Brandy Hatfield has received her Certified Public Accountant designation from the Georgia State Board of Accountancy. Brandy joined Loggins in 2005 as an Intern and was soon promoted to Staff Accountant. She graduated from Clayton State University in 2007 with a BBA in Accounting. Brandy lives in McDonough with husband, James and their son, Deacon. Brandy enjoys volunteering at Deacon’s school and PTO.
The IRS announced on July 25th that it will extend help to more innocent spouses by eliminating the two-year time limit that applies to certain relief requests. The change is effective immediately.
”In recent months, it became clear to me that we need to make significant changes involving innocent spouse relief,” said IRS Commissioner Doug Shulman. “This change is a dramatic step to improve our process to make it fairer for an important group of taxpayers. We know these are difficult situations for people to face, and today’s change will help innocent spouses victimized in the past, present and the future.”
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Effective July 1, 2011, the FUTA rate will lower from 6.2% to 6.0% on the first $7,000 of wages paid to an employee.
In 1976, the government added a “temporary” 0.2% surtax to FUTA (Federal Unemployment Tax Act) to repay unemployment benefits paid out during the 1973-1975 recession. Although the “debt” was fully repaid in 1987, the surtax remained in effect until the end of last month. After being extended eight times over the past 35 years, the House refused to extend any further past this most recent expiration date. House Ways and Means Committee Chairman Dave Camp (R-MIch) stated, “We need employers paying more salaries, not paying higher taxes.”
Be sure to run necessary updates within your accounting software (QuickBooks, Peachtree, etc.) to reflect this change.
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