Re: [taxchat] RE - Employment Tax Adjustments, T.D. 9405

It is worth the 1/2 hour review to at least make us aware of these changes.  It is somewhat complex without having the time to review all the forms and adjustments.  It will be the way to go after the year is over and we will have to know the right way.

 

For those who will ask - and there will be - I strongly advise each of us to register at irs.gov for e-services and receive many different IRS e-mail newsletters that keep us up to date, at least in part to IRS changes.  Use the irs.gov website for some of your research and its free and getting better. I will send the group a link to this Phone Forum for some info and maybe a chance to register for a repeat of today's first session.

 

Arnie

----- Original Message -----

From: Cris Kelly

To: taxchat@yahoogroups.com

Sent: 12/09/2008 11:57 AM

Subject: RE: [taxchat] RE - Employment Tax Adjustments, T.D. 9405

Arnie

I plan on listening to the forum to day at 10 / was it worth your time?

Thanks,

Cris

From: taxchat@yahoogroups.com [mailto:taxchat@yahoogroups.com] On Behalf Of Arnold M. Socol
Sent: Tuesday, December 09, 2008 8:47 AM
To: taxchat@yahoogroups.com
Subject: [taxchat] RE - Employment Tax Adjustments, T.D. 9405

I just listened to an IRS Phone Forum on the *****New Rules for reporting Employment Tax adjustments.  Basically form 941c will be eliminated after the year end to be replaced by new X- Forms, 941X, 943X, 944X, 945X and CT-1X.  There will  be an interest free period under statute of limitations and a 90 day rule, if corrected within this period and before iRS assessments.  Included in the interest free period are employee misclassifications, ie self employeds that should have been employees. 

Arnie Socol
President
Ways & Means, Inc.
845-562-6070

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Arnie Socol
President
Ways & Means, Inc.
845-562-6070

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