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Forms & Publications
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Changes to tax forms and publications
The IRS has advised employees that there are errors in Publication 505 Tax Withholding and Estimated Tax. The version of this publication that was available to download before 30 June 2004 has the following errors:
- In the second column, line 1 should read $25,218, not $25,430.
- In the third column, line 1 should read $46,409, not $47,105.
- The rest of the second and third columns and lines 20-25d of the fourth column are changed due to the above.
A corrected version is available to download.
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...back to 22 July 2004
Further information:
www.irs.gov/formspubs/article/0,,id=109875,00.html
www.irs.gov/pub/irs-pdf/p505.pdf
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Tax Talk Today live webcast on July 13
The next live webcast is entitled "Getting It Right: Forms W-4, W-2, I-9 and 941" and will take place on Tuesday, July 13, 2004 from 2 p.m. to 3 p.m. ET.
During this program the Social Security Administration, American Payroll Association, National Association of Tax Reporting and Payroll Management, and the Internal Revenue Service will discuss the tools available to help employers get the correct information from their employees and how to provide this information to the right agency.
Subjects under discussion will be SSN verification tools, the Questionable W-4 program, the recently announced EFTPS FTD Penalty Refund Program, how to avoid "No Match" letters from Social Security, tax deposit penalties, and W-2 penalties. The redesigned Form 941, with its plain English instructions and easy to understand format will also be introduced.
Discuss this news item in the PayPerShop Forum
...back to 8 July 2004
Further information:
www.taxtalktoday.org
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"Information only" forms
The IRS is to post, for the first time, a number of "information only" forms, such as Forms 1098, 1099, 5498 and W-2, on its website. Users are reminded that such forms, even though they appear similar to the official forms, must not be printed out and filed with the IRS or SSA as they cannot be scanned. A penalty of $50 may be imposed if they are used.
Discuss this news item in the PayPerShop Forum
...back to 1 July 2004
Further information:
www.irs.gov/formspubs/article/0,,id=109875,00.html
www.irs.gov/formspubs/page/0,,id=10768,00.html
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Residency certification for double taxation purposes
A new IRS tax form, Form 8802 Application for United States Residency Certification has been introduced to make it easier for U.S. individuals and businesses to establish that they are entitled to lower foreign tax rates provided by U.S. income tax treaties. The United States has double taxation treaties with many countries, enabling U.S. citizens and businesses investing in those countries, upon receiving proof of U.S. residency, to pay tax at the reduced rate defined in the treaty, in some cases as low as zero.
Beginning July 5, taxpayers who need proof of U.S. residence to qualify for lower treaty rates while working or investing overseas must use Form 8802. As in the past, IRS will then issue a letter that confirms the tax status of the taxpayer for purposes of claiming treaty benefits. The new Form 8802 replaces the current procedure, which requires the requestor to write a letter to the IRS.
The IRS issued more than 1.5 million residency certifications in 2003 and is expecting to issue nearly 3 million for 2004, largely because of the increase in investment overseas.
Although the mandatory use of the form does not become effective until July, the IRS will accept and process the new Form 8802 immediately. The form can be submitted by fax or post.
Generally, processing of the form and issuing the certification takes less than 30 days. Once received, the certificate of U.S. residency should be included with the application materials required by the country where the individual or business is seeking the reduced tax rate.
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...back to 10 June 2004
Further information:
www.irs.gov/newsroom/article/0,,id=123818,00.html
www.irs.gov/pub/irs-fill/f8802.pdf
www.irs.gov/businesses/small/international/article/0,,id=122559,00.html
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Changes to tax forms and publications
A number of cautions have been issued by the IRS in the past week about corrections to various forms and publications. The following documents are affected:
- Form 2848 Power of Attorney and Declaration of Representative
- Form 8821 Tax Information Authorization
- Publication 505 Tax Withholding and Estimated Tax (Rev. February 2004)
- Publication 1542, Per Diem Rates (updated with changes to per diem rates in locations in Montana, New York, Ohio and Texas)
...back to 29 April 2004
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Changes to tax forms and publications
A number of cautions have been issued by the IRS in the past week about corrections to various forms and publications. The following documents are affected:
- Publication 505 Tax Withholding and Estimated Tax
- Publication 919 How Do I Adjust My Tax Withholding?
- Form 7004 Application for Automatic Extension of Time To File Corporation Income Tax Return
In addition, the 2004 revision of Publication 1542 Per Diem Rates, giving the maximum per diem rate you can use without treating part of the per diem allowance as wages for tax purposes, is now available. In future, the IRS will only issue html and pdf editions of this publication.
Further information:
www.irs.gov/formspubs/article/0,,id=109875,00.html
www.irs.gov/pub/irs-pdf/p1542.pdf
...back to 25 March 2004
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US corporation income tax return
At the end of January 2004, the Treasury Department and Internal Revenue Service released a new proposed draft form, Schedule M-3 (Form 1120) Net Income (Loss) Reconciliation for Corporations with Total Assets of $10 Million or More. Comments were requested by April 30, 2004 regarding the use of this form, including suggestions on ways to minimize taxpayer burden. A draft of the new instructions for using this form has now been published.
Further information:
www.irs.gov/formspubs/article/0,,id=109875,00.html
...back to 18 March 2004
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Changes to tax forms and publications
A number of cautions have been issued by the IRS in the past week about corrections to various forms and publications. The following documents are affected:
- Publication 3 Armed Forces' Tax Guide
- Form 1099-R Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
Further information:
www.irs.gov/formspubs/article/0,,id=109875,00.html
...back to 18 March 2004
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New employment and occupations publications
The US Government online bookstore has announced the following new publications:
- National Labor Relations Board Casehandling Manual: Unfair Labor Practice Proceedings
- Employment and Wages Annual Averages, 2002
- Decisions and Orders of the National Labor Relations Board, Volume 337
Further information:
bookstore.gpo.gov/newpubs/index.html
...back to 4 March 2004
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Changes to tax forms and publications
A number of cautions have been issued by the IRS in the past week about corrections to various forms and publications. The following documents are affected:
- Publication 17 Your Federal Income Tax
- Publication 590 Individual Retirement Arrangements
- 2003 Form 6781 Gains and Losses From Section 1256 Contracts and Straddles
Further information:
www.irs.gov/formspubs/article/0,,id=109875,00.html
...back to 26 February 2004
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Changes to tax forms and publications
A number of cautions have been issued by the IRS in the past week about corrections to various forms and publications. The following documents are affected:
- Form 8855 Election To Treat a Qualified Revocable Trust as Part of an Estate
- Form W-2 Wage and Tax Statement and Instructions for Forms W-2 and W-3 (use of Code W - Employer's contribution to an employee's Health Savings Account in box 12)
- Form 8802 Application for United States Residency Certification (rev. December 2003)
- Instructions for Form 990-T
Further information:
www.irs.gov/formspubs/article/0,,id=109875,00.html
...back to 19 February 2004
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Changes to tax forms and publications
A number of cautions have been issued by the IRS in the past week about corrections to various forms and publications. The following documents are affected:
- Publication 463 Travel, Gift, Entertainment, and Car Expenses
The changes to the rules for qualifying dividends, to be enacted in the Tax Technical Corrections Act of 2003, have prompted changes to the online versions of
- Forms 1040 and 1040A U.S. Individual Income Tax Return, line 9b
- Form 1040NR U.S. Nonresident Alien Income Tax Return, line 10b
- Form 1041 U.S. Income Tax Return for Estates and Trusts, line 2b
- Form 1065 U.S. Return of Partnership Income, Schedules K and K-1, line 4b(1)
- Form 1065-B U.S. Return of Income For Electing Large Partnerships, lines 2a through 2c in Part II
- Form 1099-DIV Dividends and Distributions, line 1b, for issuers only (See also page DIV-1.)
- Form 1120S U.S. Income Tax Return for an S Corporation, Schedules K and K-1, line 4(b)(1)
- Form 8865 Return of U.S. Persons With Respect to Certain Foreign Partnerships, Schedules K and K-1, line 4b(1)
- Publication 17 Your Federal Income Tax (For Individuals), chapter 9
- Publication 553 Highlights of 2003 Tax Changes
- Publication 564 Mutual Fund Distributions
Further information:
www.irs.gov/formspubs/article/0,,id=109875,00.html
...back to 12 February 2004
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Changes to tax forms and publications
A number of cautions have been issued by the IRS in the past week about corrections to various forms and publications. The following documents are affected:
- Instructions for Form 1040NR U.S. Nonresident Alien Income Tax Return
- 2004 Form 1040-ES(NR) U.S. Estimated Tax for Nonresident Alien Individuals
- Form 8836-SP Comprobante de Residencia para los (las) Hijos(as) Calificados(as)
- Publication 571 Tax-Sheltered Annuity Plans (403(b) Plans)
Corrected versions may be downloaded by visiting the address below.
Further information:
www.irs.gov/formspubs/article/0,,id=109875,00.html
...back to 29 January 2004
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2004 Tax Calendar
The 2004 Tax Calendar for Small Businesses and Self-Employed is available, either to view online or to order. It provides information on general business taxes, electronic filing and paying options, business publications and forms, and common tax filing dates. Each page highlights different tax issues and tips that may be relevant to small business owners with room on each month to add notes, state tax dates, or business appointments.
Further information:
www.irs.gov/businesses/small/article/0,,id=104682,00.html
...back to 15 January 2004
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Changes to tax forms and publications
A number of cautions have been issued by the IRS in the past week about corrections to various forms and publications. The following documents are affected:
- Form 8868 Application for Extension of Time to File an Exempt Organization Return, used to seek an extension of time to file Form 990-T Exempt Organization Business Income Tax Return
- Publication 15-B Employer's Tax Guide to Fringe Benefits (For Benefits Provided in 2004)
Corrected versions may be downloaded by visiting the address below.
Further information:
www.irs.gov/formspubs/article/0,,id=109875,00.html
...back to 25 December 2003
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Changes to tax forms and publications
A number of cautions have been issued by the IRS over the past month about corrections to various forms and publications. The following documents are affected:
- 2003 Instructions for Form 6251 Alternative Minimum Tax - Individuals
- Form 6251 Alternative Minimum Tax - Individuals
- Publication 15-B Employer's Tax Guide to Fringe Benefits
- Publication 17 Your Federal Income Tax, for Individuals
- Publication 501 Exemptions, Standard Deduction, and Filing Information
- 2003 Instructions for Form 2441 Child and Dependent Care Expenses
- 2003 Instructions for Schedule 2 (Form 1040A) Child and Dependent Care Expenses for Form 1040A Filers
Corrected versions may be downloaded by visiting the address below.
Further information:
www.irs.gov/formspubs/article/0,,id=109875,00.html
...back to 18 December 2003
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Charities and tax-exempt status
The Internal Revenue Service has published two new brochures to help
charities understand the tax laws conferring tax-exempt status. The
benefits of having tax-exempt status include exemption from federal income
tax, eligibility to receive tax-deductible charitable contributions and, in
some cases, exemption from certain employment taxes.
Publication 4220 Applying for 501(c)(3) Tax-Exempt Status. This brochure
describes the responsibilities that accompany tax-exempt status, including
recordkeeping, filing requirements and disclosure requirements.
Publication 4221 Compliance Guide for 501(c)(3) Tax-Exempt Organizations.
This brochure provides more specific information on recordkeeping and the
990-series federal tax reports and returns that must be filed.
Further information:
www.irs.gov/newsroom/article/0,,id=117986,00.html
www.irs.gov/pub/irs-pdf/p4220.pdf
www.irs.gov/pub/irs-pdf/p4221.pdf
...back to 20 November 2003
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Statistics of Income Bulletin
The IRS has announced the release of the Summer 2003 issue of the Statistics of Income Bulletin. It includes articles on sole proprietorship returns, corporation income tax returns, foreign-controlled domestic corporations, sales of capital assets reports on individual income tax returns, U.S. possessions corporation returns and foreign recipients of U.S. income. The Bulletin includes historical data on income, deductions and tax reported on returns filed by individuals, corporations and unincorporated businesses.
Further information:
www.irs.gov/newsroom/article/0,,id=114364,00.html
...back to 31 October 2003
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For Payroll and Human Resource Professionals
