FinanceRegs.com » Tax forms

New instructions for ‘09 Forms W-2, W-3

Carol Katarsky — Thu, 05 Feb 2009 11:00:16 +0000

Here’s the latest update on how to handle filing of these key forms.The instructions for TY ‘09 review changes made in the past year that will affect your filing process. They include:

Military differential pay
Online filing of W-2s and W-3s, as well as extended due dates for e-filers
Undeliverable W-2s, and
Reporting nonqualified deferred compensation.

Click to download the entire set of instructions.

New specs for substitute 1099s, W-2Gs and more

Carol Katarsky — Fri, 31 Oct 2008 10:00:13 +0000

Make sure your forms are up to date for Tax Year 2008 filing.

IRS just revised Publication 1179 “General Rules and Specifications for Substitute Forms 1096, 1098, 1099, 5498, W2-G and 1042-S.” It lists the most recent requirements for acceptable substitute forms as well as instructions for filing.

Download the publication here.

New info you need for Form 941, Schedule B

Carol Katarsky — Fri, 08 Aug 2008 10:00:07 +0000

Need-to-know info if you print your own Forms 941: IRS just released new specifications for preparing acceptable paper or computer-generated substitutes for Form 941, “Employer’s Quarterly Federal Tax Return” as well as Schedule B, “Report of Tax Liability for Semiweekly Schedule Depositors.”

The changes, outlined in Revenue Procedure 2008-32, include:

a new email address for the Substitute Forms Unit
a different room number in the Unit’s physical mailing address, and
a new 6 X 10 grid layout (Form 941).

You can get all the latest details, including the precise changes to the language on the form here.

Your new forms do not have to be submitted to IRS for approval.

One Accounting task just got easier (no, really)

Carol Katarsky — Wed, 28 May 2008 10:00:19 +0000

If you ever have to file a corrected employment tax return, IRS just made it a little easier.

IRS will release the new 94X series of forms in January of next year. Each version of the form will match up “line by line” with the tax return it corrects. Once the entire 94X series is out, you can use it to correct Forms 941, 943, 944 and 945. You’ll be able to use the forms for any errors discovered after Dec. 31, 2008.

Best of all: Each new form will stand alone, so you won’t have to attach it to your employment tax return. You can also send the “X” form as soon as you notice a mistake, instead of waiting until the new return is due.