* File Form 720 for the fourth quarter of 2010. * Furnish Forms 1098, 1099 and W-2G to recipients for certain payments during 2010. * Furnish Form W-2 to employees who worked for you during 2010. * File Form 730 and pay the tax on wagers accepted during December 2010. * Deposit any FUTA tax…
* Individuals: Pay the final installment of your 2010 estimated tax. Use Form 1040-ES.
|11/09/2011||Filled under News, Tax/Compliance||
BY MICHAEL COHN, ACCOUNTING TODAY A pilot project at the Internal Revenue Service to send out so-called “soft notices” to taxpayers whose tax returns appear to disagree with the information forms from their employers and banks could provide some benefits in terms of improved tax compliance. However, questions about the cost and benefits of the…
|11/01/2011||Filled under Important Tax Dates||
* Corporations: Deposit the fourth installment of your estimated tax for 2011.
|09/01/2011||Filled under Important Tax Dates||
* Deposit Payroll tax for September if the monthly deposit rule applies * Individuals: File 2010 Form 1040, 1040A, or 1040EZ if you timely requested a 6-month extension. * Electing Large Partnerships: File 2010 Form 1065 if you timely requested a 6-month extension.
|06/24/2011||Filled under News, Self-Employed, Tax/Compliance||
The IRS has increased the optional standard mileage rates for the final six months of 2011, in response to higher fuel prices. The rate will increase to 55.5 cents a mile for all business miles driven from July 1, 2011, through Dec. 31, 2011. This is an increase of 4.5 cents from the 51 cent…
|02/03/2011||Filled under Money Management/Personal Finance, News, Tax/Compliance||
A host of tax provisions enacted in 2001 and 2003–commonly referred to collectively as the “Bush tax cuts”–expire at the end of the year. While it’s possible that new legislation could extend some or all of these expiring tax provisions, election-year politics make it difficult to predict what action, if any, Congress will take. With…
|10/04/2010||Filled under Healthcare Insurance, News||
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