Tax Deposits for Small Businesses On January 1, 2005 the minimum threshold for Federal Unemployment Tax Act (FUTA)  was raised, from $100, to $500.  As long as payments are made on time, the maximum amount of FUTA the IRS collects per employee for a year is $56.  With the previous minimum threshold employers were required to make deposits when the FUTA deposit amount reached $100, which resulted in companies with 2 or fewer employees to make at least on tax deposit during the year.  This amount has been raised to $500, allowing for a company with eight or fewer employees to eliminate up to four tax deposits yearly. 2006 Changes to Payroll http://www.ssa.gov/pressoffice/colafacts.htm  Texas Workforce Commission Webpage http://www.texasworkforce.org/ EFTPS - Electronic Federal Tax Deposit Webpage https://www.eftpssouth.com/Eftps/?WSYD_SIGN=0&WSYD_EVENT=ANXSTZIP&NXTPG=0&EWSTATE=TX&EWZIP=000000000 Standard Mileage Rate: http://www.irs.gov/newsroom/article/0,,id=163828,00.html   Transportation: The limit on the amount to be excluded from income for either transit passes or a qualified van pool arrangement is $105 per month for 2006.  Tax free employer provided parking is limited to $205 per month for 2006. Adoption Assistance: The amount of tax favored adoption assistance payments/reimbursements an employer provides to employees, to help pay for "qualified adoption expenses", is $10,960 per child for 2006. Pension Plan Limitations for 2007 http://www.irs.gov/newsroom/article/0,,id=163616,00.html  Energy Policy Act of 2005  http://www.irs.gov/newsroom/article/0,,id=153397,00.html  Long-Distance Telephone Tax  http://www.irs.gov/newsroom/article/0,,id=157706,00.html Questions & Answers - Long-Distance Telephone Tax  http://www.irs.gov/newsroom/article/0,,id=164310,00.html   Welcome | Services | Newsletter | Contact Us | Calculators | Links | Our Firm  Tax Relief Act | Organizers  | Track Refund | Whats New | New Developments