What you need to know for filing in ‘08
June 6, 2008 by Carol KatarskyPosted in: Hiring & training staff, IRS regs, In this week's e-newsletter, Internal controls, Latest news & views, Tax compliance
IRS just released the specs for a key form you’ll be filing at the end of ‘08: Form W-2, Copy A and Form W-2c have been updated, so make note of the following changes for ‘08 filing:
- Social Security wage base is $102,000.
- The Social Security coverage threshold for domestic employee wages is $1,600.
- Two new sections have been added that provide resources for processing questions and information on how to report money amounts that exceed the field length.
- Language has been modified in several records to clarify filing issues.
The deadline for electronic filing is March 31, 2009. Business Services Online filers can upload files starting Dec. 8, 2008. Electronic Data Transfer filers can transmit files starting Jan. 5, 2009.
You can get all the details at SSA’s site.
