decision, taxpayers should continue to pay and file their returns.
***If you are a company located in the NY State Metropolitan area you may wish to file a Protective Claim to retain your ability to obtain a refund in the event that the litigation is upheld.
The State has provided the following link and information regarding filing a protective claim:
The State has noted that there is no paper refund claim option. Do not file a protective claim for refund by amending your MCTMT return(s). An amended return is not a valid protective claim for refund. If one was already submitted, you should re-file.
IMPORTANT! PA employers MUST READ
Pennsylvania Act 32
PA Act 32 will change the way local taxes are withheld in the state of PA. Look for an informational package in your mail about what you need to do to comply with the changes. For additional instructions, click here.