Vision Payroll

The Internal Revenue Service recently released Rev. Proc. 2011-32 which contained the 2012 inflation adjusted amounts for Health Savings Accounts or HSAs.

Deductions Limitation Set to Increase

The annual limitation on deductions will increase from $3,050 in 2011 to $3,100 in 2012 for those with self-only coverage. Those with family coverage will have the deduction limitation increase from $6,150 to $6,250.

High-Deductible Health Plan Minimum Deductibles Unchanged

The minimum deductibles of a high deductible health plan will see no change; they will remain at a minimum deductible of $1,200 in 2012 for self-only coverage and $2,400 for family coverage.

Annual Out-of-Pocket Limitation to Increase

The annual out-of-pocket limitation for 2012 will also increase from $5,950 in 2011 to $6,050 for those with self-only coverage; the out-of-pocket limitation for family coverage will increase from $11,900 to $12,100.

Contact Vision Payroll Today

Contact Vision Payroll if you have any questions on the updated 2012 inflation adjusted amounts for HSAs in Rev. Proc. 2011-32 or visit our Important Facts and Figures page for further information.

Monday, May 30, 2011 will be Memorial Day, a federal holiday. The offices of Vision Payroll will close Friday May 27 at 5 pm EDT and re-open Tuesday May 31. Most banks will also be closed in observance of the holiday.

Date Paid	Process Deadline
5/30/2011	5/25/2011
5/31/2011	5/25/2011
6/01/2011	5/26/2011

Payroll Dates May Be Affected by Memorial Day

Payrolls dated May 30 will be paid May 27 unless a previous change in schedule has been submitted. Payrolls submitted after these processing deadlines will be pushed back until the next available processing day. No changes are required for payrolls dated June 2.

Independence Day Is Next Federal Holiday

The next federal holiday will be Monday, July 4, 2011, celebration of Independence Day. Contact Vision Payroll as soon as possible to make changes to or for questions on your processing schedule.

Due to the damage caused by the severe storms, tornadoes, and associated flooding, in Arkansas on April 14, 2011, President Barack Obama declared the following counties a federal disaster area: Arkansas, Benton, Boone, Carroll, Chicot, Clark, Clay, Crawford, Crittenden, Cross, Dallas, Desha, Faulkner, Garland, Greene, Hot Spring, Independence, Jackson, Jefferson, Lawrence, Lee, Lincoln, Lonoke, Madison, Mississippi, Monroe Montgomery, Phillips, Poinsett, Prairie, Pulaski, Randolph, St. Francis, Saline, Washington, White and Woodruff.

Declaration Leads to Extension of Payroll Tax and Other Deadlines

Therefore, the Internal Revenue Service (IRS) announced recently that it will waive failure to deposit penalties for employment and excise taxes due after April 13, 2011 and before May 10, 2011 as long as the deposits were made by May 9, 2011. In addition, affected taxpayers have until June 30, 2011 to file most tax returns.

Vision Payroll is Here to Help Affected Taxpayers with Payroll Tax Issues

Contact Vision Payroll if you were affected by the severe storms, flooding, and associated flooding and need further information on the relief provided by the IRS.

Due to the damage caused by the severe storms, tornadoes, straight-line winds, and associated flooding, in Tennessee on April 25, 2011, President Barack Obama declared the following counties a federal disaster area: Bledsoe, Bradley, Carroll, Cocke, Crockett, Greene, Hamilton, Hardin, Henry, Johnson, Knox, McMinn, Madison, Monroe, Montgomery, Rhea and Washington.

Declaration Leads to Extension of Payroll Tax and Other Deadlines

Therefore, the Internal Revenue Service (IRS) announced recently that it will waive failure to deposit penalties for employment and excise taxes due after April 24, 2011 and before May 11, 2011 as long as the deposits were made by May 10, 2011. In addition, affected taxpayers have until June 30, 2011 to file most tax returns.

Vision Payroll is Here to Help Affected Taxpayers with Payroll Tax Issues

Contact Vision Payroll if you were affected by the severe storms, flooding, straight-line winds, and associated flooding and need further information on the relief provided by the IRS.

Due to the damage caused by the severe storms, tornadoes, straight-line winds, and associated flooding in Mississippi on April 15, 2011, President Barack Obama declared the following counties a federal disaster area: Alcorn, Attala, Chickasaw, Choctaw, Clarke, Clay, Coahoma, DeSoto, Greene, Grenada, Hinds, Holmes, Jasper, Kemper, Lafayette, Leflore, Marshall, Monroe, Montgomery, Neshoba, Newton, Panola, Quitman, Smith, Sunflower, Tishomingo, Tunica, Webster and, Winston.

Declaration Leads to Extension of Payroll Tax and Other Deadlines

Therefore, the Internal Revenue Service (IRS) announced recently that it will waive failure to deposit penalties for employment and excise taxes due after April 26, 2011 and before May 3, 2011 as long as the deposits were made by May 2, 2011. In addition, affected taxpayers have until June 30, 2011 to file most tax returns.

Vision Payroll is Here to Help Affected Taxpayers with Payroll Tax Issues

Contact Vision Payroll if you were affected by the severe storms, flooding, straight-line winds, and associated flooding and need further information on the relief provided by the IRS.

Due to the damage caused by the severe storms, tornadoes, straight-line winds, and associated flooding, in Georgia on April 27, 2011, President Barack Obama declared the following counties a federal disaster area: Bartow, Catoosa, Cherokee, Coweta, Dade, Floyd, Gordon, Greene, Harris, Habersham, Heard, Lamar, Lumpkin, Meriwether, Monroe, Morgan, Newton, Pickens, Polk, Rabun, Spalding, Troup, Upson, Walker and White.

Declaration Leads to Extension of Payroll Tax and Other Deadlines

Therefore, the Internal Revenue Service (IRS) announced recently that it will waive failure to deposit penalties for employment and excise taxes due after April 26, 2011 and before May 13, 2011 as long as the deposits were made by May 12, 2011. In addition, affected taxpayers have until June 30, 2011 to file most tax returns.

Vision Payroll is Here to Help Affected Taxpayers with Payroll Tax Issues

Contact Vision Payroll if you were affected by the severe storms, flooding, straight-line winds, and associated flooding and need further information on the relief provided by the IRS.