Government News

2019 Federal Rates

  • SSA wage base $132,900

  • Employee SS rate 6.2%

  • Employer SS rate unchanged 6.2%

  • Medicare rate 1.45%

  • Medicare rate for wages greater than $200,000  2.35%

  • Standard business mileage rate 58 cents per mile

  • Medical or Moving mileage rate 20 cents per mile

  • Service of charitable organizations mileage rate 14 cents per mile


 2019 RevenuE Fringe Benefit

  • Adoption credit-$14,080

  • FSA Limit- $2,700

  • Parking- $265.00

  • Transit Passes-$260.00

  • Medical Savings Accounts
    • High Deductible
      • Individual-$2,350-3,500
      • Family-$,4650-$7,000
    • Maximum Out-of-Pocket
      • Individual coverage-$4,650
      • Family- $8,550

 


Pension Plan, Deferral Limits Announced for 2019

IRS announced the 2019 Pension Limits. See the list below.  

Traditional and Roth IRA contributions-$6,000

Traditional and Roth IRA catch-up contributions-$1,000

Annual additions under IRC Sec. 415(c)(1)(A) for defined contribution plans: $56,000 

Annual additions under IRC Sec. 415(b)(1)(A) for defined benefit pension plans: $225,000

Annual IRC Sec. 402(g) deferral limit for 401(k), 403(b) and 457(b) plans: $19,000 

Catch-up contributions to 401(k), 403(b) and 457(b) plans: $6,000 

Annual deferral limit for SIMPLE IRA and SIMPLE 401(k) plans: $13,000 

Catch-up contributions for SIMPLE IRA and SIMPLE 401(k) plans: $3,000 

IRC Sec. 401(a)(17) compensation cap: $280,000 

Highly compensated employee definition income threshold: $125,000 

Top-heavy determination key employee definition income threshold: $180,000 

SEP plan employee income threshold for benefit eligibility: $600 

For more information please visit the IRS Notice 2018-83.   


2018 FUTA Credit Reduction States

On November 2, 2017, the U.S. Department of Labor (DOL) announced Virgin Islands is the only state/territory subject to the  FUTA credit reduction for 2018.  This means the employers in these states will be required to pay additional FUTA taxes in 4th quarter FUTA tax deposit due no later than January 31, 2019.

The reasons why the employers are subject to this tax is due to Virgin Island unable to pay back the outstanding federal unemployment loans by November 10, 2018.  Below is Virgin Islands Futa credit reduction rate along with their FUTA rate for 2018. 

State/Territory

2018 Credit Reduction

2018 FUTA Rate

Virgin   Islands

2.1%

 2.7%

Virgin Islands requested a waiver of the additional Benefit Cost Rate (BCR) for 2018 and were approved.


State Updates

The following states below have announced their 2019 Wage Base Limits

Alaska            39,900            New York                  11,400

Colorado       13,100             North Carolina          24,300

Hawaii           46,800             North Dakota            36,400

Idaho              40,000            Oklahoma                 18,100

Iowa               30,600            Oregon                      40,600

Kentucky       10,500            Rhode Island           *23,600

Minnesota     34,000            Utah                           35,300

Missouri        12,000            Vermont                     15,600 

Montana        33,000            Virgin Island             24,200

Nevada          31,200            Washington              49,800

New Jersey   34,400            Wyoming                   24,400

New Mexico  24,800

*Rhode Island- $25, 100 for employers in the highest UI tax rate group.


Forms & Publications

Form 1096

Form 1099 Misc.

Form I-9

Form W-2

Form W-2C

Form W-3

Form W-4

Form W-2  W-3 Instructions

Form WH347

Form 940

Form 940 (Schedule A)

Form 941

Form 941 Instructions

Form 941 Schedule B

Form 943

Form 943 Instructions

Form 944

Form 944 Instructions

Publication 15 (Circular E), Employer's Tax Guide

Publication 15-A Employer's Supplemental Tax Guide

Publication 15-B Employer's Tax Guide to Fringe Benefits

Publication 509 Tax Calendars

 


 

Resource Links

401K Helper

American Payroll Association (APA)

APA's new website on Paycards

Direct Deposit Information 

EEOC 

Employment Taxes

Department of Labor

Federal Office of Child Support Enforcement

Federal Tax Withholding

IRS 

IRS Services Guide

NACHA

National Archive & Records Administration 

Society for Human Resource Management (SHRM)

State New Hire Reporting Websites

VA-4 Employee's Withholding Exemption Certificate

Virginia New Hire Form

Virginia Statewide Payroll Conference

Unclaimed Property

US Dept of Health & Human Services  

US Immigration


Resource Material

Bloomberg BNA 

IRS Service Guide

RIA and WG&L

Wolters Kluwer CCH Payroll Management Guide


Virginia Statewide Payroll conference Affiliated APA Chapters

Colonial Capital Chapter

Hampton Roads Chapter

Richmond Chapter

Shenandoah Valley Chapter of the APA

Southwest Virginia Chapter of the APA

Washington Metro Area Chapter

Charles Town West Virginia Chapter