I wish that the Indiana Department of Workforce Development would stop wreaking havoc on the State’s small business employers. Their recent announcement about unemployment tax rates for next year is surely going to cause mass confusion and migraine headaches for anyone processing payroll during the first quarter of 2010.
And many business owners won’t even realize what’s happening because the official notice was so late in arriving, poorly worded, and, frankly, rather unbelievable (IMHO).
Warning to Indiana employers: The notice I’m talking about is NOT like the one you normally get each November that tells you what your tax rate will be for the following year. This notice contains unofficial rates only and says that your rate might change as well as the wage base (currently $7000) that the rate applies to. IDWD states that they’ll tell you the final numbers no later than the end of March 2010.
That means there’s a possibility that your payroll system will be using incorrect numbers for three months! I urge you to discuss this situation with your CPA and your payroll department or payroll service provider ASAP.
