Here’s a draft copy of what the IRS Form 941 changes for MAS90 and MAS200 users should look like. Check the IRS web site for the final forms or consult with your Sage Business Partner to have them help load the MAS90 Payroll update changes to your payroll system.
Notice 1400: IRS Tax Forms Booklets Not Being Mailed In 2011
According to a story in The Washington Post, The Internet Revenue Service will not mail out instructions or paper forms for the tax year 2011.
This change is expected to save the government $10 million annually and is happening because more Americans are filing online. According to the article only about 11.5 million people who filed paper tax returns in 2009 had received paper tax forms in the mail. The IRS normally starts mailing out the 2011 Form 1040 packages at the start of the new year. Last years’ mailing totalled 44 pages.
IRS Payroll Tax Tables – Publication 15 (Circular E) for 2011
We recommend that the IRS tax tables for 2011 be used on your first payroll run of the new year to manually verify that the tax tables you’ve uploaded to your computer system match with the official tables issued by the IRS.
Small discrepancies of a few centers are typical. If you’re seeing discrepancies of several dollars then you should check to be sure you have the proper Sage ERP MAS 90 or 200 tax tables installed .
We recommend that even after installing the Sage ERP MAS 90 or 200 tax table updates that you also go into the Circular E for 2011 and manually compute several (or all) tax withholdings for each of your employees.
Issues around incorrect tax tables are significantly easier to correct during the first payroll of the new year than if they’re discovered at year end and retroactive fixes need to be made.
When in doubt – be sure you consult with your tax progressional about proper tax treatment of both employee wages and any deductions which you are creating or continuing to use. The tax law changes frequently and it’s better to set these deductions up properly from the start than to notify employees midway through the 2011 tax year that there’s a change to their payroll withholding.
You can download the IRS tax tables from the IRS Site — http://www.irs.gov. Always check to be sure you are using the most current rates and that pending changes are included in any guides that you are using for reference. Pay attention to effective dates since some late changes may allow for adoption during the current year so long as you make adjustments. Consult your tax professional for advise on tax matters.
Charlie Don’t Surf. The IRS Doesn’t Email.
Have you (or someone you know) recently received an urgent email claiming to be from the IRS. Sometimes the email asks for personal information. In other cases it directs you to call an 800 number. In the most scary situations there’s an attachment known as the “Zeus Banking Trojan” that the scammers hope you’ll download.
Well don’t fall for it.
According to Connecticut CPA Thomas Scanlon – a widespread scam preys on the belief that if someone does not respond to an official looking email that there could be penalties.
Thomas’s recommendation – discard emails claiming to be from the IRS unopened.
W-11 HIRE Act Affidavit Released By IRS
Here’s the latest W-11 which is required for any companies looking to take advantage of the latest HIRE legislation.