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U.S. Master Payroll Guide (2011)
This one-source resource to payroll is part of CCH's Master Series of professional guidebooks. You'll find everything you need to know about payroll from employers and their obligations to payroll withholding and tax deposits to payroll management and administration issues.
The House has passed the Affordable Health Care for America Act, (H.R. 3962) on November 7, 2009. As we go to press, the Senate has not debated or passed its version of health care reform. The bill is intended to provide health care insurance for 96% percent of Americans. It would be paid for by, among other things, an income tax increase for high income earners, changes to information reporting requirements for corporations, limiting contributions to flexible spending accounts, penalties paid by employers who don't obtain coverage, a 2.5% penalty on the income of individuals who don’t purchase insurance, and several other corporate taxes and fees. More details on the payroll-related provisions will be reported in the CCH Payroll Management Guide Report Letter on CD Rom/Internet in future releases.
Employers to provide coverage
Employers would be required to provide insurance to employees or pay a penalty of 8% of payroll. Employers with payrolls under $500,000 annually would be exempt. The penalty would be phased in for employers with payrolls between $500,000 and $750,000. Small employers with 10 or fewer workers would get tax credits to help provide coverage.
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