Chicago Chapter Newsletters
Payroll
news and views from the Chicago Chapter
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It Pay$ To KnowDecember, 2005 |
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Chicago ChapterAmerican Payroll Association |
P. O. Box 836 – Chicago, IL 60690 – (773) 631-8480 |
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Notes fromour Board |
A look in the rear view mirror! As 2005 is quickly turning into 2006, CAPA (Chicago Chapter APA) truly had the “Drive in 05”. Currently at a rest stop, we reflect back with much appreciation to you, our members. Your dedication, sharing and caring fueled our spirits. The Chapter was graced with wonderful presentations from APA speakers, including Kathy Menda, CPP, APA President, and others whom are experts in their fields. Our four meetings were hosted by various vendors, which welcomed us into their office space. Our CPP/FPC Review Classes were very successful! National Payroll week was a blend of educational, networking and community service opportunities. The Chapter requested fifty proclamations and was granted fifteen. We had opportunities to meet some local Mayors and share with their communities the importance of our profession. Your dedication, spanned beyond professionalism, into the human spirit, with your generosity to our charitable donations. We assisted in relief for the Tsunami Fund, shared in a shoe drive, worked the Jerry Lewis Telethon and for the Holidays will be sending three boxes of books collected to an elementary school in Louisiana. The books will help the students whom were victims of Hurricane Katrina. Our Holiday event was the last gathering for 2005, and was an evening to celebrate the accomplishments of our members, volunteers and sponsors. The Off the Street Club staff and members joined us, and again our members opened their hearts and gave toys to the children. This is a condensed version of the year. Petroleum is a hot commodity these days and that holds true for the energy and fuel, you as members provide to our Chapter. You have made 2005, a rewarding and memorable journey. We look forward with great anticipation to 2006. Have a Wonderful Holiday Season!
Mary Kazmierczak,
CPP |
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2005 Holiday Party |
FPC/CPP Recognition Dinner & Holiday BenefitThe Chicago Chapter held its annual CPP/FPC Recognition Dinner and Holiday Benefit on November 18th. It was a wonderful evening. The Wellington provided exceptional food from the appetizers to the desserts. We presented FPC and CPP pins to those who had passed their respective exams. Two members who had not receive their pins when they past their tests were part of the group that received pins. We recognized our FPC and CPP class instructors and the vendors who support us in 2005. There were many door prizes given away. Michael O’Toole, Esq. and author of the ‘Payroll Source Book’ was our keynote speaker. Congratulations to Paula Black, CPP, who won the drawing from The Chicago Chapter APA and will receive a free entrance, including hotel stay, into the 2006 Illinois Statewide Conference being hosted by the Chicago Chapter. The conference is being held September 20-22 in Hoffman Estates. Thanks to your generosity, The Off The Street Club received many, many donations for the December 24th Children’s event. Thank you to everyone who donated a toy. I’m sure there are a lot of happy children who had a Merry Christmas this year. We have booked The Wellington for next year’s dinner. So mark your calendar for November 17, 2006. We plan on having even better entertain and more raffles. It is a great way for you and a guest or maybe your department to start the holidays before all the year-end processing. Hopefully you can plan on attending this fun evening. |
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Volunteer Opportunity |
Book Donations
Thank You to the
members that have donated books to our book drive. We are sending
the books to a special school. The school is Woodmere Elementary
School in Marrero, LA.
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2006 CPP and FPC Review Classes
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2006 CPP and FPC Review Classes CPP (Certified Payroll Professional)
The Chicago Chapter Review Class for the Spring 2006 CPP Certification test will be held at ADP, 100 Northwest Point Blvd, Elk Grove Village, IL 60007 on the following dates:
February 4, 2006
----8:30 - 5:00 February 18, 2006 ----8:30 - 5:00
Continental
breakfast begins at 8:30, class begins at 9:00 The Certified Payroll Professional Exam and the Chapter’s Review Course are designed to educate payroll professionals on the various subjects and create a standard measure of overall payroll competency. The CPP exam covers the following topics: •Payroll Fundamentals and Operations •Fundamentals for Calculation of Paychecks •Tax and Regulatory Compliance •Accounting •Payroll and Supporting Systems •Management and Administration
If you wish to join the Chicago Chapter - $315.00 (includes the class fee and $40.00 dues)
FPC (Fundamental Payroll Certification)
The Chicago
Chapter FPC review class for the Spring 2006 FPC Certification test
will be held at ADP,
100 Northwest Point Blvd, Elk Grove Village, IL 60007
on the following dates:
Continental
breakfast begins at 8:30, class begins at 9:00
FPC Review Class
Fees: To register for either class, please mail the completed attached registration form and your check, made payable to the Chicago Chapter APA, to the Chicago Chapter, PO Box 836, Chicago, IL 60690-0836. CLASS SIZE IS LIMITED SO SIGN UP EARLY! TO REGISTER, PLEASE FILL IN ALL THE REQUIRED INFORMATION AND MAIL WITH YOUR PAYMENT BY JANUARY 31, 2006. |
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2006 Dues
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Annual Membership Dues Membership fees for the 2006 calendar year are due by January 31, 2006. If you have already paid your dues, thank you. Dues for 2006 will be $40.00. Remember, your dues cover such items as postage, invitations, the website, telephone hotline for those tough questions, post office box, CPP and FPC pins, career development and networking with great people. Please mail the completed attached form and your check, made payable to the Chicago Chapter APA, to the Chicago Chapter, PO Box 836, Chicago, IL 60690-0836. A membership form is also available at our website: www.chicagopayroll.com We are excited this year to announce a special referral program! A “referred by” section has been added to the membership form. Each time a new membership (anyone who was not a member in 2005) indicates that they were referred by you, your name will be added to a drawing. The drawing will be held at our Holiday Party for a $ 50 Gift Certificate.
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Article by Martin Rule |
5 Common Steps for Conducting Tax Research As payroll professionals we all have various responsibilities from the preparation and distribution of paychecks to reporting and remitting employment taxes. One of our most challenging responsibilities is complying with federal, state and local employment tax provisions. The first step in compliance is to understand the provisions of each jurisdiction where you are paying wages. To gain an understanding of your compliance requirements you will need to do some research. Below is a commonly used five step approach for conducting tax research: Obtain all the facts.a) Determine the amount and dates of disbursements made to employees or non-employees b) Obtain supporting documents (i.e. receipts, expense reports etc.) c) Identify taxing jurisdictions (i.e. federal, state and local) Diagnose the problem from the facts and determine the issues that need to be resolveda) Recognition and reporting of wages b) Exclusion from wages c) Obligation to withhold
d)
Obligation to report Locate the appropriate authority. In other words, determine the appropriate authority within the jurisdiction (i.e. Internal Revenue Code or state statutes)a) Primary levels of authority (The law) Ø Internal Revenue Code Ø Case law Ø Treaties Ø State statutes Ø Local ordinances b) Secondary sources (Commentary and other sources) Ø Tax services (i.e. BNA, CCH, RIA or Lexis Nexus) Ø News Letters or Articles Ø Textbooks Evaluate the authority.a) Evaluate the weight of the authority (i.e. The Internal Revenue Code or state statutes will have more authority than tax form instructions or commentary from tax services) b) Choose the most authoritative support for each solution Derive the solutiona) Based on the facts and other business realities, derive a solution b) Multiple solutions may be established, however you should choose the most supportable solution These five steps are meant to be a general guideline and may not meet the objectives of every research project. However these steps should provide you with a starting point. In addition the following is a list of some very useful internet links that may help you with your research projects: – www.irs.gov Internal Revenue Service. This is a great resource for forms and publications. The search function on the website is not the best but should help you narrow down your research. – www.ssa.gov/bso/bsowelcome.htm Social Security Administration. The Business Services Online site provides great information regarding wage reporting requirements for the SSA. – www.dol.gov Department of Labor. Great resource for the Fair Labor Standards act regarding federal minimum wage and overtime rules. – www.americanpayroll.org American Payroll Association. If you don’t have this link book marked you are missing out. There is great information on the Payroll Profession as well as excellent links to federal and state agencies. – www.taxsites.com Tax and Accounting Sites Directory. This link has several useful accounting and tax links. – www.paycheckcity.com Paycheckcity.com. Free paycheck calculator for your manual paychecks. |
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Government Updates
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2006 Fast Wage Facts….
The web address is: www.taxtalktoday.tv
----------------------------------------------------------------------------------------------- More Government Updates Pension Reform – 401(k), 403(b), SEPs, 457 Plans and SIMPLE plans
2005 2006 Catch- up 401(k), 403(b), 457 SEPs Deferral Limits $14,000 $ 15,000 $5,000
Simple Plans Deferral Limits $10,000 $ 10,000 $ 2,500
2006 Annual Compensation under section 401: $220,000.00 2006 Standard Mileage Rates WASHINGTON — The Internal Revenue Service today issued the 2006 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning Jan. 1, 2006, the standard mileage rates for the use of a car (including vans, pickups or panel trucks) will be:
The new rate for business miles compares to a rate of 40.5 cents per mile for the first eight months of 2005. In September, the IRS made a special one-time adjustment for the last four months of 2005, raising the rate for business miles to 48.5 cents per mile in response to a sharp increase in gas prices, which topped $3 a gallon. “The IRS took the extraordinary step of temporarily increasing the standard mileage rates in the aftermath of Hurricane Katrina,” IRS Commissioner Mark W. Everson said. “We promised to continue closely monitoring the situation. The 2006 mileage rates reflect that gas prices have dropped.” The standard mileage rates for business, medical and moving purposes are based on an annual study of the fixed and variable costs of operating an automobile. Runzheimer International, an independent contractor, conducted the study for the IRS. IRS Releases 2006 Federal Income Tax Withholding Tables, Pub. 15 The IRS has released the 2006 Circular E, Employer's Tax Guide (Pub. 15), which includes the federal wage-bracket (pp. 38-57) and percentage (pp. 36-37) method withholding tables effective for wages paid in 2006. The withholding allowance amounts by payroll period have changed for 2006. Also included in Circular E are the wage-bracket (pp. 60-65) and percentage (pp. 58-59) method tables for determining advance earned income credit (EIC) amounts. These tables are based on gross wages and do not require the deduction for withholding allowances. Advance EIC payments apply only to employees eligible for advance payments of the credit who have filed Form W-5, Earned Income Credit Advance Payment Certificate, with their employer. To download Circular E [Publication 15], as well as a table of withholding allowances for each payroll period provided by the APA [Allowance Table], go to: |
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2006 Events |
2006 Events
CPP Review Class
FPC
Review Class
Special Events
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2006 Statewide |
2006 Statewide
The 13th Annual Illinois Statewide Payroll Conference
For additional information please visit our website at:
www.chicagopayroll.com |
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The website always has the most up-to-date information about meeting times, dates, places, speakers, etc. Check it often for the latest news and information. |
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Join Us
Membership Application
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1. Complete all required information on this form |
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2. Print it out |
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3. $40.00 check payable to "Chicago Chapter, American Payroll Association" |
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4. Mail to: |
Chicago Chapter, American Payroll
Association
P.O. Box 836
Chicago, IL 60690-0836
(Please allow 5 days for mail delivery)
Questions? (773) 631-8480
chicago_chapter_apa@hotmail.com
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Registration Form for CPP Review Class/FPC Certification Review Class
CLASS SIZE IS LIMITED SO SIGN UP EARLY!
TO REGISTER, PLEASE TYPE IN THE REQUIRED INFORMATION, PRINT OUT & MAIL WITH YOUR PAYMENT.
Committees:
Please Volunteer
Chicago Chapter Hotline – (Christine O’Hara) The hotline committee will be responsible for accessing and answering the calls made to the Chapter’s voice mailbox. We are looking for volunteers that can agree to check voice mail at least once a day for a month and respond to the calls. This may include answering questions, recording attendees for meetings and forwarding messages to the Board as appropriate.
Meeting Planning – (Pat Bradberry) We are looking for volunteers that can help with planning the meetings including choosing topics and finding speakers, as well as finding locations for next years meetings.
National Payroll Week – (Christine O'Hara) We are looking for volunteers that can help with obtaining proclamations from the various cities and the State. We also have the privilege of talking with radio stations, newspapers and educational institutions to promote National Payroll Week. I have a great idea for next year’s Chapter activity. How about an Oberweis road show?
Audit Committee – (To be assigned) This group will audit the financial records of the Chapter.
Nomination committee – (To be assigned) This group of volunteers will verify the membership and credentials of those members wishing to run for election in August 2002.
Membership – (Lisa Dunn) This group will help promote membership in the Chicago Chapter.
Vendor Sponsorship – (Jenny Provenzano/Dennis Washington) This group will help solicit donations from organizations to help provide quality programming to you, our members.
Holiday Party – (Christine O'Hara) Volunteers will help plan this special event including entertainment, soliciting door prizes and location for next year.
Chapter
Dues
Remember,
the $40.00 fee for Chapter dues should be paid by January 31 of each year.
This insures you will continue receiving the Newsletter and updates
on the happenings in the Chapter.
Annual Membership Dues -
$40.00 Due 1/31/2006 -
Membership Application,
Chicago Chapter, American Payroll Association
- Type/write in the required information on this form or register via our website by clicking the "join us" button: www.chicagopayroll.com.
- $40.00 check payable to Chicago Chapter, American Payroll Association
- Mail to:
Chicago Chapter, American Payroll Association
P.O. Box 836
Chicago, IL 60690-0836
New Member ¡ Renewal ¡
APA Member ID# ________________
Today’s Date____________________ CPP: Yes No
Name: First_____________________
Last _______________________
Title: __________________________
Company:________________________________________________________
Address:_________________________________________________________
City:____________________________ State:___________ Zip:________
Work Phone:______________________________________
If you missed the deadline of 1/31/2006 that's okay - we'd love to have you as a member - so fill out this form and send it in.
We'd love to hear from you - e-mail us: chicago_chapter_apa@hotmail.com
with your suggestions for meeting topics, locations, and
speakers!
| Web Page created by Steve Mazik | Updated 1/2/06 |