(EMAILWIRE.COM, June 16, 2001 ) SAN FRANCISCO, CA -- Because household employers now pay the so-called "nanny tax" to the IRS at the end of the year along with their Schedule H, Form 1040, they have not been slated to receive the new federal income tax withholding schedules resulting from the federal tax rate reduction. Household employers who withhold federal income taxes from their workers' paychecks need to get a copy of the new schedules published by the IRS as Publication 15-T, New Withholding Tables for 2001 (For Wages Paid After June 30, 2001) in order to correctly compute paychecks starting July 1, 2001.

HET Online, which offers tax resources for household employers on its website at http://www.NannyTaxCalifornia.com warns that although businesses have already geared up to use the new federal withholding schedules starting July 1, household employers also need to comply with the changes. HET Online owner Martha White says "Although withholding income taxes is optional for household employers, many employers and workers choose to withhold so that the worker is not subject to underpayment penalties at year-end. The free calculators on our website will have the new schedules installed at 3:30 A.M. on July 1. Household employers can use these calculators to figure their worker's net pay, and to produce a pay stub showing the deductions." Even wage earners who are not household employees/employers may want to use the free calculator in order to check their own payroll deductions for correctness when they notice a change on their first July paycheck, as well as to understand the nature of their paycheck deductions.

Some of the features that HET Online offers free to users include:
- Step-by-step summaries of household employment tax requirements
- Definitions for determining whether you are subject to the "nanny tax"
- Comprehensive links to relevant tax forms and publications
- Calculation of paycheck deductions and printable pay stub
- Calculation of employer tax liability.
The website also offers a unique online service which gives household employers the convenience of accessing their household payroll database online 24 hours a day for calculating, recording, reporting, and for printing signature-ready nanny tax forms at their own printer.

Contact:
Martha White
HET Online
650-906-7662
white@HouseholdEmploymentTaxes.com
http://www.NannyTaxCalifornia.com
http://www.HouseholdEmploymentTaxes.com

Contact Information:

Martha White
Tel:
Email us


This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.