The IRS has issued proposed regulations that would eliminate paper coupons for deposits of employment taxes, corporate income and estimated taxes, and many other taxes (REG-153340-09). The paper 8109 coupon payment system will be shut down at the end of 2010. Taxpayers currently still using the paper coupons to make [...] […]
There is a provision in the President’s fiscal year 2011 budget (Oct. 1, 2010 to Sept. 30, 2011) that would require quarterly W-2 reporting, rather than annual. The budget document says that increasing the timeliness of wage reporting would enhance tax administration, improve program integrity for a range of programs, and facilitate implementation of [...] […]
Found this handy calculator if you’re wondering if your business qualifies for the new small business tax credit on health insurance. Courtesy of National Federation of Independent Businesses. […]
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About
SMT & Associates is a Crystal Lake, IL based tax and accounting firm. We specialize in business tax and accounting issues, but also handle individual tax return preparation, tax planning and financial planning for individuals.