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  • Paying for Payroll Taxes With Form 8109 Coupon to End December 31st August 22, 2010
    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 [...] […]
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  • President’s budget proposal calls for quarterly W-2 reporting May 12, 2010
    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 [...] […]
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  • 2010 Health Insurance Reform Tax Credit Calculator for Small Business May 11, 2010
    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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Reasonable Compensation is Becoming a Hot Issue

Corporate officers will sometimes attempt to disguise what should be payment for services as distributions of cash, dividends, and loans as a means of avoiding payroll taxes on the income.  Because they are pass-through entities, Sub Chapter S corporations are especially prone to the misclassification of income attributable to a misunderstanding [...]

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June 26th, 2010 | Tags: , , , | Category: Business taxes, Payroll, Tax legislation, Uncategorized | Leave a comment