The IRS Audit Blog

Posts Tagged ‘taxes,’

Question: When brokers like E-Trade, Charles Schwab send form 1099Bs to the IRS?

I guess each individual broker might differ but I’m assuming that there is a general time range…

Similar to employers having to send W2 forms by Jan 31…

Thanks!

Answer: The same time they send it to you

Keep it simple when preparing for tax return

Much is said and written about getting ready for income tax time. It does not have to be stressful pulling together the information you need. For most individuals, the items to support the tax return are provided or can be obtained fairly easily.

Download Create Dont Fake/Forge Pay check stub paystub w2 1

Question: When is 3rd quarter payroll tax payment and form 941 due?

I am a little confused about the payroll tax. I need to know when I need to have the payment to the IRS.

Answer: Read the instructions for Form 941 http://www.irs.gov/pub/irs-pdf/i941.pdf carefully. It’s all clearly explained there. The 3rd quarter return is due no later than Oct 31, 2009.

Normally you are required to make monthly or semi-weekly payroll tax deposits or EFTPS payments, not pay with the return. There’s an exception to that rule if the total tax is LESS than $2,500 in which case you can enclose a check with Form 941-V with the return. Again, this is all explained in the instructions linked above.

Payroll Network Supports The Greater Washington Society of CPAs Educational Foundation Web Site

Payroll Network, www.payrollnetwork.com, a local, independently-owned payroll management company, advises accounting professionals for nonprofit organizations through www.nonprofitaccountingbasics.org, a new Web site launched by The Greater Washington Society of CPAs Educational Foundation, with the generous support of the Eugene B. & Agnes E.

Can Pay Pros Administer 401ks

Hatboro council looks into alleged ethics violations

Officials on Hatboro Council will decide individually whether or not they will file ethics complaints to the state concerning two of their own, after council’s former vice president found that Democrats Nancy Guenst and Aleta Ostrander had tax liens they did not report in their 2006 to 2008 statements of financial interest.

Every Pre Paid Legal Services Leader Knows This…

Question: Can you help me out fill the form W 4 2009?

Call me stupid or whatever, but I get confused with this part:

5
Total number of allowances you are claiming (from line H above or from the applicable worksheet on page 2)
6 $
6
Additional amount, if any, you want withheld from each paycheck
7
I claim exemption from withholding for 2009, and I certify that I meet both of the following conditions for exemption.
c Last year I had a right to a refund of all federal income tax withheld bec ause I had no tax liability and
c This year I expect a refund of all federal income tax withheld because I expect to have no tax liab ility.
7
If you meet both conditions, write “Exempt” here

What numbers should I input there? Please help, this is the first time I fill one of these forms.

Website: http://www.irs.gov/pub/irs-pdf/fw4.pdf (The part I’m asking for is almost at the bottom of the first page.

Answer: On line 5 you put down whatever number you have on line H, unless you needed to do the worksheet, in which case you take the number off the worksheet. You haven’t asked anything about how to do the worksheet or how to fill out lines A-H.

Leave line 6 blank unless you used the second worksheet or you have lots of income from sources other than wages.

You don’t say how much you expect to earn in 2009 from all jobs and other sources. Unless we know that we can’t begin to tell you whether you are exempt.

Tax Tip: 10 things to know about the Making Work Pay Tax Credit

Many working taxpayers are eligible for the Making Work Pay Tax Credit, a provision created by the American Recovery and Reinvestment Act in early 2009.

Recovery: Making Work Pay – Married – August 2009 (ASL, Captions & Voice Over)