The Times
A plethora of new tax rules come into affect for 2010. One likely to hit many less organized S corporations is the late federal 1120s filing fee. It is now a $195 penalty for each owner. Previously the late fee was substantial at $89 per owner.
One should expect cash-strapped state tax departments to get into the act in the future. It goes without saying the federal government will continue to target business for tax increases, since that burden falls upon the public outside of its perception, hidden in the cost of doing business.
Written by DoktorThomas, January 28th, 2010
Filed under: S-Corps & Taxes | Comments Off
| Selected IRS Publications |
|
Links To
Consult these IRS publications as primary sources for each listed topic. |
| Accountable plans |
Publication 15 (Circular E) |
| Bonuses and supplemental pay |
Publication 15 (Circular E) |
| Cafeteria plans |
Publication 15-B,
Employer’s Guide to Fringe Benefits |
| Characteristics of Government Entities |
Publication 963, Federal-State Reference Guide |
| Clothing and uniform allowances |
Publication 15-B,
Employer’s Guide to Fringe Benefits
FSLG Taxable Fringe Benefits Guide |
| Deposit rules |
Publication 15 (Circular E) |
| Emergency workers |
Publication 963, Federal-State Reference Guide |
| Employee meals and lodging expenses |
FSLG Taxable Fringe Benefits Guide
Publication 463, Travel, Entertainment, Gift and Car Expenses |
| Employee use of employer vehicle |
Publication 15-B,
Employer’s Guide to Fringe Benefits
FSLG Taxable Fringe Benefits Guide |
| Fee-based employees |
Publication 963, Federal-State Reference Guide |
| Filing requirements |
Publication 15 (Circular E) |
| Information reporting |
General Instructions for Forms 1099, 1098, 5498, and W-2G |
| Medicare coverage |
Publication 963, Federal-State Reference Guide |
| Nonqualified (section 457) retirement plans |
Public Employer’s Tax Guide
Publication 963, Federal-State Reference Guide (includes Notice 2003-20) |
| Public retirement systems (social security replacement plans) |
Publication 963, Federal-State Reference Guide |
| Section 218 social security coverage |
Public Employer’s Tax Guide
Publication 963, Federal-State Reference Guide |
| Sick pay |
Publication 15-A, Employer’s Supplemental Tax Guide |
| Volunteers |
Publication 963, Federal-State Reference Guide |
| Wages and items included in compensation |
Publication 15-B,
Employer’s Guide to Fringe Benefits
FSLG Taxable Fringe Benefits Guide |
| Who is an Employee? |
Publication 15 (Circular E) |
| Withholding |
Publication 15 (Circular E) |
|
|
The IRS continual revises and up-dates its various forms. Therefore, you should check the IRS Web site. If you can’t find what you’re looking for here, there are many additional publications on their web site than the ones listed above.
Written by DoktorThomas, January 27th, 2010
Filed under: S-Corps & Taxes | Comments Off
These links lead PDF copies of the listed document which can be downloaded for no cost.
Updated for tax year 2009
Check the IRS Web site if you cannot find what you are looking on the list. (There are many other publications in addition to the ones listed above.)
