Social Security Changes for the year 2001

The Social Security wage base for 2001 is $80,400, up from $76,200 in 2000.  Beginning January 1, 2001, employers should withhold Social Security taxes (6.2%) from employees wages up to $80,400 and withhold Medicare tax (1.45%) on all wages.  Employers must match the tax payments withheld from employee's wages.

E File form 941

Using and Internet connection and a Web browser, businesses can take advantage of e-filing their Form 941, Employers' Federal Quarterly Tax Return.. Users can either prepare and e-file Form 941 completely online or download eSmart form 941, complete it on their own computer, then e-file the data online.  Check it out at http://www.irs.gov/elec_svs/abp.html

2001 Form W-4

The 2001 version of form W-4 was mailed to employers along with the fourth quarter 941.  Lost your copy?  We can fax it to you, drop us a line at memmerick@ldcpa.com or try www.irs.gov

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Last modified: January 11, 2001