Category: IRS
IRS Important Tax Dates for Small Businesses – February 2013
Fri 1 Deposit payroll tax for payments on Jan 26-29 if the semiweekly deposit rule applies. Wed 6 Deposit payroll tax for payments on Jan 30 – Feb 1 if the semiweekly deposit rule applies. Fri 8 Deposit payroll tax for payments on Feb 2-5 if the semiweekly deposit rule applies. Mon 11 Employers: Employees
AccuWage Software 2012
In order to run the Java version of the AccuWage/AccuW2C software, you must have the necessary Java Runtime Environment (JRE) files on your PC. Most users already have these files on their systems because Java applications are used in a wide range of computers and networks and are compatible with nearly every platform. AccuWage 2012
2013 Health Flexible Spending Arrangements
Health flexible spending arrangements not subject to $2,500 limit on salary reduction contributions for plan years beginning before 2013 and comments requested on potential modification of use-or-lose rule. Notice 2012-40 I. PURPOSE AND OVERVIEW This notice provides guidance on the effective date of the $2,500 limit (as indexed for inflation) on salary reduction contributions to
2013 Transit Benefit Cap
To reflect a statutory amendment made by ATRA to § 132(f)(2), section 3.12 of Rev. Proc. 2011-52 is modified to read as follows: .12 Qualified Transportation Fringe Benefit. For taxable years beginning in 2012, the monthly limitation under § 132(f)(2)(A) regarding the aggregate fringe benefit exclusion amount for transportation in a commuter highway vehicle and
Simplified Option for Claiming Home Office Deduction for Home-Based Businesses (2013)
The new optional deduction, capped at $1,500 per year based on $5 a square foot for up to 300 square feet, will reduce the paperwork and recordkeeping burden on small businesses by an estimated 1.6 million hours annually. The new simplified option is available starting with the 2013 return most taxpayers file early in 2014.
Annual Inflation Adjustments for Tax Year 2013
IRS announced annual inflation adjustments for tax year 2013, including the tax rate schedules, and other tax changes from the recently passed American Taxpayer Relief Act of 2012. The tax items for 2013 of greatest interest to most taxpayers include the following changes. Beginning in tax year 2013 (generally for tax returns filed in 2014),
Hurricane Sandy IRS Tax Relief – Return Filing and Tax Payment Deadline Extended to Feb. 1, 2013
The tax relief postpones various tax filing and payment deadlines that occurred starting in late October. As a result, affected individuals and businesses will have until Feb. 1, 2013 to file these returns and pay any taxes due. This includes the fourth quarter individual estimated tax payment, normally due Jan. 15, 2013. It also includes
Cafeteria Plan – Fringe Benefits
Cafeteria Plans A cafeteria plan is a written plan that allows employees to choose between receiving cash or taxable benefits instead of certain qualified benefits for which the law provides an exclusion from wages. If an employee chooses to receive a qualified benefit under the plan, the fact that the employee could have received cash
Second B Notice Sample
Second B Notice IMPORTANT TA X NOTICE ACTION IS REQUIRED Second Backup Withholding Warning! YOU MUST HAVE THE IRS OR SSA VALIDATE YOUR TA XPA YER IDENTIFICATION NUMBER AND RETURN IT TO US: ________________________________. Otherwise, backup withholding will begin. Account Number Current Name on Account Current TIN on Account We have received notice from the
