Payroll Forms
Important Dates for the Next 12 Months
News and Updates
Federal EFTPS - January 2011
Firm Resources
Welcome to our resources page!

Here you will find our calendar of important events and deadlines, as well as news and updates on we found interesting and useful.
To:    Bapple & Bapple Clients

From:Matthew M. Bapple

Date: October 27, 2010

Re:    Federal EFTPS



Beginning in 2011, the Financial Management Service, a bureau of the US Department of the Treasury, has decided to eliminate the system that enables the processing of federal tax deposit (FTD) coupons. In response to this decision, The Treasury has proposed regulations which will require all depositors to use the electronic funds transfer (EFT) system.  These regulations are expected to be finalized by the end of 2010, and are expected to apply to any deposits made on or after January 1, 2011.
Because the new requirements are set to take effect in a little over two months, we encourage all of our clients to enroll in the federal EFTPS program as soon as possible. EFTPS is a free service provided by the US Department of the Treasury.  The service is available 24 hours a day 7 days a week, and allows businesses and individuals to make federal tax deposits online or by phone.
Although most taxpayers use FTD coupons for depositing payroll taxes, please be aware that the elimination of FTD coupons will also cause the following taxes to be paid by EFT (listing not all inclusive):
•Corporate income and estimated taxes
•Unrelated business income taxes of tax exempt organizations
•Private foundation excise taxes
•Taxes withheld on nonresident aliens and foreign corporations
•Estimated taxes on certain trusts
•Railroad retirement taxes
•Excise taxes reported on Form 720 Quarterly Federal Excise Tax Return
As you can see the elimination of FTD coupons will affect the majority of all businesses. 
We will be happy to assist you with the enrollment process, or you may wish to complete the process yourself.  Information regarding enrollment can be obtained at www.eftps.gov.




December 15, 2011




2012 Payroll Memo

Dear Client,

Above are the 2012 W-4's, WH-4's (for Indiana employers), IL-W-4’s (for Illinois employers), NC-4 (for North Carolina Employers), and I-9's.  Print copies of the attached forms and have all new employees fill out the W-4 and the appropriate state form.  We will need copies of these forms for our files as soon as possible. 

All new employees must also fill in the I-9 form and we will need a copy of this form for our files.  The I-9 form needs to be completed by the employee and the employer.  The instructions that come with this form give you the guidelines to follow.  Please make sure the employees have filled this form out completely and that you have verified their identification against the form.

The maximum Fica (OASDI) wage base will be $110,100.00 in 2012.  The Medicare rate applies to all wages since there is no limit on the amount of earnings subject to the Medicare portion.

Fica rate (OASDI)   Employer   6.2%
Medicare rate         Employer   1.45%
Fica rate (OASDI)   Employee  4.2%
Medicare rate         Employee  1.45%

If these forms have not been filled out completely or information has changed, a new form needs to be completed.  Please feel free to call us if you have any questions.



Very Truly Yours,


Sandra F Bapple


Sandra F. Bapple, CPA

SFB/sjs



To: Bapple & Bapple, Inc. Clients

From:    Rachael Kuchaes

Date:     May 17, 2011

Re:        Indiana CollegeChoice 529 Direct Savings Plan


The Indiana CollegeChoice 529 Direct Savings Plan is a program that is designed to help people save money for college.  These plans offer numerous tax advantages including: tax-deferred earnings, tax-free qualified withdrawals, and an income tax credit for Indiana residents who participate in the plan. 

An Indiana CollegeChoice 529 Direct Savings Plan may be opened with as little as $25 and the beneficiary may be any person you choose, including yourself.  Most people open accounts naming their children or grandchildren as beneficiaries.  If the designated beneficiary decides not to attend college, the account holder may name another beneficiary, as long as they are a member of the same family as the original beneficiary. 

As stated above, you may open an Indiana CollegeChoice 529 Direct Savings Plan with as little as $25 and then make additional contributions of $25.  The maximum amount that may be contributed per beneficiary is $298,770.  The rising cost of tuition, as well as the affordability of starting and maintaining an account, are both driving forces behind the popularity of these plans.
The earnings on your investment in an Indiana CollegeChoice 529 Direct Savings Plan are tax deferred from both federal and state taxes. 

Withdrawals from the Indiana CollegeChoice 529 plan may be taken tax-free as long as the money is used to pay for qualified higher education expenses.  These expenses include tuition, fees, books, and certain room and board costs.  The beneficiary may attend college anywhere in the United States.  

In addition, Indiana offers a tax credit to Indiana taxpayers who contribute to an Indiana CollegeChoice 529 Direct Savings Plan.  The amount of the credit is 20% of the amount contributed for the year, with a maximum credit of $1,000.

If you would like to learn more or have questions, please feel free to contact our office or visit collegechoicedirect.com for more information.

Circular 230 Disclosure: Any Advice contained in this memo (including any attachments unless expressly stated otherwise) is not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that my be imposed on any taxpayer.
2011 Standard Mileage
IR-2011-69, June 23, 2011

WASHINGTON — The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes.

The rate will increase to 55.5 cents a mile for all business miles driven from July 1, 2011, through Dec. 31, 2011. This is an increase of 4.5 cents from the 51 cent rate in effect for the first six months of 2011, as set forth in Revenue Procedure 2010-51.

In recognition of recent gasoline price increases, the IRS made this special adjustment for the final months of 2011. The IRS normally updates the mileage rates once a year in the fall for the next calendar year.

"This year's increased gas prices are having a major impact on individual Americans. The IRS is adjusting the standard mileage rates to better reflect the recent increase in gas prices," said IRS Commissioner Doug Shulman. "We are taking this step so the reimbursement rate will be fair to taxpayers."

While gasoline is a significant factor in the mileage figure, other items enter into the calculation of mileage rates, such as depreciation and insurance and other fixed and variable costs.

The optional business standard mileage rate is used to compute the deductible costs of operating an automobile for business use in lieu of tracking actual costs. This rate is also used as a benchmark by the federal government and many businesses to reimburse their employees for mileage.

The new six-month rate for computing deductible medical or moving expenses will also increase by 4.5 cents to 23.5 cents a mile, up from 19 cents for the first six months of 2011. The rate for providing services for charitable organizations is set by statute, not the IRS, and remains at 14 cents a mile.

The new rates are contained in Announcement 2011-40 on the optional standard mileage rates.

Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.

Mileage Rate Changes    Rate 1/1/11 through 6/30/11       Rate 7/1/11 through 12/31/11

Business       51Business       55.5
Medical/Moving      19       Medical/Moving      23.5
Charitable      14Charitable      14


529 Direct Savings Plan
Dedicated to providing quality accounting, tax, and advisory services for over 25 years.