Posts by Arthur Lopez3

Linda Moore31 said:Hey, could you drop the link to those instructions? I'm having zero luck finding them myself!

I can't seem to grab the link directly from their site, but it’s right there—just look for the first PDF sitting just beneath the login button.

The Treasury Department updated their digital signature process on April 14th. You don't even need to bother installing Java anymore. They actually posted instructions, and honestly, they’re surprisingly easy to follow.

A new version of Java dropped yesterday.

If you’re running GE don't bother with the update because the signing process will fail.

Sophia Ortiz said:Are we responsible for manually updating employee addresses in the health insurance filings, or does Medicare handle those changes automatically?
Also, regarding enrollment for family members—does the employer manage that process, or is it handled by Medicare automatically, just like the employee's own coverage?

As far as I know, there isn't any automation involved here.
Medicare has no way of knowing if an employee moved or changed their last name, let alone who their dependents are.

Correct me if I'm wrong.

Reporting changes for insured individuals or adding and removing dependents can be done through the online portal.

Make sure you double-check that Medicare & Medicaid Services actually pulled your enrollment or cancellation data from the U.S. Census Bureau. We had a situation at our office where they missed an enrollment once, and just yesterday, they failed to process a cancellation entirely. Everything looked perfect on the Census Bureau online portal. They told us this kind of glitch happens from time to time.

Here’s how I check it. I have a card from FINRA and I use IE

In IE, navigate to Tools internet options Content Certificates
You'll see a list of certificates there. Select one and click View, then hit Details
That shows you the issuer and the expiration date, among other things.

Alternatively:
Launch ActivClient
Select View my certificates
Right-click the certificate and choose View this certificate
And there you go—you can see the issuer and the validity period right there.

I actually just got an email from FINRA today about my certificate expiring. Mine runs out on February 19th.
As far as I know, those notifications go to whatever email address is linked to your card. You might be using an old one, which would explain why you haven't seen anything yet.

I need some advice here
An employee under 30 is transitioning to a permanent contract starting January 1st. We handled the update through HealthCare.gov.
Question: Do I actually need to bring physical paperwork to Medicare, or does the system update automatically?

Carol Price4 said:Starting January 1, 2016, anyone running their own business—whether they're reporting based on gross income or net profit—is responsible for calculating their own payroll tax and health insurance contributions.

- These folks handle their own math, put together monthly reports—basically their W-2 filings—and send them straight to the IRS
- The payment deadlines haven't shifted, so you'll still need to have those contributions paid up by the 15th of each month for the previous month's work

Here’s how the monthly bases for self-employment insurance contributions look for 2016:

Small business owners (gross income) = $1741 (using a 0.65 multiplier)
Small business owners (net profit) = $2947 (using a 1.1 multiplier)
Freelancers (gross income) = $2947 (using a 1.1 multiplier)

Due to some updates in the regulations regarding how government revenue and mandatory contributions are handled, new specific tax codes for self-employed individuals were added, effective January 1, 2016.

8230 Social Security contribution (Part I)
2330 Social Security contribution (Part II)
8796 Employment tax
8605 payroll tax and health insurance contributions
8133 payroll tax and health insurance contributions

Annual Tax Return

- In Attachment UPO under section 971, we're looking at determining the income tax prepayments for self-employment for the upcoming tax year.
- They also updated the "Long-term Asset List."
- There's a new required form—Form P-PPI—which is basically a summary of all business income and expenses for the year; freelancers have to attach this to their annual return (Form DOH).

- Self-employed taxpayers pay their determined income tax when they file their annual return (which is due by February 29, 2016).
- For those specifically covered under Article 18, once the deadline for filing the 2015 annual return passes, any previous notices regarding income tax prepayments become void.
- Starting in March 2016, monthly prepayments will be calculated based on the numbers from the filed 2015 annual return.
- You'll start paying this monthly prepayment starting March 2016, which is also when you submit your W-2 (funds move from account 1430 to 1619).

- Income tax prepayments are due monthly by the last day of the following month, based on what was reported in the previous year's annual return—essentially, the 2015 tax liability is just split across the months you actually worked.
- If a taxpayer lists other types of income alongside their self-employment earnings on the annual return, the prepayment for the next period is only calculated based on the self-employment portion.
- These monthly prepayments cover the months immediately following the annual return deadline (so for 2016, that means March 2016 through February 2017).

Source: RIPUP, Milivoj Friganović, M.Sc.

Is this a mistake, or are we actually going to have to file Form 941 for income tax prepayments too?
I can't find any extra details anywhere. Every single resource I look at only mentions payroll taxes (starting in February for January's figures)