IRS Rev. Proc. 2012-19
Internal Revenue Bulletin: 2012-14 April 2, 2012 Rev. Proc. 2012-19 Table of Contents SECTION 1. PURPOSE SECTION 2. BACKGROUND SECTION 3. SCOPE SECTION 4. CHANGES IN METHODS OF ACCOUNTING SECTION 5. EFFECT ON OTHER...
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Applicable Federal Rates (AFR) 2012
Find latest AFR rates at IRS website RR-2012-28 — APPLICABLE FEDERAL RATES OCT. 2012 RR-2012-24 — APPLICABLE FEDERAL RATES SEP. 2012 RR-2012-23 — APPLICABLE FEDERAL RATES AUG. 2012 RR-2012-21 — APPLICABLE FEDERAL RATES AUG....
2012 NAICS – The North American Industry Classification System
Sector Description 11 Agriculture, Forestry, Fishing and Hunting 21 Mining, Quarrying, and Oil and Gas Extraction 22 Utilities 23 Construction 31-33 Manufacturing 42 Wholesale Trade 44-45 Retail Trade 48-49 Transportation and Warehousing 51 Information...
Form I-9 Employment Eligibility Verification
Form I-9 All U.S. employers must complete and retain a Form I-9 for each individual they hire for employment in the United States. This includes citizens and noncitizens. On the form, the employer must...
2012 Metropolitan commuter transportation mobility tax (MCTMT) changes
Employers Beginning with the second quarter (4/1/12–6/30/12), if your payroll expense for the quarter: Is $312,500 or less, you’re not subject to the MCTMT for that quarter. Exceeds $312,500, use the appropriate rate shown...
Form MTA-6, Metropolitan Commuter Transportation Mobility Tax Return For Self-Employed Individuals (including partners)
Link to Form MTA-6 Individuals with net earnings from self-employment General Individuals (including partners in partnerships and members of LLCs that are treated as partnerships for federal income tax purposes) who have net...
IRS Publication 1281
Here is link to IRS Publication 1281 – which covers Backup Withholding for Missing and Incorrect Name/TINs. TABLE OF CONTENTS Part 1- Introduction • Backup Withholding Rate/Effective Dates 3 Part 2 – Frequently Asked...
Tax-filing and Payment Extensions Expire Oct. 15
The Internal Revenue Service urged taxpayers whose tax-filing extension runs out on Oct. 15 to double check their returns for often-overlooked tax benefits and then file their returns electronically using IRS e-file or the...
2012 OVPD – Calculating the Offshore Penality
Penalty Computation Worksheet When determining the highest amount in each undisclosed foreign account for each year or the highest asset balance of all undisclosed foreign entities for each year, what exchange rate should be...
New Filing Compliance Procedures for Non-Resident U.S. Taxpayers (FBAR, Form TD F, Tax Return)
The Service is announcing a new procedure for current non-residents including, but not limited to, dual citizens who have not filed U.S. income tax and information returns to file their delinquent returns. This procedure...
Which Payments are Subject to Backup Withholding?
Backup withholding can apply to most kinds of payments that are reported on Form 1099. These include: Interest payments (Form 1099-INT), Dividends (Form 1099-DIV), Patronage dividends, but only if at least half the payment...
BWH Rate 2012
Backup Withholding (BWH-B) Rate/Effective Dates Rate/Percentage is 28%, effective for all subject payments after December 31, 2002 until December 31, 2012. The rate after December 31, 2012 will be determined at a later date....
Request for Taxpayer Identification Number and Certification – IRS Form W-9
Use Form W-9 to request the taxpayer identification number (TIN) of a U.S. person (including a resident alien) and to request certain certifications and claims for exemption. (See Purpose of Form on Form W-9.)...
Form 1099-H Health Coverage Tax Credit (HCTC) Advance Payments
Form 1099-H includes Copy 1, which is provided to recipients by the IRS Health Coverage Tax Credit (HCTC) Transaction Center. Copy B must be provided to recipients by all other filers. File Form 1099-H,...
Jumpstart Our Business Startups Act
On April 5, 2012, the Jumpstart Our Business Startups (JOBS) Act was signed into law by President Barack Obama. SEC FAQ Emerging Growth Companies (Title I) General Applicability of Title I Confidential Submission Process...
2011 Annual Survey of State Government Tax Collections
Overall government tax collections for states increased $55.7 billion to $757.2 billion in fiscal year 2011, the U.S. Census Bureau reported today. Corporate net income tax revenue was at $40.2 billion, up 9.4 percent,...
Adjusted Calendar Year (CY) 2012 Privately Owned Vehicle Mileage Reimbursement Rates for Federal Employees
GSA has adjusted all POV mileage reimbursement rates for federal employees from April 17, 2012. Modes of Transportation Effective/Applicability Date Rate per mile Airplane* April 17, 2012 $1.31 If use of privately owned automobile...
State of California Franchise Tax Board Power of Attorney – Form 3520
Click here to get form: Power of attorney (3520) – State of California Franchise Tax Board Use this FTB 3520, Power of Attorney Declaration, to grant authority to an individual to receive confidential tax...
2012 Offshore Voluntary Disclosure Program
2012 Offshore Voluntary Disclosure Initiative Frequently Asked Questions and Answers Forms TD F 90-22.1, Report of Foreign Bank and Financial Accounts Form 433A, Collection Information Statement for Wage Earners and Self-Employed Individuals Form 433B,...
Pennsylvania: Property Tax/Rent Rebate Application Deadline Extended to End of Year 2012
The deadline to apply for Pennsylvania’s Property Tax/Rent Rebate Program for older adults and residents with disabilities has been extended from June 30 to Dec. 31. “Governor Corbett is extending the rebate program deadline...