Year End Quick Reference Quick Reference Guide - December 2014

Transcription

Year End Quick Reference Quick Reference Guide - December 2014
Year End Quick Reference Guide - December 2014
Dear Valued Client:
In an effort to help answer many of your year
year-end/new year payroll related questions we have designed this Quick
Reference Guide. During the close of 2014 and the roll out of the new calendar year this guide will be a helpful timesaving resource. Should you have additional questions or concerns
concerns, please call our office and speak to your Customer
Service Representative. It has been our
ur pleasure to serve you in 2014 and we look forward
ward to working with you in 2015!
Critical Dates and Important Deadlines
December
24th, Wednesday
25th, Thursday
29th, Monday
31st, Wednesday
Payville USA will be CLOSING at 12:00pm (Noon) – Please
se submit payroll prior to 11:00am.
11:00
Payville USA will be CLOSED. This is a federal banking holiday.
DEADLINE: Last
st day to submit your final 2014 payroll with check date December 31.
DEADLINE: Last day for Tax Filing Service clients to process changes without potential penalties.
Payville USA will be CLOSING at 12:00pm (Noon) – Please
se submit payroll prior to 11:00am.
11:00
January
1st, Thursday
5th, Monday
9th, Friday
16th, Friday
31st, Saturday
Payville USA will be CLOSED. This is a federal banking holiday.
Last day for Tax Filin
Filing Service clients to submit 2014 4th Qtr. adjustments without incurring fees.
Last day to submit all 1099 in
information for processing of 2014 1099’s.
Last
ast day to submit ER Health Care coverage amounts for W
W-2 Forms.
DEADLINE: Distribute your employees’ W
W-2 and 1099 forms before January 31,
31 2015.
Accelerated Deposit Rule FED/FICA 100K or Greater
Check dates:
Wednesday, Dec. 24th and Thursday,, Dec 25th
FED/FICA 100K or greater;
Accelerated Deposit Rule applies
Payroll must process
by Friday
December 19, 2014
Check date:
Wednesday, Dec. 31st
FED/FICA 100K or greater;
Accelerated Deposit Rule applies
Payroll must process
by Friday
December 26, 2014
Payville USA must have confirmation of a
successful wire transfer by
Monday,, December 22nd by 12:00pm
Please call our office for wire instructions
Payville USA must have confirmation of a
successful wire transfer by
Tuesday,, December 30th by 12:00pm
Please call our office for wire instructions
Last Payroll of 2014
The last day to process a 2014 payroll is Monday, December 29th, for a check date of December 31, 2014.
2014
800 Enterprise Dr. #201 Oak Brook, IL 60523
Ph: (630) 366
366-2600 Fax: (630) 368-3900
Employer Year End Checklist
Items to be verified PRIOR to your last payroll processing in 2014 (no later than Monday, December 29th).
All Fringe Benefits have been reported.
All voided checks have been reported.
All manual checks have been reported.
All W-2 ⌧ boxes have been reported.
All 3rd party Sick Pay has been reported.
For Box 12, any Employer Healthcare coverage amounts have been reported. (Required for employers who filed
250 or more W-2 forms for calendar year 2013). This is optional for small employers.
All Box 14 (other) Items have been reported to your Customer Service Representative.
All Pension Boxes have been checked (See Pension Plans).
All Employee Soc. Sec. No.’s, Names, and Addresses have been verified/updated as needed (see back cover page
of this booklet for more information). Changes submitted after December 26th may result in extra fees.
Business Legal address changed? Be sure to notify the following:
IRS (via Form 8822)
IDES (via Notice of Change Form UI 50A)
IDOR (By phone, mail or internet)
Customer Service Representative at Payville USA
Bank Account Changed? Request a Payville USA Bank Account Authorization form.
Is a reorganization (NEW FEIN #) planned in the New Year? Call Payville USA immediately.
Prepare to report any changes/modifications to employee insurance deductions, pension amounts, etc. in 2015.
Submit these changes prior to your 1st payroll of 2015.
Submitted detail to your Customer Service Representative on any additional independent contractors (not
already in the system) for whom Payville USA should produce a Form:
•
1099-M
•
1099-DIV (Provide detail regarding specific 1099 Boxes to be populated per government specifications)
•
1099-R (Provide detail regarding specific 1099 Boxes to be populated per government specifications)
•
1099-I (Provide detail regarding specific 1099 Boxes to be populated per government specifications)
Will any year end payroll processing runs have a Federal Tax Deposit greater than $100,000?
If “yes,” the FED/FICA payment is due the next business day after check date; plan to process at least 2
business days PRIOR to your check date. Please be prepared to initiate a wire transfer to our bank to
ensure your payment can be made. (Please refer to the schedule outlined on page 1 of this guide.)
• Holidays are NOT considered Banking Business days.
• Remember that if a scheduled payroll check date and a bonus payroll check date fall within the
same tax deposit period, the liability is combined even though the payrolls were run separately.
2
Company Name _________________________
Client/Co #
_________________________
Contact Name _________________________
CSR Name
_________________________
Employer New Year 2015 Checklist
•
Verify your Payroll Calendar for all payroll processing/check dates in 2015. Make
ake scheduling changes with your
Customer Service Representative as needed
needed.
•
Verify all Time off Accrual balances/changes and roll
roll-over amounts.
•
Report any employee withholding changes for 2015.
•
Did your business change entity or reorganize beginning in 2015? Call Payville USA immediately.
immediately
•
Insure that all changes/modifications to insurance deductions for 2014 are reflected on your 1st 2015 payroll.
•
Are you prepared to report EE and ER Healthcare costs and coverage monthly starting in 2015? (This applies to
employers with over 100 full time equivalent employees. 50 – 100 FTE’s - transition relief applies for 2015 and
not applicable to Employers under 50 FTE’s)
•
Distribute and collect W-4
4 Forms for the tax year 2015. You may request
equest Payville USA to print a copy of the
2014 W-4 FORM PRE-FILLED
FILLED for each active employee.
This is a complimentary servic
service, in the past a set of pre-filled W-4 forms were automatically printed with
the 1st payroll of the New Year
Year. In an effort to conserve paper, this service is available by request.
To receive this service
ice please ⌧ “YES,” complete your company information above and fax or email this
form to our office. This service can help keep you in compliance with government guidelines, as a new
W-4 Form should be completed each year
year.
YES
•
NO
Only the LAST FOUR digits of the employee Soc. Sec. No. are displayed on the check stub/direct deposit voucher
ex: XXX-XX-1234. To request that ALL digits continue to be masked; please ⌧ the box below, complete your
company information above and fax this form to our office
office.
Do not display the last four digits
*Upon request we can display UNMASKED SSoc. Sec. No.’s on the check stub/direct deposit vouchers for
verification purposes.
Please fax completed form to (630) 368
368-3900
or email to [email protected]
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Company Name _________________________
Client/Co #
_________________________
Contact Name _________________________
CSR Name
_________________________
Quarter
uarter End Hold Questionnaire
1. Will all payments to employees be processed on or before Monday, Dec. 29th 2014?
YES
NO
(See page 1 for specifications concerning any Fed/FICA liability of 100K or greater; Accelerated Deposit Rules will
apply.)
a. If you answered “No,” please list all exceptions:
2. Will all voids to employee’s records be done on or before Monday, Dec. 29th 2014?
a. If you answered “No,” please list all exceptions:
YES
3. Will all 3rd Party Sick Pay records be submitted in writing on or before Monday, Dec. 29th 2014?
2014 YES
NO
NO
a. If you answered “No,” please list all exceptions:
4. Will all Fringe Benefits be submitted in writing on or before Monday, Dec. 29th 2014?
YES
NO
(See page 1 for specifications concerning any Fed/FICA liability of 100K or greater; Accelerated Deposit Rules will
apply)
a. If you answered “No,” please list all exceptions:
If you answered “No”” to any of the above questions and your company utilizes our tax
ax filing services,
Please complete the “Waiver of Penalty & Interest Form” in this guide and fax a copy to our office.
office
Please note: While this is our busiest time of year, we like to give all of our clients the individual attention they
deserve. Please allow enough time for us to address your individual payroll needs. See page 1 for specifications
concerning any Fed/FICA liability
lity of 100K or greater; Accelerated Deposit Rules will apply.
Please fax completed form to (630) 368
368-3900
or email to [email protected]
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Company Name _________________________
Client/Co #
_________________________
Contact Name _________________________
CSR
SR Name
_________________________
Penalty and Interest Waiver Form
Federal ID# ____ ____ -____ ____ _____ _____ ____ ____ ____
______________________________________
Payroll Processing Date
______________________________________
Payroll Check Date
Reason for prior period payroll:
Client authorizes Payville USA to process a prior period payroll, and understands that the tax deposits associated with
this payroll may be late, according to the Internal Revenue Service and State/Local payroll tax deposit schedules. Client
accepts responsibility for payment of all penalties and interest that may be imposed by the agencies to which payments
are due.
If Client requests, Payville USA will review, research and resolve any notices with respect to the above-mentioned
above
prior
period payroll, at the rate of $ 75.00 per hour.
The individual whose signature appears below
elow warrants that he or she possesses the full power and authority to execute
this form.
Authorized Agent Name
Title
Authorized Agent Signature
Date
Payville USA Authorization
Date
Please fax completed form to (630) 368
368-3900
or email to [email protected]
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Company Name _________________________
Client/Co #
_________________________
Contact Name _________________________
CSR Name
_________________________
________________________
Bonuss Payroll Preparation Questionnaire
Please answer the following questions concerning your Bonus Payroll Processing.
1. Run Bonus Checks WITH our normal payroll?
If YES: Should Bonus dollar amounts be on separate checks?
2. Run a separate payroll for Bonus Checks?
YES
or
NO
YES
or
NO
YES
or
NO
If YES: Indicate the Bonus payroll Check Date ________ / ________ / ________
Bonus Check Specifications
Please Check Selections
(Specifications will apply to ALL employees. Please note any exceptions.)
NET $
Bonus dollar amounts listed are:
Payment Type:
Live Check
GROSS $
Direct Deposit
Update Only/Manual
/Manual Check
Override Federal Income Tax:
Suppress Flat Percent ______% Flat Dollar $ ______
By Tax Freq: Wkly
Bi-wkly
Semi-mthly
2014 Supplemental Rate Flat 25%
Mthly
Quarterly
Annual
(PER IRS SUPPLEMENTAL
MENTAL INCOME OVER $1 MILLION MUST BE TAXED AT A FLAT RATE OF 39.6%)
%)
Override State Income Tax:
Suppress Flat Percent ______% Flat Dollar $ ______
By Tax Freq: Wkly
Bi-wkly
Semi-mthly
Mthly
Quarterly
Annual
Social Security/Medicare Taxes: Not Optional
Voluntary Deductions:
Suppress All?
YES
NO (if no
o see below)
Check all that should be deducted from Bonus Checks:
401K/Def. Comp
Insurance
Loa
Loans
Union
Garnishments
Other
Other __________________________
______________
Please list any other special instructions: _________
_______________________________________________
_________________________
Please fax completed form to (630) 368
368-3900
or email to [email protected]
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Company Name _________________________
Client/Co #
_________________________
Contact Name _________________________
___________________
CSR Name
_________________________
________________________
Fringe
ringe Benefit Preparation Questionnaire
Please answer the following questions concerning your Fringe Benefits. If your company has MORE than one type of
Fringe Benefit; please submit a separate copy of this form for EACH different benefit type.
Who will be paying the EE portion of the Social Security and Medicare tax (FICA)
(FICA)?
Company
Employee
Benefit is not taxable for FICA
•
If the Employee is to pay the EE FICA
FICA, live wages must be issued to the employee on the adjusting payroll. Call
our office to discuss further if this person has been terminated or will not have any more wages paid this year.
•
If the Company is paying the employee portion of the Social Security and Medicare tax (FICA), Payville will gross
up the wages in order for the Company to pay the employee FICA
FICA.
Where applicable, should the Federal, State
State, and Local income taxes calculated on the benefit be deducted from the live
wages paid?
Yes, withhold
thhold all applicable taxes from the EE
No,, withhold only FICA from the EE
No, please
lease gross up the wages in order for the Company to pay all applicable Withholding
taxes for the EE on this Fringe benefit
What type of Fringe Benefit (circle one):
2% Shareholders Ins. (FICA Taxable)
125 Plan Dependent Care
Auto
GTLI
Child Care
2% Shareholders Ins. (Non-FICA
FICA Taxable)
Moving Expense
Other ______________________
Special Instructions:
__________________________________________________________________________________________________
_____________________________________________________________________
__________________________________________________________________________________________________
________________________
EE Name/EE No.
Fringe Benefit Amt $
EE Name/EE No.
Fringe Benefit Amt $
1
$
5
$
2
$
6
$
3
$
7
$
4
$
8
$
If we have questions on any of the above, please list a contact for us: C
Contact: _____________________
__________________ at
(________) _________ - __________
____ or e-mail__________________________________________________.
mail__________________________________________________.
Is this contact your Accountant/CPA? Yes
No
Please fax completed form to (630) 368
368-3900
or email to [email protected]
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Wage Base Limits, Percentages and Contribution Rates
Type 2014
Rate
OASDI
EE/ER 6.2%
EE/ER 1.45%
EE Only
Additional
0.9%
0.6%
0.550% 8.55%
New Business
3.95%
Medicare
Wages over
$200,000
FUTA
UI (IL)
UI (IL)
Small
Business
5.4%
IRS 2015
Standard Mileage Rate
56 cents
per mile
Supplemental wage
payments $1,000,000
39.6%
2015 Federal Tax WH
Supplemental Rate
401K
Wage Base Limit
2015
$118,500
Max Paid
(ER)
$7347.00
Max Withheld
(EE)
$7347.00
No Limit
No Limit
No Limit
$7,000.00
$42.00/per EE
NA
Varies
NA
$12,960
An employer whose contribution rate is 5.4% or higher and whose total quarterly wages are
less than $50,000 pays contributions at 5.4% in that quarter.
Every new employing unit must register with IDES within 30 days of start-up.
"Report to Determine Liability Under the Illinois Unemployment Insurance Act".
Register electronically through the Illinois TaxNet website.
For Business Miles Driven
(23.5 cents per mile driven for medial or moving purposes)
(14 cents per mile driven in service of charitable organizations)
Excess is subject to withholding at this percentage without regard to the employee’s Form
W-4 status designation and exemptions
25%
$18,000
+ $6,000Catch up
( age 50 + only)
IRA
SIMPLE
Total ER and EE contributions to all of an employer’s plans are subject
to an overall annual limitation the lesser of:
-100 percent of the employee’s compensation, or
-$53,000 in 2015
$5,500
+ $1,000 Catch Up
Single
Family
$12,500
+ $3,000 Catch up
(Catch up applies
to age 50 + only)
ER contributions to a SIMPLE 401(k) plan are limited to either:
-A dollar-for-dollar matching contribution, up to 3 percent of pay;
or
-A non-elective contribution of 2 percent of pay for each eligible
employee.
No other ER contributions can be made to a SIMPLE 401(k) plan, and
EE’s cannot participate in any other retirement plan of the employer.
HSA
FSA
Per Employee
$3350 +
$1000 Catch Up
$6650 +
$1000 Catch Up
$2,550
Maximum
Compensation
$265,000
The maximum of an employees’ wage that may be considered for the
calculation of a participants’ retirement benefit amount.
HCE Threshold
$120,000
Considered highly compensated employee for the purpose of 401K
non-discrimination testing
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TAX NEWS
•
STATE W/H TAX PAYMENT FREQUENCIES AND UNEMPLOYMENT RATES - Please forward any correspondence
from all state agencies to Payville USA. State agencies send out tax rate and frequency changes for the
upcoming year to your legal address around this time of year. Once we receive the correspondence from you,
we will update your 2015 information in our system. If we do not receive any updated information for the New
Year we will continue to utilize the rates and tax payment frequencies from 2014. Using outdated rates and tax
payment frequencies may result in penalties and/or interest charges from the state agencies.
•
FUTA Reduction
Some states and the Virgin Islands are subject to a reduction in the credit for unemployment taxes that can be
applied to the overall federal unemployment tax credit on their IRS Form 940, Employer’s Annual Federal
Unemployment (FUTA) Tax Return, for 2014. This reduction is due to the states’ failure to repay outstanding
federal loans dating back to 2009. Most of these states will be subject to a reduction of 1.2% in the credit which
equates to an extra $84.00 in tax for every covered employee.
The additional tax is reported on Form 940 and is due February 2, 2015. Payville will calculate the additional
amount due and deduct it from your bank accounts on January 16, 2015. We will provide you with
correspondence early in the week of January 5th with the exact amount of the deduction.
The following states have a 1.2% reduction:
California
Kentucky
New York
North Carolina
Ohio
Virgin Islands
Indiana will have a credit reduction of 1.5%.
Connecticut will have a credit reduction of 1.2% plus an additional BCR add-on of .5% for a total credit reduction
of 1.7%.
•
Health Care W2 Reporting – The Affordable Care Act requires employers to report the cost of employerprovided health care coverage on Form W-2. The cost to report will include both the employee’s and
employer’s contribution to health care premiums. The reporting requirement does not apply to coverage under
a health flexible spending arrangement (FSA) if contributions occur only through employee salary reduction
elections. If dental or vision coverage is offered under a separate policy from the one under which medical
coverage is offered or participants have the right not to elect dental or vision coverage then the cost of the
dental or vision coverage does not have to be included in the reporting requirement.
In ‘Notice 2012-9’, the IRS clarified that the interim relief from the reporting requirement was for employers
filing fewer than 250 Forms W-2 for the preceding calendar year. This relief applies for 2012 and beyond, unless
and until further IRS guidance is issued. The IRS is emphasizing that this new reporting is for informational
purposes only, to inform employees of the complete cost of their health care coverage, and is not taxable.
•
Medicare Tax - Under the Patient Protection and Affordable Care Act, workers earning more than $200,000 a
year ($250,000 for joint filers) must pay higher Medicare taxes beginning in tax year 2013. The new tax is 2.35%
(an increase of 0.9%) of applicable wages above those thresholds. There is no change to the employer’s share of
the Medicare tax.
•
Social Security (OASDI) Tax – Wage base limit for social security tax has increased in 2015 from $117,000 to
$118,500. The maximum amount paid by employer and employee is $7347 for the year.
9
State Withholding / Unemployment Websites
Alabama
www.ador.state.al.us
dir.alabama.gov
Indiana
www.state.in.us/dor/
www.IN.gov/dwd/
Alaska
N/A
www.labor.state.ak.us/
Iowa
www.state.ia.us/tax/index.html
www.iowaworkforce.org/ui/
Arizona
www.revenue.state.az.us/
www.azdes.gov/main.aspx?menu=22&=2328
Kansas
www.ksrevenue.org
www.dol.ks.gov/ui/html/EnUi_DBR.html
Arkansas
www.arkansas.gov/dfa/
www.dws.arkansas.gov/
Kentucky
http://revenue.ky.gov/
www.oet.ky.gov
California
www.taxes.ca.gov/
www.edd.cahwnet.gov/default.htm
Louisiana
www.rev.state.la.us
www.laworks.net/homepage.asp
Colorado
www.revenue.state.co.us/main/home.asp
www.coworkforce.com/UIT/
Maine
www.state.me.us/revenue/
www.dllr.state.md.us/employment/
Connecticut
www.ct.gov/drs/site/default.asp
www.ctdol.state.ct.us/
Massachusetts
www.dor.state.ma.us
www.detma.org/
Delaware
www.state.de.us/revenue/default.shtml
www.delawareworks.com/unemployment/welcome.shtml
Michigan
www.michigan.gov/treasury
www.michigan.gov/uia
Dist of Columbia
http://cfo.dc.gov
http://does.dc.gov/does/site/default.asp
Minnesota
www.taxes.state.mn.us/taxes/index.shtml
www.uimn.org/tax/index.htm
Florida
N/A
http://dor.myflorida.com/dor/taxes/unemploy_comp_law.html
Mississippi
www.mstc.state.ms.us
www.mdes.ms.gov/wps/portal/#null
Georgia
www.etax.dor.ga.gov/
www.dol.state.ga.us/em/
Missouri
www.dor.mo.gov/
www.labor.mo.gov/Employers/
Hawaii
www.hawaii.gov/tax/tax.html
http://hawaii.gov/labor/ui/
Montana
http://mt.gov/revenue/
http://uid.dli.mt.gov/
Idaho
http://tax.idaho.gov/
http://labor.idaho.gov/dnn/idl/
Nebraska
www.revenue.state.ne.us/index.html
www.dol.state.ne.us/nwd/
Illinois
www.revenue.state.il.us
www.ides.state.il.us
Nevada
N/A
www.nvdetr.org
10
State Withholding / Unemployment Websites
New Hampshire
N/A
www.nh.gov/nhes/
Texas
N/A
http://www.twc.state.tx.us/
New Jersey
www.state.nj.us/treasury/taxation/
http://lwd.dol.state.nj.us/labor/employer/ea/ea_index.html
Utah
http://tax.utah.gov/index.html
http://jobs.utah.gov/employer/busmore.html
New Mexico
www.tax.newmexico.gov/Pages/TRD-Homepage.aspx
www.dws.state.nm.us/index.html
Vermont
www.state.vt.us/tax/index.shtml
www.labor.vermont.gov
New York
www.tax.state.ny.us/
www.labor.ny.gov/home
Virginia
www.tax.virginia.gov/
www.vec.virginia.gov/vecportal/
North Carolina
www.dor.state.nc.us/
www.ncesc.com/default.aspx
Washington
N/A
www.esd.wa.gov/uitax/index.php
North Dakota
www.nd.gov/tax//
www.jobsnd.com
West Virginia
www.wvrevenue.gov/
www.wvbep.org/bep/default.htm
Ohio
http://tax.ohio.gov/
http://jfs.ohio.gov/ouc/
Wisconsin
www.dor.state.wi.us/
www.dwd.state.wi.us/ui/
Oklahoma
www.tax.ok.gov
www.oesc.state.ok.us/
Wyoming
N/A
http://doe.wyo.gov/employers/unemployment/
Pages/default.aspx
Oregon
www.oregon.gov/DOR
www.employment.oregon.gov/
Other IL Agencies
Pennsylvania
www.revenue.state.pa.us
www.dli.state.pa.us
Incorporation
www.cyberdriveillinois.com
Workers Compensation
www.state.il.us
IL Department of Labor
www.state.il.us/agency/idol
Rhode Island
www.tax.state.ri.us
www.dlt.state.ri.us
Federal Agencies
South Carolina
www.sctax.org/default.htm
http://dew.sc.gov/
Internal Revenue Service
www.irs.gov
Small Business Administration
[email protected]
Wage & Hour
www.dol.gov
Social Security Administration
www.ssa.gov
Electronic Federal Tax Payment System
www.eftps.gov
South Dakota
N/A
http://dol.sd.gov/
Tennessee
N/A
www.state.tn.us/labor-wfd/esdiv.html
11
Employee Name, Address & Social Security No. Verification
As the end of calendar year 2014 approaches, we will be supplying your company with a copy of our report entitled
“Name, Address & Soc Sec Verification (B425)”. We ask that you verify, with your employees, the information that they
see displayed on their check stub or direct deposit voucher for accuracy and completeness.
We can also provide a copy of this report displaying only one employee per page; enabling the quick and easy
distribution to each individual employee for verification purposes. If your preference is to receive the modified version
of the report, please fax the 1st page of the report (B425) to (630) 368-3900; be sure to select the appropriate check
box.
If your company changed service providers in calendar year 2014, the information provided to Payville USA, listing
employee information for the conversion of your data, may have contained “Blocked” or “Masked” Soc. Sec. No.’s. In
this case, some numbers may only contain the last four digits as displayed by the prior service bureau. Please review the
list provided for social security numbers containing “999-99-1234” or “000-00-1234”.
The accuracy and completeness of the Soc. Sec. No., address, and employee name (as it appears on the social security
card), are essential to providing accurate W-2 and year end tax filing/reporting.
Phone In, Email, and/or Fax Clients
Please make changes* or updates directly on the report provided and
fax, email, or mail the report to our office prior to your last payroll processing in calendar year 2014.
Payville USA
Attn: Your Customer Service Representative
800 Enterprise Drive Suite #201
Oak Brook, IL 60523
or
Fax to: (630) 368 – 3900
Email to: [email protected]
* Please draw a line through the item to be changed, print legibly, and use ink.
Changes received after your last scheduled processing in 2014 could result in a $275 fee to open the prior year (2014)
directory and reprint charges for quarterly reports and W-2 forms.
Remotes
Remote clients are responsible for making all their own employee information changes on-line with one of their payrolls
to be processed. Please make changes no later than your last scheduled payroll in 2014, allowing time for review of the
changes for accuracy.
As always, please remember that we offer a price match guarantee and a client referral
program where you can receive free payroll processing and a gift card!
Please contact your Customer Service Representative for more details.
The Heroes of Payville USA wish you & your families a safe and prosperous New Year!
12