GLENVIEW, IL — March 11, 2009 — In anticipation of the upcoming "Making Work Pay" payroll tax adjustment in the federal stimulus act, online payroll service SurePayroll announced its small business customers will not have to worry about making any changes to their payroll set up.
Small business employers using SurePayroll don't have to do anything either before or after the federal stimulus credit takes effect. Customers can rest assured that SurePayroll will seamlessly handle all changes to payroll withholding requirements.
SurePayroll offers a full-service payroll solution for small business employers seeking to alleviate the stress associated with the intricacies of payroll, including regulation and compliance changes.
"This credit will certainly be welcome in the small business community, as employees will see slightly more in each of their paychecks," said SurePayroll President Michael Alter. "Implementing the credit will, however, be difficult for business owners that are still processing payroll on their own. Too often, small business owners have to spend needless time worrying about the little things that are best outsourced to a professional. Using a payroll service, such as SurePayroll, saves them both time and money since we're already handling these kinds of things on a day-to-day basis and know the most appropriate actions to take."
For 2009 and 2010, the Making Work Pay provision of the American Recovery and Reinvestment Act will provide a refundable tax credit of up to $400 for working individuals and $800 for married taxpayers filing joint returns. Some individuals will not be eligible for the credit, however, including those who earn in excess of $75,000, or have a combined income in excess of $150,000 if married. Starting no later than April 1, employers will be responsible for withholding changes for their employees who are eligible for the credit, receive a paycheck, and are subject to withholding.
In addition to the new payroll provision to reduce federal income taxes, the new stimulus law requires employers to pay the upfront cost to subsidize laid-off workers on COBRA. The subsidy will call for employers to pay 65%, which will be reimbursed later.
SurePayroll will inform its small business clients of any actions taken on their behalf to comply with the law, which is retroactive to September 1, 2008.
"With our current economy, we can expect additional changes associated with payroll and taxes," said Alter. "For the small business employer, there's no time like the present to outsource necessary but often burdensome tasks such as payroll. Small businesses will play a large role in economic recovery. It's best if they can concentrate on more important parts of their business, and let us own their payroll worries."
About SurePayroll:
SurePayroll is the online alternative to ADP® and Paychex®. SurePayroll's service and team members are dedicated to providing an easy, convenient online payroll service at a price small business owners can afford. Tens of thousands of customers rely on SurePayroll to process payroll wherever they want in as few as two minutes.
In addition, SurePayroll offers small businesses solutions for managing 401(k) plans, health insurance, workers' compensation, HR compliance and employee screening. For accountants and banking partners, SurePayroll provides private-label services that enable them to offer payroll processing to their small business clients.
Over the last decade, SurePayroll has received numerous prestigious awards for its innovative technology and outstanding customer service, including recognition from PC Magazine, Inc. 500, Accounting Today, the Stevie Awards and many others.
For more information, you can visit http://www.surepayroll.com, call 877.954.7873 or follow us on http://twitter.com/SurePayroll.
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