Simple and Feature-loaded Payroll Software for Small Businesses

Payroll Software

Subscribe to Payroll Software: eMailAlertsEmail Alerts newslettersWeekly Newsletters
Get Payroll Software: homepageHomepage mobileMobile rssRSS facebookFacebook twitterTwitter linkedinLinkedIn


Payroll Software Authors: Casey Yang

Blog Post

Year 2011 Form 941 Changed, What Is New

Small Business Owners Must Know

Form 941 - Employer's QUARTERLY Federal Tax Return

What's New

Social security and Medicare tax for 2011. The employee tax rate for social security is 4.2%. The employer tax rate for social security remains unchanged at 6.2%. The Medicare tax rate is 1.45% each for employers and employees.

Section 3121(q) Notice and Demand - Tax due on unreported tips. A new line has been added to Form 941 for reporting social security and Medicare taxes on unreported tips.

COBRA premium assistance credit.

Advance payment of earned income credit (EIC). The option of receiving advance payroll payments of EIC is no longer available after December 31, 2010.

Federal tax deposits must be made by electronic funds transfer

Learn more at:  http://www.halfpricesoft.com/business-blog/post/2011/03/15/What-is-new-with-Year-2011-Form-941.aspx

More Stories By Casey Yang

I work for halfpricesoft.com. Halfpricesoft.com is a leading provider of easy-to-use 1099, W2 and Payroll Software solutions for accountants and small to medium size businesses. And its small business software can save user both time and money. For more information, visit http://www.halfpricesoft.com