Deadline for 2011 Federal Tax Return is April 17, 2012
Taxpayers will have until Tuesday, April 17, to file their 2011 tax returns and pay any tax due because April 15 falls on a Sunday, and Emancipation Day, a holiday observed in the District...
Category: IRS
2011 Form 1065 – U.S. Return of Partnership Income
2011 Form 1065 U.S. Return of Partnership Income 2011 Instruction 1065 Instructions for Form 1065 (2011) Form 1065 is used for reporting the income, gains, losses, deductions, credits for partnerships. A partnership does not...
IRS Tax Calendar 2012
IRS Tax Calendar 2012 for Small Business and Self-Employed Calendar in pdf Desktop version Tax calendar subscription M. SpikEditor 25 years of experience managing tax, accounting, payroll, and employment-related information portals. Editor of Accounting...
Tax Retrun Deadline Extended to April 17 2012
The Internal Revenue Service today opened the 2012 tax filing season by announcing that taxpayers have until April 17 to file their tax returns. The IRS encourages taxpayers to e-file as it is the...
Applicable Federal Rates (AFR) for December 2011
Applicable Federal Rates (AFR) for December 2011 M. SpikEditor 25 years of experience managing tax, accounting, payroll, and employment-related information portals. Editor of Accounting Portal since 2011. Read full bio → www.accountingportal.com/about-m-spik/
Tips for Outsourcing Payroll
Are you planning to outsource payrolls to payroll service provider? Outsourcing payroll duties to third-party service providers can streamline business operations, but the IRS reminds employers that they are ultimately responsible for paying federal...
Extended Payroll Tax Cut
The Temporary Payroll Tax Cut Continuation Act of 2011 temporarily extends the two percentage point payroll tax cut for employees, continuing the reduction of their Social Security tax withholding rate from 6.2 percent to...
IRS Letters and Visits to Return Preparers – FAQs Filing Season 2012
How many return preparers will be visited by IRS revenue agents prior to and during the 2012 filing season? What is the purpose of the visits? IRS revenue agents will be conducting approximately 2,100...
CP-2000 – Notice of Underreported Income
IRS compares the information reported by employers, banks, businesses and other payers on forms W-2, 1098, 1099, etc., with income and deductions reported on your income tax return. If you failed to report any...
Pension Plan Limitations for 2012
IRS announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2012. In general, many of the pension plan limitations will change for 2012 because the...
New Payment Card Reporting Requirements – FAQ
What is section 6050W of the Internal Revenue Code? Section 6050W was added by section 3091 of the Housing Assistance Tax Act of 2008 and requires information returns to be made by certain payors...
PTIN Renewals for 2012 Filing Season
The Internal Revenue Service announced that the nation’s 738,000 tax return preparers who have Preparer Tax Identification Numbers (PTINs) can now renew their PTINs for the 2012 filing season. Preparers are required to renew...
Household Employer’s Tax Guide
Publication 926 – Introductory Material What’s New Reminder Introduction Tax questions. Publication 926 – Main Content Do You Have a Household Employee? Can Your Employee Legally Work in the United States? Do You Need...
Household Workers: Social Security, Medicare, W-2,
If you hire someone to work in your home, such as a cleaning person, a cook, a gardener or a baby sitter, both you and your employee should know about paying Social Security and...
Surviving Spouses to Benefit from Portability Election; Estate Tax Return Required to Make this Choice For Some, Form 706 Due as Early as Oct. 3
IR-2011-97, Sept. 29, 2011 The Internal Revenue Service reminded estates of married individuals dying after 2010 that they must file an estate tax return to pass along their unused estate & gift tax exclusion...
Electing Portability of Deceased Spousal Unused Exclusion Amount
1 If the executor of the estate of a decedent dying after December 31, 2010, intends to make the portability election to allow the decedent’s surviving spouse to use the deceased spousal unused exclusion...
IRS Tax Calendar 2011
IRS Tax Calendar 2011 Tax Calendar for Small Business M. SpikEditor 25 years of experience managing tax, accounting, payroll, and employment-related information portals. Editor of Accounting Portal since 2011. Read full bio → ...
Claiming the Small Business Health Care Tax Credit
Many small employers that pay at least half of the premiums for employee health insurance coverage under a qualifying arrangement may be eligible for the small business health care tax credit. This credit can...
Business Expenses – IRS Publication 535
Publication 535 – Introductory Material Introduction Ordering forms and publications. Tax questions. What’s New for 2010 What’s New for 2011 Reminders 1. Deducting Business Expenses Introduction Topics – This chapter discusses: Useful Items...
Forms W-2/W-3 Online – ELECTRONIC W-2 FILING
Forms W-2/W-3 Online M. SpikEditor 25 years of experience managing tax, accounting, payroll, and employment-related information portals. Editor of Accounting Portal since 2011. Read full bio → www.accountingportal.com/about-m-spik/