Tax Resources for Accountants and Small Businesses (U.S.)
Form W–2 Wage and Tax Statement 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/
Publication 1281 What payments are subject to backup withholding? a) Rents and commissions, non-employee compensation for services, royalties, reportable gross proceeds paid to attorneys and other fixed or determinable gains, profits, or income payments...
The test is part of an ongoing effort by the IRS to enhance oversight of the tax preparation industry. Preparers who pass this test, a background check and tax compliance check as well as...
The Internal Revenue Service launched a new program that will enable many employers to resolve past worker classification issues and achieve certainty under the tax law at a low cost by voluntarily reclassifying their...
The IRS released Notice 2011-80, which provides that PTINs must now be renewed on a calendar year basis. All PTIN holders must renew their numbers using the online PTIN application or paper Form W-12...
Notice 2011-72 addresses the tax treatment of employer-provided cell phones for noncompensatory purposes. The Notice provides that, for tax years after December 31, 2009, the IRS will treat the employee’s use of employer-provided cell...
PURPOSE This notice provides guidance on the tax treatment of cellular telephones or other similar telecommunications equipment (hereinafter collectively “cell phones”) that employers provide to their employees primarily for noncompensatory business purposes. BACKGROUND Section...
TIN Matching allows authorized payers to match 1099 payee information against IRS records prior to filing information returns. An authorized payer is one who has filed information returns with the IRS in at least...
Whose merchant card payments must be reported? Merchant acquiring entities must report the gross amount of reportable transactions of any payee for whom they settle payment card transactions. A reportable payment card transaction is...
Attorneys An attorney is any person who is a member in good standing of the bar of the highest court of any state, territory, or possession of the United States, including a Commonwealth, or...
Education Requirements Requirements: Category PTIN Tax Compliance Check Background Check Competency Test Continuing Education Attorneys X X CPAs X X Enrolled Agents X X Registered Tax Return Preparers X X X X X Supervised...
What are some of the civil penalties that might apply if I don’t come in under voluntary disclosure and the IRS examines me? How do they work? Depending on a taxpayer’s particular facts and...
Copies of previously filed original (and, if applicable, previously filed amended) federal income tax returns for tax years covered by the voluntary disclosure. Complete and accurate amended federal income tax returns (for individuals, Form...
U.S. persons are required to file a Report of Foreign Bank and Financial Accounts (FBAR), Treasury Department Form TD F 90-22.1, each year if they have a financial interest in or signature authority over...
Form 8955-SSA (2009) Form 8955-SSA Instructions (2009) Form 8955-SSA 2-D Barcode Standards (1/14/2011) Rev. Proc. 2011-31, Publication 4810, contains information required to file Form 8955–SSA through the IRS FIRE (Filing Information Returns Electronically) system....
The 2011 Offshore Voluntary Disclosure Initiative (OVDI) is offered to those taxpayers with offshore accounts or assets. Please follow the new process outlined below. Pre-Clearance: Taxpayers or representatives may fax to the IRS Criminal...
Form 941 (Rev. January 2011) Employer’s Quarterly Federal Tax Return Instruction 941 (Rev. January 2011) Instructions for Form 941, Employer’s Quarterly Federal Tax Return Forms 941, 940, Employment Taxes M. SpikEditor 25 years of...
2010 Form 1065 U.S. Return of Partnership Income 2010 Instruction 1065 Instructions for Form 1065, U.S. Return of Partnership Income “Where to File Your Taxes” (for Form 1065) Partner’s Instructions for Schedule K-1 (Form...
Internal Revenue Bulletins Online Internal Revenue Bulletins Weekly Bulletins are consolidated semiannually into a Cumulative Bulletin. M. SpikEditor 25 years of experience managing tax, accounting, payroll, and employment-related information portals. Editor of Accounting Portal...
The Internal Revenue Service announced a special voluntary disclosure initiative designed to bring offshore money back into the U.S. tax system and help people with undisclosed income from hidden offshore accounts get current with...