Irs Tax

In: Business and Management

Submitted By ninotx
Words 56257
Pages 226
Department of the Treasury Internal Revenue Service

What's New . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Reminders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Calendar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 1. Employer Identification Number (EIN) . . . . . . . 10 2. Who Are Employees? . . . . . . . . . . . . . . . . . . . . 11 3. Family Employees . . . . . . . . . . . . . . . . . . . . . . 12 4. Employee's Social Security Number (SSN) . . . 13 5. Wages and Other Compensation . . . . . . . . . . . 14 6. Tips . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 7. Supplemental Wages . . . . . . . . . . . . . . . . . . . . 18 8. Payroll Period . . . . . . . . . . . . . . . . . . . . . . . . . . 20 9. Withholding From Employees' Wages . . . . . . . 20 10. Required Notice to Employees About the Earned Income Credit (EIC) . . . . . . . . . . . . . . 24 11. Depositing Taxes . . . . . . . . . . . . . . . . . . . . . . 25 12. Filing Form 941 or Form 944 . . . . . . . . . . . . . . 30 13. Reporting Adjustments to Form 941 or Form 944 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 14. Federal Unemployment (FUTA) Tax . . . . . . . . 35 15. Special Rules for Various Types of Services and Payments . . . . . . . . . . . . . . . . . 37 16. How To Use the Income Tax Withholding Tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66

Cat. No. 10000W

Publication 15

(Circular E), Employer's Tax Guide
For use in


Future Developments
For the latest information about developments related to Publication 15 (Circular E), such as legislation enacted after it was published, go to…...

Similar Documents

Ir and Glocalization

...Ir and globalization CONENT: Introduction Body 1. What is Globalization and how it is related with the International Relations; 2. Advantages and Disadvantages of the Globalization; 3. Effectiveness of the Globalization Conclusion NTRODUCTION In my work I talk about the Globalization and its relation with the Globalization where I dwelled upon the Globalization. In the second part I did survey and focused on the advantages and disadvantages of globalization as the statistics show.After hammering out the two factors I wrote about de facto effectiveness of the Globalization and at the end I stated my estimation and conclusion. International Relation and Globalization As more nations, people, and cultures adapt to the ever changing international community, diplomats, politicians, and representatives must meet and deal with accordingly to the needs and wants of nations. Diplomacy can be exerted in many forms; through peace talks, written constitutions, field experiences, etc. Culture is a familiar term and remains unchanged by definition. However, globalization and international relations have constantly altered culture both positively and negatively. Globalization increases worldwide technology, and the readability of fast, effective communication and consumption of popular products. Globalization links cultures and international relations on a variety of levels; economics, politically, socially, etc. International relations have used globalization to reach its goal: of......

Words: 1168 - Pages: 5

Irs Income Tax 216

...INCOME TAX 216 The Most Notorious Tax Evaders Instructor : Mr. Carlisle November 16, 2011 Bettie Lawrence Here are some of the most famous tax evasion cases. It’s hard to believe these people, with all of their resources, get themselves in this position. These cautionary tales, straight out of Hollywood, will help you ring in the tax season. Marc Anthony Latino pop sensation Marc Anthony had a run in with the IRS when he had four years of unfilled tax returns. Anthony, along with a team of lawyers, convinced the IRS that he assumed that his financial team filed his tax return for him and that’s why he didn’t do it himself. He was able to get out of doing jail time but had to pay 2.5 million dollars in back taxes. Wesley Snipes Wesley Snipes, the star of martial arts action hits such as the Blade Trilogy and Passenger 57, didn’t file his tax returns for political reasons and was sentenced to 3 years in jail and had to pay millions in back taxes. Abbot and Costello The comedic duo Abbot and Costello were charged with tax evasion by the IRS in 1956 and had to sell their homes and most of their assets which included the rights to many of their blockbuster films, such as Abbot and Costello meet Frankenstein. Abbot and Costello are perhaps best known for their work in radio and their famous “Who’s on first?” joke. Al Capone In 1929 Eliot Ness lead an investigation on famous gangster Al Capone in hopes to get a conviction for tax evasion. Al Capone was......

Words: 471 - Pages: 2

Tax Regulation

...function and survive. It is this constant necessity for capital that gives way to much of the debate within tax accounting. In the United States, citizens and taxable businesses have an obligation to pay taxes to the government’s tax collecting body, the Internal Revenue Service. The IRS functions as the implementing body for the U.S. tax laws found in the Internal Revenue Code. While the IRC serves as the main source of regulation for taxation, actual implementation is a very subjective issue and left open to multiple interpretations. Within the IRC, taxpayers are entitled to numerous deductions that, in essence, reduce their tax liability. The ability to reduce taxes creates an incentive to analyze the Code and utilize every method possible that will help save money. This practice, in turn, opens the door for tax avoidance and aggressive tax accounting. One of the most aggressive tax issues that the IRS faces is the usage of tax shelters. A tax shelter is an investment that utilizes loopholes in order to avoid the payment of taxes. Many tax shelters that have been developed are considered completely legal and follow the IRC properly, serving some major economic purpose. In the late twentieth century, it became common practice for big accounting firms to develop and market different tax shelters in order to reduce their client’s tax liabilities. Some of the tax shelters being developed, though, began to abuse the loopholes in the IRC and were considered too aggressive....

Words: 1568 - Pages: 7

Summary of Transformation at the Irs

...conditions. The article was a summary of the transformation the IRS was beginning in 1998. Change was mandated in 1996 by US President Bill Clinton in the Restructuring and Reform Act 1998. The organization was receiving a major structural reorganization from a geographic based model to a market-based service. As with most government agencies the IRS looked towards the private sector and appointed Charles Rossotti as the 45th Commissioner who drew from lessons learned in the private sector. For this government agency the taxpayer’s are the customer. The IRS is at the least an outdated organizational structure. The first major structural changes were attempted by President Truman in 1952. President Truman established a three tiered, geographically based organization with national, regional, and local offices. There were 40 regional districts that were managed independently and budgets were handed down from central functional groups. The budgets were often not allocated as intended once it made its way down and through the district directors – who might use funds for other projects – who had little accountability for resources spent. One of the good things, if it can truly be described as such, is that the IRS has developed an employee base that is loyal and insular. This unfortunately is probably due to what former commissioner Margaret Richardson said “No one likes the tax man”. The culture was described by stating “IRS employees were unusually committed to the......

Words: 575 - Pages: 3

Irs Ptin Test

...IRS RETURN PREPARER TEST SPECIFICATIONS Revised August 11, 2011 Preface It is the goal of the IRS to administer a test that is founded on basic preparer competency. As such, the Registered Tax Return Preparer (RTRP) test will focus on the ethical responsibilities of federal tax return preparers and the completion of Form 1040 series along with the basic related schedules and forms. The test specifications provided below are intended to provide guidance on the content of the RTRP test. The examples provided within each item are not all inclusive of what may be tested in a given area. Tax preparers are required to pass this competency test in order to achieve the title of Registered Tax Return Preparer. Domain 1: Preliminary Work and Collection of Taxpayer Data 1. Review prior year’s return for accuracy, comparison, and carryovers for current year return. 2. Collect taxpayer’s biographical information (e.g., date of birth, age, marital status, citizenship, dependents) 3. Determine filing status 4. Determine all sources of taxable and non-taxable income (e.g., wages, interest, business, sale of property, dividends, rental income, income from flow-through entities, alimony, government payments, and pension distributions). 5. Determine applicable adjustments to gross income (e.g., self-employed health insurance, self employment tax, student loan interest deduction, alimony paid, tuition, and fees deduction). 6. Determine standard deduction and Schedule A itemized deductions (i.e....

Words: 1439 - Pages: 6

Irs Audit Procedures As a taxpayer filing a tax return, I am sure one of the thoughts running through their mind would be “what are the chances that my tax return will be selected for examination?” Just because the taxpayer wonders if their tax return may be selected for an examination it does not mean they may know exactly how the returns are selected for examination. What most taxpayers don’t know is that there is various ways to have your tax return selected for an examination. If all taxpayers would know the various ways that the Internal Revenue Service selects tax returns for examination, I am sure that they would only report what truly occurred throughout the year instead of telling their tax preparers to please work some magic to get the max refund they could possibly get. Being that I have worked for various years at CPA firms, you hear it all when it comes to getting a max refund. Therefore, I would like to discuss the various ways that returns are selected for examination in order to educate these taxpayers. The first thing a taxpayer should know is that when their tax returns are received by the Internal Revenue Service Center there is computers and employees that regularly check for obvious errors such as a signature was omitted on the return or the taxpayers social security number does not appear. These computers also check for mathematical mistakes. Once this process has occurred then there is a magnetic tape with pertinent information from each return which is sent to......

Words: 1600 - Pages: 7

Ir Information

...横轴从左到右递减,表示的是温度 第二题选择温度变化范围最大的(除了太阳那个范围之外),答案是白矮星。(狗主:哥哥我啊哥哥我) V3第一问:mass (体积)最大的giant是哪种giant 狗主答案:貌似是red giant 第二问:main stream里面,亮度最大的是最小的多少倍 狗主答案:貌似是10的8次方(狗主:dxh2013) 附赫罗图百科: 2各国机场数量【表格分析】 V1表格给出的是关于数个国家不同类别机场数量的信息,题目给出的是三个陈述,需要分别判断是否正确,每一个陈述的判断都需要对表格进行不同数据头的排序,主要考查以不同顺序排列时各个类别中排名各国的比较。还考查了中位数median的概念。此题型主要考查数学及逻辑。 (新东方老师) V2有一个问题问机场总数中的中位数和某个类别机场数的中位数国家是同一个,不对,因为一个是玻利维亚一个是什么忘记了。 (狗主:哥哥我啊哥哥我) 3同一电流下的功率和电阻【二元分析】 V1题目文字给出的是两个关于功率、电流、电阻、电压的公式,要求选择在某个功率电阻下,能达到同一电流时,功率和电阻的值。这是一道典型的需要考虑两方情况才能确定答案的题。解题须确定所求两个元素之间的关系,再根据所给出的既定选项,考虑最终如何进行惟一搭配。(新东方老师) V2补充公式:欧姆定理的P=U^2/R (狗主:哥哥我啊哥哥我) 4城市有线电视改造【多源推理】 V1题目的背景是一个城市需要进行有线电视改造,有两种方案。第一个选项卡给出的是两种方案的利弊描述,第二个给出的是两种方案的初装费用表格,第三个给出的是两种方案累积成本曲线图表。这道“大题”对应了3道题目,也就是整个IR 12道题中有3题都是针对这篇文章。  三题分别问1)两种方案的利弊,等同于考查阅读理解; 2)两种方案价格的比较,等同于考查表格分析; 3)两种方案选择时的权衡,等同于考查评价方案的能力。对于这种题目,最重要的是语文、数学能力的综合运用,但更重要的对于文字、图表、表格信息的理解。 (新东方老师) V2介绍的是电视公司的问题,有两种方法,一种是采用耐用的电线之类的,成本高但是耐久且后来需要的维护成本几乎没有,另一种是质量比较差的,成本低但是后来维护的成本很高,给的图有一个是积累的成本变化,20年内的,我还记得是2500个家庭,所以第三题计算的时候要记得除2500哦亲。,一定要尽量忽略无效信息,不要当阅读理解每句话都看来看去 (狗主:哥哥我啊哥哥我) 6月6日更新 5密码可能情况推理  V1有9个数字的密码,大写字母,小写字母,digit,符号,还有功能键(反正是五种类型),小写字母的数量大于大写字母的数量,小写字母不能和数字相连,还有其他条件,给出前三个M ?P 问第五个和第七个密码可能是哪个。(狗主:lxlsx) V2考一串密码,九个数字,由小写字母,大写字母,数字,标点及其它构成,小写字母最多,标点小于数字小于大写,问第五位和第七位是什么。给了一个方框图表,答案就点击前面的圈,每题只有一个答案。(狗主周龟龟) V3一个密码有9位,包括5种字符类型。给了其中两位密码。均为大写字母 (狗主:tangjiuxuan) 6参加聚会  有ABCDE五个人参加party,A参加BC不能同时参加,(?)参加DE不能同时参加,题目给出制定的A或B,选出三个能同时参加的人?(狗主:lxlsx) 7......

Words: 649 - Pages: 3

Do Irs Audits Deter Tax Avoidance

...Do IRS Audits Deter Tax Avoidance? RES 351 July 14, 2014 r Research is done for many reasons. It can be used to solve problems or issues that a business is having. Research can be used by business to determine if making certain changes will yield the results the company desires. Many businesses use research when developing new products to determine what consumers think of the product. They are trying to determine if consumers will purchase the product if they continue with development. This particular essay is focusing on the IRS auditing of business and how they may or may not take aggressive approaches in order to avoid those audits. Three different universities compiled the research article used for this paper. It focuses on corporate tax avoidance and whether strict IRS monitoring deters corporate tax avoidance. When reviewing this article, it is apparent that they used the reporting study method for their research. This method uses previous data and data sources to reiterate the data for a better understanding. This article uses data from the TRAC (Transactional Records Clearinghouse), that the IRS provides data directly too. Next we will be discussing how the research is providing insight into the research question. There are many factors that the researchers took into consideration. Some factors include the perception of management; whether stricter IRS monitoring constrains some business' aggressive tax planning, and management's role in......

Words: 867 - Pages: 4

Irs User Fee

...IRS User Fee 1. State the administrative agency which controls the regulation. Explain why this agency and your proposed regulation interests you. The Internal Revenue Service (IRS) controls the User Fees Relating to Enrollment and Preparer Tax Identification Numbers. This regulation is found in the Federal Register. A copy of the regulation is included as a separate .PDF document. As a tax preparer this regulation interests me. This will increase my cost of doing business. 2. Describe the proposal/change. The proposed fee for the Personal Tax Identification Number (PTIN) will increase my costs of doing business. 3. Write the public comment which you would submit to this proposal. If the proposed regulation deadline has already passed, write the comment you would have submitted. Explain briefly what you wish to accomplish with your comment. My comment is that as a tax preparer in California, I already pay tax preparer fees to the state regulatory agency, California Tax Education Council. This new fee for using a PTIN, which I have used for over ten years, will increase my cost of doing business. This cost may have to be passed on to customers in what is already a tight economy. I wish to be exempt from this new......

Words: 749 - Pages: 3

Ir Theories

...become internationalized, rendering national administration often much less important than transnational political cooperation. Despite these important changes, there are also counter-trends which can be identified. Realists would argue that liberals such as Ohmae are premature in announcing the demise of the nation-state. They would remind the enthusiasts for globalization that as a preferred form of political community, the nation-state still has no serious rival. There are currently over 200 nation-states in the world asserting their political independence. Realists cite a number of important powers retained by the state despite globalization, including monopoly control of the weapons of war and their legitimate use, and the sole right to tax its citizens. They would argue that only the nation-state can still command the political allegiances of its citizens or adjudicate in disputes between them. And it is still only the nation-state which has the exclusive authority to bind the whole community to international law. They would question the extent to which globalization today is an unprecedented phenomenon, citing the nineteenth century as period when similar levels of economic interdependence existed. They would also point to the growing number of states which reject the argument that Western modernity is universally valid or that political development always terminates at liberal-capitalist democracy. More recently realists have highlighted the expanding power and reach......

Words: 132890 - Pages: 532

Sg Ir

...National Trades Union Congress initiated. The SNEF also joined the National Trades Union Congress as an active partner in the SRP and has targeted to upgrade the skills of some 5,000 workers over the next five years. This provides an additional channel to reach more companies and workers. To encourage this effort, the Government has earmarked some S$6 million within the SRP budget. Such a concerted tripartite effort will help upgrade the skills and enhance the competencies of workers and make them internationally more competitive. The tripartite partners work closely to promote worker training through various committees at the national and enterprise levels. The Skills Development Fund (SDF) was set up in 1979 through a “payroll” tax. The SDF supports company‟s training plans for workers and the skills training programmes of the trade unions. Nearly S$2 billion has been disbursed since the inception of the SDF. Training places have increased from 11,000 in 1980 to 368,764 in 2006, as a training and continuous-learning culture takes root. “Employability” has become a common term for workers seeking ever-improving wages and terms of employment. 20 Industrial peace and harmony with social justice Industrial relations in Singapore in the 1950s and early 1960s were adversarial and confrontational. At the company level, working conditions were poor. There were disruptions in business operations and low productivity due to frequent work stoppages, lack of......

Words: 10568 - Pages: 43

Case Analysis for Chapter 3, Case Number 3-5 Irs Whistleblower and Informing on Tax Cheats

...Case Analysis for Chapter 3, Case Number 3-5 IRS Whistleblower and Informing on Tax Cheats 1. The ethical issue in this case is Wall Street insider Mr. ABC disclosed the information of Illinois Tool Works Inc. (ITW) tax fraud to IRS and received a whistleblowing award of $2 million. 2. The accounting issue involved is ITW enlisted a Swiss bank to fabricate unauthorized tax deductions in order for ITW (bank’s client) to claim the same deductions as an offset to ITW’s otherwise taxable income. 3. The incorrect or improper action taken in this case was ITW conducted illegal tax avoidance by involving a Swiss bank to fabricate unauthorized tax deductions by duplicating same deductions for both of them. 4. The correct or proper action that should have been taken is ITW should have followed GAAP and related regulations to not duplicate tax deductions and avoid tax legally. 5. Answers to case questions: 5.1 Should we regard Mr. ABC as a new “caped crusader” or an opportunist? Explain the reasons for your response. In my opinion, Mr. ABC should be regarded as a “caped crusader”. As a Wall Street insider, he has a moral sensitivity that “it was just a fake deduction scheme”. His motivation is to criticize the government’s ability to identify and investigate sophisticated tax shelters. He took the ethical action to expose the fact to IRS. I don’t think Mr. ABC is an opportunist, who is totally self-centered and only took advantage. He has......

Words: 555 - Pages: 3

Avoiding Irs Penalties

...ACCT 340 Avoiding Penalties A common assumption is that the IRS is always right but that has been proven to be a myth. If one believes that the IRS has made an error, there are multiple actions that can be made to appeal their decision. According to a report prepared by Nina E. Olsen, a National Taxpayer Advocate (NTA), a major issue that was brought to the attention of Tax Court included the issue of “Failure to File and Pay Penalties”. Many cases have been brought to court because of this issue but depending on the cause of the prevention, there are a few things that a taxpayer can do to avoid the penalties awarded to them. This past year America has faced many disasters. There were 516 tornadoes that ravaged through the midwest and southeast. Power outages caused a widespread panic in the northeast in August. Hurricane Isabel battered the east coast in September and wildfires and mudslides devastated Southern California in October. The American Institute of Certified Public Accountants (AICPA) and the National Endowment for Financial Education (NEFE) created a guide that details steps that Americans can take to minimize financial loss associated with disaster. The guide also contains a section on tax considerations and if the guide is taken into consideration, the taxpayer may be eligible for a tax benefit. (AICPA) Suggestions when filing taxes include seeking expert advice from a CPA financial planner or other financial advisor because rules regarding casualty......

Words: 1002 - Pages: 5

Tax, Personal Tax

...I think that Murray should not follow the suggestion of his immediate supervisor, because it’s actually not only against tax-related regulations but also the moral codes. What happened to this case? Let’s go back and take a look. First of all, the mistake came from the deficiency of tax calculation of selling taxpayer’s duplex. Then, the error was overlooked during the review process. Lastly, Murray’s immediate supervisor intentionally said forgot it. Conspicuously, this is a case of human error which can be redeemed when it was found at the last step. So, if the company can be more responsible and take some active actions, they can totally make this case right. For Murray, the first and foremost thing to do is to double check the case and make sure the mistake of the case is exactly as he found. Then, he still needs to go to his supervisor and explain to him patiently about the case in order to get him to face this question straight. If his supervisor doesn’t decide to fix their mistake, then Murray may inform this tough situation to the firm’s board of directors even the accounting agency. As an accountant, Murray has both a legal and ethical responsibility to report this error. If they wait IRS to come to them, he could be forced to jail, even lose his license. In the end, Murray and his colleagues need to tell the client about the mistake they made, ask them to follow the rules and pay more taxes and at the same time give remediation of the miscalculation and......

Words: 269 - Pages: 2

Xbrl for the Irs

...IRS Adoption of XBRL Table of Contents Introduction 3 Interactive Data 3 A Common Standard 3 Multi-lingual Feature 4 XBRL GL 4 Benefits 5 Accuracy 5 Traceability 5 Predictability 6 Obstacles 6 Around the World 7 HMRC iXBRL 7 Netherlands Taxonomy Project 7 Standard Business Reporting 8 Partners 8 Conclusion 9 Reference List 10 Introduction eXtensible Business Reporting Language (XBRL), the standard for electronic communication of business data has grown to become an integral part of business reporting today. The Securities & Exchange Commission’s (SEC) XBRL mandate began in 2009, requiring all public companies to submit financial statements in XBRL format (United States Securities and Exchange Commission, 2011). The Federal Deposit Insurance Corporation (FDIC) has used the standard since 2005. The Internal Revenue Service (IRS) is the latest of these immense government agencies to flirt with idea of implementing a XBRL mandate. The purpose of this paper is to briefly (1) explore why XBRL is the preferred standard, (2) shed light on the exploratory phase that the IRS has entered and the benefits to be gained from the new standard as well as the obstacles that lie ahead, (3) look at what the rest of the world is doing, and finally (4) look at the inevitability of an IRS adoption of XBRL. Interactive Data Unlike commercial accounting information systems, tax returns printed on paper forms and......

Words: 2140 - Pages: 9

ダウンロード APK | Traditional Education - 1786 Words | Spigen (50)