IRS Releases Updated Per Diem Rates in Rev. Proc. 2010-39

In Rev. Proc. 2010-39, the Internal Revenue Service (IRS) released updated per diem rates for 2011 and made some minor changes to list of high-cost areas. Per Diem Rates Decrease for High-Cost and Other Localities In §5.02, the IRS announced that per diem rate for...

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Question of the Week: How Do I Opt Out of Filing Form 944?

This week’s question comes from Rick, a restaurant owner. I started my business in June of this year. Since I didn’t have a big payroll in June, the Internal Revenue Service (IRS) recently informed me that I should file Form 944. Since my payroll will be much higher...

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IRS Provides Safe Harbor for Payroll Tax Deduction

In Rev. Proc. 2008-25, the IRS provided a safe harbor method of accounting for accrual-basis taxpayers to use to account for FICA and FUTA taxes. It also established procedures for taxpayers to use to change their method of accounting to this safe harbor method. Under...

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