In a letter dated February 20, 2014, the Internal Revenue Service (IRS) sent EFTPS Inquiry PINs to taxpayers whose tax professional enrolled them in the Electronic Federal Tax Payment System (EFTPS). EFTPS is the system through which federal tax payments are made for...
The Internal Revenue Service (IRS) has released the 2011 Form 944, Employer’s ANNUAL Federal Tax Return, and related instructions. Form 944 is designed so the smallest employers (those whose annual liability for social security, Medicare, and withheld federal income...
This week’s question comes from Seth, a company controller. It seems as if there are many changes in payroll recently. What are 10 hot items for payroll in 2011? Answer: The payroll industry and payroll departments have seen many changes as Congress uses the payroll...
The Internal Revenue Service (IRS) has released the 2010 Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return, and accompanying instructions. Employers use Form 940 to report their annual Federal Unemployment Tax Act (FUTA) tax. FUTA Tax Must Be...
This week’s question comes from Carl, a corporate controller. I received a notice from the Internal Revenue Service (IRS) about Federal Tax Deposit coupons titled, You can no longer make required deposits using Form 8109/8109-B. Why did I receive a notice about...
The Internal Revenue Service (IRS) has released the 2010 Form 944, Employer’s ANNUAL Federal Tax Return, and related instructions. Form 944 is designed so the smallest employers (those whose annual liability for social security, Medicare, and withheld federal income...
This week’s question comes from Ben, a business owner. We received an e-mail from EFTPS stating that my federal tax payment had been rejected. Is there a problem with my EFTPS payment? Answer: On August 20, 2010, the Internal Revenue Service (IRS) issued a Problem...
In IR-2010-092, the Internal Revenue Service (IRS) recently announced proposed regulations (REG 153340-09) that eliminate the ability for taxpayers to deposit taxes using paper coupons. Additionally, businesses with a quarterly Federal tax liability of more than...
The US District Court for the Southern District of New York has upheld payroll tax penalties on a company owned by actor Joe Pesci even though the taxes were timely paid. The IRS assessed the penalties because the company did not pay the taxes electronically as...
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