IRS Not Mailing Forms 940, 941, 944 and Publication 15 to Employers

     I was recently informed by my IRS contact that the IRS is no longer mailing out the quarterly payroll tax reporting Forms 941. If you are waiting to receive that form in the mail as your reminder, as I have done, you will be in trouble as it is not coming. You have access to the forms through your QuickBooks payroll module or you can get a fill-in “pdf” form on the IRS’s website. QuickBooks is the best way for you as it completes the form for you. 

The due dates for each quarter are: 
April 30th for the quarter ended March 31st 
July 31st for the quarter ended June 30th 
October 31st for the quarter ended September 30th 
January 31st for the quarter ended December 31st 

If you have any questions, please let me know.

    New Desktop Calendar Tool

     The IRS has a new online tool to make it easier to remember important tax and deposit deadlines. Download the free IRS CalendarConnector and keep it on your computer desktop to check important tax dates on a daily, weekly or monthly basis.

    2011 Game Plan For Success

     IRS Publication 518 is a Tax Calendar for Small Businesses and Self-Employed.  Acrobat reader is required and can be downloaded from the IRS website. Publication 518 is located at http://www.irs.gov/pub/irs-pdf/p1518.pdf on the IRS website.

    Calendar of Federal Tax Due Dates

     IRS Publication 509 is a list of Federal tax filing due dates for 2007. Acrobat reader is required and can be downloaded from the IRS website. Publication 509 is located at http://www.irs.gov/pub/irs-pdf/p509.pdf on the IRS website.

     Increase Retirement Contributions     

     The 2006 maximum IRA contribution is $4,000. If you are age 50 or over, the "Catch-Up" provision allows for an additional $1,000. The 2007 contribution limit stays at $4,000; but the Catch-Up provision is eliminated for most taxpayers.  The 2008 maximum IRA contribution is $5,000 and will be indexed for inflation thereafter.

     Contributions can be made until the tax filing deadline (generally April 15th of the following year).

     The IRS announced an increase in the standard mileage rates

     Beginning October 1, 2011 , the standard mileage rates for the use of a car (including vans, pickups or panel trucks) will be:

  • $0.51 cents per mile for business miles driven;
  • $0.19 cents per mile driven for medical or moving purposes; and
  • $0.14 cents per mile driven in service to a charitable organization.

     Federal Per Diem Rates

     Federal allowable per diem rates change every October 1st (with the federal government's fiscal year.) The October 2006 to September 2007 minimum standard rates are:

$45 for meals
$96 for lodging
$141 for both

     Certain cities have higher allowable rates. Check out the rates for the city you are visiting by going to www.policyworks.gov/perdiem and clicking on appropriate state on the map. If the city is not listed, use the minimums above.