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internal revenue service sb/se office of communications 1222 spruce street stop 1020stl st louis mo 63103 publication 1518 rev 10-2010 catalog number 12350z department of the treasury internal revenue service www.irs.gov 2011 game plan for success irs tax calendar for small businesses and self-employed 2011 game plan for success irs tax calendar for small businesses and self-employed

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irs tax calendar for small businesses and self-employed 2011 welcome to the 2011 irs tax calendar for small businesses and self-employed we hope this year s sports theme will inspire your commercial ventures while helping you develop sound business practices our nation s economy has been a bit unsteady but our entrepreneurs have brought energy and spirit to help strengthen its overall health small businesses employ about half of all private sector u.s workers and have generated 60 to 80 percent of net new jobs annually over the last decade taxes contributed to our nation s budget by small businesses and the self-employed represent more than 45 percent of the total by all private firms so go ahead and take the first step and remember if after reading the following tips you still need a pep talk there are additional resources from the irs go to www.irs.gov/smallbiz what s inside available in both english and spanish publication 1518sp this calendar is filled with useful information to address your small business concerns each month highlights a different tax topic tax reminders and instructions are shown by date and you can add your own notes such as state tax dates or business appointments in addition to the monthly topics look to the last few pages for online resources and other ways that the irs can help you along with a list of forms and publications and a tear-out sheet of quick reference items the tax calendar is also available in an online version get it all at monthly topics january preparation and setting up february accounting methods and periods march retirement planning april travel and other business expenses may employee and worker issues june keeping good records july your rights as a taxpayer august electronic ways to file and pay september disaster recovery assistance october saving up to pay taxes and preventing identity theft november corresponding with the irs december tips on wage reporting mark your calendar for the 2011 irs nationwide tax forums the tax forums offer three days of seminars with the latest word from irs leaders and experts in tax law compliance and ethics tax professionals can earn up to 18 continuing professional education credits learn about the latest irs e-services products and schedule a visit to the case resolution program the forums also feature a two-day expo with products services and expertise from the irs business finance and tax software companies for tax forum dates and locations go to www.irs.gov search tax forums www.irs.gov search tax calendar this year s lineup health care tax credit health coverage legislation enacted this year includes a small business health care tax credit to help small businesses and small tax-exempt organizations provide health insurance coverage to their employees small businesses and tax-exempt organizations providing health insurance coverage will qualify for a special tax credit included in the health care reform legislation the patient protection and affordable care act encourages small business employers to offer health insurance coverage for the first time or maintain coverage they already have in general the credit is available to small business employers paying at least half the cost of single coverage for their employees go to www.irs.gov search health care tax credit the american recovery and reinvestment act arra of 2009 contains several tax provisions that affect businesses including the following provided health plan at the time of involuntary termination to qualify for the credit the eligible former employee must pay 35 percent of the total premium and the former employer claims the remaining 65 percent of the total premium as a credit on line 12a of form 941 employer s quarterly federal tax return the credit was first available with the first quarter form 941 due april 30 2009 the credit is subject to verification requirements so the former employer must keep adequate documentation to support the credit claimed the cobra subsidy is available to people who become eligible for cobra coverage as a result of a reduction in hours occurring between september 1 2008 and may 31 2010 followed by an involuntary termination between march 2 2010 and may 31 2010 individuals who did not take cobra coverage after the reduction in hours or who signed up but later dropped it get another chance to sign up for cobra coverage go to www.irs.gov search cobra hiring incentives to restore employment hire act two new tax benefits are now available to employers hiring individuals who were previously unemployed or only working part time these provisions are part of the hiring incentives to restore employment hire act enacted into law on march 18 2010 payroll ta x exemption for hiring the unemployed in their pockets if you have employees who earned less than $48,000 in 2010 they may qualify for the earned income tax credit or eitc however irs estimates that up to one in four qualifying individuals will fail to claim and receive the credit with your assistance we can reduce that number however before taxpayers can receive eitc they must first file federal income tax returns even if they are not otherwise required to file some states have a similar tax credit increasing the dollars due these employees irs has several resources to help you inform your employees about eitc go to the eitc employer page at http www.irs.gov individuals/article/0 id=129062,00.html for links to technical information communication toolkits and marketing materials corporate voices a leading nonprofit nonpartisan organization that represents the private sector on working family policy issues also publishes a downloadable employer eitc guide at http www.cvworkingfamilies.org some relatively inexpensive ways you can alert your employees about eitc include n n n the payroll tax exemption provides employers with an exemption from their 6.2 percent share of social security tax on wages paid to qualifying employees this provision is effective for wages paid from march 19 2010 through december 31 2010 business credit for retention of certain newly hired individuals in 2010 excise tax on indoor tanning services beginning july 1 2010 indoor tanning services will be subject to a 10 percent excise tax under the affordable care act indoor tanning service providers are responsible for collecting the tax from the person paying for the service and in some situations from the person receiving the service report the indoor tanning services tax quarterly on form 720 quarterly federal excise tax return go to www.irs.gov search indoor tanning this is a general business credit to encourage retention of new hires the employer may claim the credit for each qualified employee who remains an employee for 52 consecutive weeks provided that the employee s pay does not decrease significantly in the second half of the year the amount of the credit is the lesser of $1,000 or 6.2 percent of wages as defined for income tax withholding purposes paid by the employer to the retained qualified employee during the 52 consecutive week period the credit cannot be carried back but may be carried forward go to www.irs.gov search hire act posters in employee break rooms messages on your company intranet site articles in your company newsletter cobra changes the recovery act outlines changes to the health benefit provisions of the consolidated omnibus budget reconciliation act of 1985 the provision affects former employees and other potential cobra payers such as insurance carriers arra provides a 65 percent subsidy for up to 15 months of the cost of cobra coverage for an employee who was involuntarily terminated from his/her job from september 1 2008 through may 31 2010 the former employee must have been enrolled in an employer n a link from your intranet site to eitc information on www.irs.gov nnne-mail messages to your workforce stuffers with your form w-2 mail-out earned income tax credit help your employees increase their take-home pay at no cost to you please help us alert your employees about a valuable tax credit that could put up to $5,600 leveraging other internal communication channels including eitc information in new employee orientations n

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develop your game plan employer identification number ein you are required to have an ein if you answer yes to any of the following six questions 1 do you have employees 2 do you operate your business as either a corporation or partnership 3 do you file any of these tax returns employment excise or alcohol tobacco and firearms 4 do you withhold taxes on income other than wages paid to a non-resident alien 5 do you have a keogh plan 6 are you involved with any of the following types of organizations a trusts except certain grantor-owned revocable trusts iras exempt organization business income tax returns b estates c real estate mortgage investment conduits d non-profit organizations e farmers cooperatives f employee plans if you do need an ein use one of these four methods to apply n n n start by scouting and strategizing choosing a tax professional with your new responsibilities you may decide to hire a professional tax preparer to assist with your taxes someone with experience preparing tax returns for businesses similar to yours enrolled agents tax attorneys and certified public accountants have training and expertise in federal taxes when selecting a tax professional ask a few questions to see if he/she offers what you are looking for experience does the tax professional have experience in working with similar size and type businesses is the professional familiar with your particular line of business services does the tax professional offer electronic filing the safest and most efficient way to file your tax returns price what does the tax professional charge for services if the irs examines your return what is the tax professional s policy on assisting you are they authorized to practice before the irs references ask for a list of clients you can contact choosing a business structure your type of business determines which income tax forms you have to file common business structures are sole proprietorship partnership corporation s corporation and limited liability company legal and tax considerations enter into selecting a business structure sole proprietor ­ an individual who owns an unincorporated business by himself/herself partnership ­ a relationship where two or more persons join together to carry on a trade or business each person contributes money property labor or skill and expects to share in the profits and losses of the business corporation ­ a relationship where prospective shareholders exchange money property or both for the corporation s capital stock profits are taxed to the corporation when earned and then taxed to the shareholders when distributed as dividends s corporation ­ a corporation meeting certain criteria that elects to be treated as an s corporation generally an s corporation is exempt from income tax the shareholders report the s corporation s income deductions loss and credits on their individual tax returns limited liability corporation ­ an entity statutorily authorized in certain states that is characterized by limited liability for debts similar to that of a corporation management by members or managers and pass-through taxation similar to that of a partnership www.irs.gov search online ein call ein toll-free at 800-829-4933 fax a completed form ss-4 to the fax number in the ss-4 instructions n mail a completed form ss-4 to the address in the ss-4 instructions sunday monday tuesday wednesday thursday friday saturday winners never quit and quitters never win new year s day 1 ­ vince lombardi 2 3 4 5 6 deposit payroll tax for payments on jan 1­4 if the semiweekly deposit rule applies 7 8 9 employers employees are required to report to you tips of $20 or more earned during dec 2010 10 11 deposit payroll tax for payments on jan 5­7 if the semiweekly deposit rule applies 12 13 deposit payroll tax for payments on jan 8­11 if the semiweekly deposit rule applies 14 15 16 17 martin luther king jr s birthday 18 19 individuals pay the final installment of your 2010 estimated tax use form 1040-es farmers and fishermen pay your estimated tax for 2010 use form 1040-es employers deposit payroll tax for dec 2010 if the monthly deposit rule applies deposit payroll tax for payments on jan 12­14 if the semiweekly deposit rule applies 20 deposit payroll tax for payments on jan 15­18 if the semiweekly deposit rule applies 21 22 23 24 25 deposit payroll tax for payments on jan 19­21 if the semiweekly deposit rule applies 26 27 deposit payroll tax for payments on jan 22­25 if the semiweekly deposit rule applies 28 29 30 file form 720 for the 4th quarter of 2010 furnish forms 1098 1099 and w-2g to recipients for certain payments during 2010 and form w-2 to employees who worked for you during 2010 file form 730 and pay the tax on wagers accepted during dec 2010 deposit any futa tax owed through dec 2010 file form 2290 and pay the tax for vehicles first used in dec 2010 file forms 940 941 943 944 and/or 945 if you did not deposit all taxes when due 31 january 2011 december 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 february 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28

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out cash vs accrual of the starting gate business expenses are usually deducted in the year they are paid for example you order office supplies in october 2010 and they arrive in december 2010 you send a check to pay for them in january 2011 under the cash method you should claim that business expense deduction on your 2011 tax return because that is the year you paid for the supplies certain businesses cannot use the cash method in addition special rules apply for the accounting of inventory accrual method establish your accounting methods and periods choosing an accounting method every business taxpayer is required to have an accounting method to report income and expenses the two most commonly used methods are cash and accrual once you choose your accounting method you must follow it consistently generally you may not change your method of accounting unless you obtain permission from the irs cash method using the office supply example under the accrual method you may deduct the business expenses for supplies on your 2010 tax return the year you ordered the supplies and they were delivered even though you sent a check to pay for them in january 2011 you may deduct the expenses in 2010 because that is when you became liable for the expense see publication 538 accounting periods and methods fiscal year ­ runs for 12 consecutive months ending on the last day of any month except december the selected tax year must be used on your first tax return and for all subsequent returns unless you get irs approval to change you can request a change to your tax year by filing form 1128 application to adopt change or retain a tax year see publication 538 accounting periods and methods choosing a tax year calendar vs fiscal due to its simplicity the cash method is a popular choice for small businesses to determine gross income add up the cash checks and fair market value of property and services you receive during the year if you receive a check on december 28 2010 but decide not to cash or deposit it until after december 31 2010 you must still count the check as income in the year you received it with the accrual method income is reported in the year in which all events that fix the right to receive it have occurred and the amount can be determined with reasonable accuracy even if income was received in a different year for example the accrual method calls for income to be reported when a service is performed it doesn t matter that the customer doesn t pay until the following year similarly you deduct business expenses in the year the liability arises regardless of when they are actually paid each taxpayer must figure taxable income on the basis of an annual accounting period for keeping records and reporting income and expenses two choices are available calendar year ­ runs from january 1 through december 31 and generally may be adopted by anyone in some instances a calendar year is required sunday monday tuesday wednesday thursday friday saturday reminder for corporations estimated tax payment due dates are the 15th day of the 4th 6th 9th and 12th months of the corporate tax year 1 deposit payroll tax for payments on jan 26­28 if the semiweekly deposit rule applies 2 3 deposit payroll tax for payments on jan 29­feb 1 if the semiweekly deposit rule applies 4 5 see instructions for form 1120-w for additional information 6 7 8 deposit payroll tax for payments on feb 2­4 if the semiweekly deposit rule applies 9 employers employees are required to report to you tips of $20 or more earned during jan file 2010 forms 940 941 943 944 and/or 945 if you timely deposited all required payments 10 deposit payroll tax for payments on feb 5­8 if the semiweekly deposit rule applies 11 12 13 14 20 washington s birthday 21 file a new form w-4 if you claimed exemption from income tax withholding in 2010 begin withholding on employees who claimed exemption from withholding in 2010 but did not file a w-4 to continue withholding exemption in 2010 furnish forms 1099-b 1099-s and certain forms 1099-misc to recipients deposit payroll tax for jan if the monthly deposit rule applies 15 deposit payroll tax for payments on feb 9­11 if the semiweekly deposit rule applies 16 17 deposit payroll tax for payments on feb 12­15 if the semiweekly deposit rule applies 18 19 22 23 deposit payroll tax for payments on feb 16­18 if the semiweekly deposit rule applies 24 deposit payroll tax for payments on feb 19­22 if the semiweekly deposit rule applies 25 26 27 file information returns including forms 1098 1099 and w-2g for payments made during 2010 file form w-3 with copy a of all forms w-2 issued for 2010 file form 8027 if you are a large food or beverage establishment file form 730 and pay the tax on wagers accepted during jan file form 2290 and pay the tax for vehicles first used in jan farmers and fisherman file 2010 form 1040 and pay any tax due however you have until apr 15 to file if you paid your 2010 estimated tax payments by jan 15 2011 28 february 2011 january 2 9 16 23 30 3 4 5 6 7 10 11 12 13 14 17 18 19 20 21 24 25 26 27 28 31 1 8 15 22 29 1 2 6 7 8 9 13 14 15 16 20 21 22 23 27 28 29 30 march 3 4 5 10 11 12 17 18 19 24 25 26 31

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run 401k the ira sep simple and 401k plans whether retirement days are near or far you should be up-to-date on the types of retirement plans available to you and your employees the plans you will hear most about are ira sep simple and 401k in addition to providing for your retirement they may offer significant tax benefits today pace y race to retirement rewards our sep plan the simplified employee pension sep was specifically designed for small employers and has very few administrative burdens or costs employer contributions are made directly to iras that the employer sets up for the employees for additional information see publication 4333 sep retirement plans for small businesses businesses considering a retirement plan employees may defer a portion of their salary as either a pre-tax or an after-tax contribution as with iras there are different kinds of 401k plans depending on the type the employer can make either non-elective or matching employer contributions for additional information see publication 4222 401k plans for small businesses for assistance in determining what type of plan might be best for you and your small business see publication 3998 choosing a retirement plan for your small business think check-up now help your retirement plan thrive by taking a check-up featuring a checklist of some of the basic requirements for operating your plan just go to the tax information for retirement plans community page at www.irs.gov and search retirement plans check-up see publication 590 individual retirement arrangements iras including roth iras and education iras and publication 560 retirement plans for small business sep simple and qualified plans for additional information on employer sponsored pension plans call employee plans customer account services at 877-829-5500 retirement plan fix-it guides you may find the sep simple ira plan and 401k fix-it guides at the irs.gov website tips on how to find fix and avoid common mistakes for these plans are a sure-fire way to keep your plans healthy individual retirement arrangement iras are plans that let you set aside money for your retirement banks financial institutions mutual funds and stockbrokers are among those who offer ira accounts traditional ira simple plan generally employers can set up a savings incentive match plan for employees if they have 100 or fewer employees and meet several other requirements a simple plan is an arrangement under which an employer makes contributions to employees simple retirement accounts additionally employees can make salary reduction contributions the two types of simple plans are the simple ira and simple 401k plans for additional information see publication 4334 simple ira plans for small businesses to contribute to a traditional ira you must be under age 70½ at the end of the tax year and have taxable compensation greater than or equal to your contribution during the year contributions may be tax deductible in full or in part depending on your circumstances the amounts earned by your ira contributions are usually not taxed until you withdraw the money generally you can t withdraw money from your ira before you turn age 59½ without paying income taxes and a 10 percent additional tax roth ira 401k plan 401k plans are the most popular type of retirement plan used today they can be a powerful tool in promoting financial security in retirement for employees and are a valuable option for regardless of your age you may be able to set up a roth ira you can t deduct your contributions but if certain requirements are met earnings will be tax-free sunday monday tuesday wednesday thursday friday saturday adversity causes some men to break others to break records 1 ­ william arthur ward deposit payroll tax for payments on feb 23­25 if the semiweekly deposit rule applies 2 3 deposit payroll tax for payments on feb 26­mar 1 if the semiweekly deposit rule applies 4 5 6 7 8 deposit payroll tax for payments on mar 2­4 if the semiweekly deposit rule applies 9 employers employees are required to report to you tips of $20 or more earned during feb 10 deposit payroll tax for payments on mar 5­8 if the semiweekly deposit rule applies 11 12 13 14 15 20 21 22 corporations file form 1120 for 2010 calendar year and pay any tax due for automatic 6-month extension file form 7004 and deposit estimated tax s corporations file form 1120s for 2010 calendar year and pay any tax due furnish a copy of sch k-1 to each shareholder file form 2553 to elect s corporation status beginning with calendar year 2011 file form 2553 to elect to be treated as an s corporation beginning with calendar year 2011 electing large partnerships furnish sch k-1 form 1065-b to each partner employers deposit payroll tax for feb if the monthly deposit rule applies deposit payroll tax for payments on mar 9­11 if the semiweekly deposit rule applies 16 17 deposit payroll tax for payments on mar 12­15 if the semiweekly deposit rule applies 18 19 deposit payroll tax for payments on mar 16­18 if the semiweekly deposit rule applies 23 24 deposit payroll tax for payments on mar 19­22 if the semiweekly deposit rule applies 25 26 27 28 29 deposit payroll tax for payments on mar 23­25 if the semiweekly deposit rule applies 30 31 electronically file forms w-2 w-2g 1098 1099 and 8027 file form 2290 and pay the tax for vehicles first used in feb file form 730 and pay the tax on wagers accepted during feb march 2011 february 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 april

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rev engines your car,travel and other business expenses car expenses to take a business deduction for the use of your car you must determine what percentage of the vehicle was used for business no deduction is allowed for strictly personal use such as commuting deductible car expenses can include the cost of 1 traveling from one workplace to another 2 making business trips to visit customers or attending business meetings away from your regular workplace and 3 traveling to temporary workplaces it is important to keep complete records to substantiate items reported on a tax return in the case of car and truck expenses the types of records required depend on whether the taxpayer claims the standard mileage rate or actual expenses standard mileage rate to claim the standard mileage rate appropriate records would include documentation identifying the vehicle and proving ownership or a lease and documentation showing miles traveled destination and business purpose the 2011 standard mileage rates for the use of a car including vans pickups or panel trucks are on irs.gov search standard mileage rate actual expenses for actual expenses add your annual car operating expenses including gas oil tires repairs license fees lease payments registration fees garage rental insurance and depreciation multiply the car operating expenses by the percentage of business usage to arrive at your deductible expense businessrelated parking and road tolls are fully deductible expenses that do not have to be reduced by the percentage of business usage see publication 463 travel entertainment gift and car expenses for additional information travel expenses travel expenses are ordinary and necessary expenses while away from home for the primary purpose of business keep all receipts and relevant documentation to substantiate where you went why for how long and amount spent if you combined business and personal travel show how much is related to business lodging receipts these should show the travel location duration of your stay costs and expenses keep records for cleaning and laundry telephone charges tips and other charges not shown separately transportation receipts these include airplane train or bus ticket stubs travel agency receipts rental car or taxi receipts etc showing the amounts dates and destinations meal receipts generally you must keep a log of your meal expenses and save receipts for amounts of $75 or more either track the actual costs of your meals or use the standard meal allowance if you qualify you may only claim a deduction for 50 percent of the unreimbursed cost of your meals business use of your home if you use part of your home for business you may be able to deduct expenses for the business use of your home these expenses may include mortgage interest insurance utilities repairs and depreciation to qualify you must meet both of the following tests the business part of your home must be used exclusively and regularly for your trade or business however there are exceptions for daycare facilities or storage of inventory product samples n n entertainment expenses entertainment includes any activity generally considered to provide entertainment amusement or recreation generally to be deductible for tax purposes you must show that entertainment expenses including meals are directly related to or associated with the conduct of your trade or business you must also have records to prove the business purpose under the applicable test and the amount of each expense the date and place of the entertainment and the business relationship of the persons entertained entertainment expenses are usually subject to a 50 percent limit the business part of your home must be ­ your principal place of business or ­ a place where you meet or deal with patients clients or customers in the normal course of your trade or business or ­ a separate structure not attached to your home used in connection with your trade or business for a full explanation of tax deductions for your home office refer to publication 587 business use of your home gift expenses if you give gifts in the course of your trade or business you can deduct all or part of the cost generally you can deduct no more than $25 for business gifts you give directly or indirectly to each person during your tax year see publication 463 travel entertainment gift and car expenses and publication 535 business expenses for additional information sunday monday tuesday wednesday thursday friday saturday reminder for self-employed individuals estimated tax payments due dates are april 15 2011 june 15 2011 september 2011 and january 16 2012 deposit payroll tax for payments on mar 26­29 if the semiweekly deposit rule applies 1 2 see instructions for form 1040-es for additional information 3 4 5 deposit payroll tax for payments on mar 30­ apr 1 if the semiweekly deposit rule applies 6 7 deposit payroll tax for payments on apr 2­5 if the semiweekly deposit rule applies 8 9 10 employers employees are required to report to you tips of $20 or more earned during mar 11 12 deposit payroll tax for payments on apr 6­8 if the semiweekly deposit rule applies 13 14 15 note the irs has approved monday april 18 as the deadline for filing of 2010 returns 16 17 individuals file 2010 form 1040 1040a or 1040ez for automatic 6-month extension file form 4868 and deposit estimated tax pay the first installment of 2011 estimated tax partnerships file 2010 form 1065 and furnish a copy of sch k-1 to each partner electing large partnerships file 2010 form 1065 calendar year return corporations deposit the first installment of your estimated tax for 2011 employers deposit payroll tax for mar if the monthly deposit rule applies deposit payroll tax for payments on apr 9-12 if the semiweekly deposit rule applies household employers file sch h with form 1040 if you paid $1,700 or more to a house-hold employee 18 deposit payroll tax for payments on apr 13­15 if the semiweekly deposit rule applies 20 21 deposit payroll tax for payments on apr 16­19 if the semiweekly deposit rule applies 22 23 24 25 26 deposit payroll tax for payments on apr 20­22 if the semiweekly deposit rule applies 27 28 deposit payroll tax for payments apr 23­26 if the semiweekly deposit rule applies 29 30 april 2011 march 6 13 20 27 7 14 21 28 1 2 3 4 5 8 9 10 11 12 15 16 17 18 19 22 23 24 25 26 29 30 31 may 1 2 8 9 15 16 22 23 29 30 3 4 5 6 7 10 11 12 13 14 17 18 19 20 21 24 25 26 27 28 31

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great your payroll maintaining good payroll records is critical for both you and your employees records keep detailed employment tax records see publication 15 circular e employer s tax guide for more information teamwork important employer tax forms form i-9 employment eligibility verification must be completed for each newly hired employee to demonstrate the employer s compliance with the law and the employee s work authorization form w-2 wage and tax statement is the annual statement you give to employees showing their earnings and withholdings for the year generally you must provide the statement by january 31 of the following year copy a of form w-2 is due to the social security administration on the last day of february although electronic filers have until the last day of march form w-4 employee s withholding allowance certificate ask each new employee to complete and return form w-4 showing filing status and withholding allowances verify the social security number with the employee s social security card employee and worker issues form w-5 earned income credit advance payment certificate the earned income credit for low-income taxpayers allows advance payment of part of the credit eligible employees must submit form w-5 to their employers form w-11 hiring incentives to restore employment hire act employee affidavit use form w-11 to confirm that an employee is a qualified employee under the hire act form 940 employer s annual federal unemployment futa tax return generally federal unemployment tax is computed on the first $7,000 of each employee s earnings if the futa tax liability is more than $500 you must make quarterly deposits form 941 employer s quarterly federal tax return this is your quarterly report of wages paid tip income received by employees income tax withheld social security and medicare taxes and tips paid to employees form 944 employer s annual federal tax return a variation of form 941 this is an annual wage report for employers whose total annual liability for income tax withheld social security and medicare taxes is $1,000 or less if you qualify to file form 944 the irs will notify you beginning with tax year 2010 employers that otherwise would be required to file form 944 can notify the irs if they want to elect to file form 941 quarterly instead of form 944 annually for additional guidance go to www.irs.gov and search form 944 family help employment tax requirements for family employees may vary from those that apply to other employees special rules exist for hiring a spouse child or parent for additional information go to www.irs.gov and search family help independent contractor or employee it is critical that you the employer correctly determine whether the individuals providing services are employees or independent contractors generally you must withhold income taxes withhold and pay social security and medicare taxes and pay unemployment tax on employee wages you do not generally have to withhold or pay any taxes on payments to independent contractors generally whether a worker is an employee or an independent contractor depends upon how much control you have as a business owner the irs uses three broad categories to determine this behavioral control financial control and the type of relationship publication 1779 independent contractor or employee provides guidance if after reviewing these categories the determination remains unclear you may file form ss-8 determination of worker status for purposes of federal employment taxes and income tax withholding and the irs will determine the worker s status if you have an independent contractor you may be required to issue form 1099-misc for payments totaling $600 or more in a calendar year form w-9 request for taxpayer identification number and certification may be used to obtain the payee s taxpayer identification number and to certify that no backup withholding is required for more information go to www.irs.gov and search independent contractor also see publication 15 circular e employer s tax guide and publication 15-a employer s supplemental tax guide tips tip income employees receive from customers is taxable employees must report cash check debit or credit card tips to you by the 10th of the month after the month the tips were received if tip income is below a threshold amount no withholding will be required large food or beverage establishments may be required to file form 8027 employer s annual information return of tip income and allocated tips see publication 531 reporting tip income for more details withholding keep track of withheld federal income tax social security and medicare taxes state and local taxes and the net amount paid to each employee during the year sunday monday tuesday wednesday thursday friday saturday 1 file form 720 for the 1st quarter of 2011 file form 730 and pay the tax on wagers accepted during mar file form 2290 and pay the tax on vehicles first used in mar employers file form 941 for the first quarter of 2011 deposit futa tax owed through mar if more than $500 2 3 deposit payroll tax for payments on apr 27­29 if the semiweekly deposit rule applies 4 5 deposit payroll tax for payments on apr 30­may 3 if the semiweekly deposit rule applies 6 7 8 9 employers employees are required to report to you tips of $20 or more earned during apr file form 941 for the first quarter of 2011 if you timely deposited all required payments 10 deposit payroll tax for payments on may 4­6 if the semiweekly deposit rule applies 11 12 deposit payroll tax for payments on may 7­10 if the semiweekly deposit rule applies 13 14 15 deposit payroll tax for apr if the monthly deposit rule applies 16 17 deposit payroll tax for payments on may 11­13 if the semiweekly deposit rule applies 18 19 20 deposit payroll tax for payments on may 14­17 if the semiweekly deposit rule applies 21 22 23 24 deposit payroll tax for payments on may 18­20 if the semiweekly deposit rule applies 25 26 deposit payroll tax for payments on may 21­24 if the semiweekly deposit rule applies 27 28 29 memorial day 30 31 help us help you and other small businesses please give us your feedback so we can continue to improve this calendar http www.tax.gov/rateourproducts may 2011 april 3 4 5 6 7 10 11 12 13 14 17 18 19 20 21 24 25 26 27 28 1 2 8 9 15 16 22 23 29 30 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 june

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set nnnnnn some monitor results and keep good documentation receipts and records keeping good records is a very important part of the growth and maintenance of your business good records will help you monitor the progress of your business prepare your financial statements identify source of receipts keep track of deductible expenses prepare your tax returns support items reported on tax returns your bank or creditors and help you manage your business n an income statement shows the business income and expenses for a given period records a balance sheet shows the assets liabilities and your equity in the business on a given date n support items reported on tax returns you must keep your business records available at all times for inspection by the irs if the irs examines any of your tax returns you may be asked to explain the items reported a complete set of records will speed up the examination so what s the best way to keep records simple use any recordkeeping system that clearly and accurately reflects your income and expenses keep in mind your tax records must support all the income tax deductions and credits listed on your tax return be sure to separate your business and personal receipts and your taxable and nontaxable income recording expenses record your expenses when you pay or incur them depending on your method of accounting it s easy to forget last year s expenses when you re filling out this year s return don t overlook deductions for which you qualify keeping a record of your business assets your business assets are the property and equipment you own and use for your business keep a complete and detailed record of such assets showing when you acquired them how much you paid for them and how the assets are used in your business this record will allow you to depreciate your assets properly and report the correct gain or loss when you dispose of them how long should i keep records the length of time you should keep a document depends on the action expense or event the document verifies you must keep your records as long as they may be needed to prove the income or deductions on a tax return how long should i keep employment tax records you must keep all records of employment taxes for at least four years are the records connected to assets keep records relating to property until the period of limitations expires for the year in which you dispose of the property in a taxable disposition you must keep these records to figure any depreciation amortization or depletion deduction and to figure the gain or loss when you sell or otherwise dispose of the property what should i do when i no longer need my records for tax purposes when your records are no longer needed for tax purposes do not discard them until you check to see if you have to keep them longer for other purposes for example your insurance company or creditors may require you to keep them longer than the irs does see publication 583 starting a business and keeping records identify source of receipts you will receive money or property from many sources your records can identify the source of your receipts you need this information to separate business from non-business receipts and taxable from nontaxable income monitor the progress of your business you need good records to monitor the progress of your business records can show whether your business is improving which items are selling or what changes you need to make good records can increase the likelihood of business success keep track of deductible expenses you may forget expenses when preparing your tax return unless you record them when they occur prepare your tax return you need good records to prepare your tax returns these records must support the income expenses and credits you report generally these are the same records you use to monitor your business and prepare your financial statement prepare your financial statements you need good records to prepare accurate financial statements these include income profit and loss statements and balance sheets these statements can help you in dealing with sunday monday tuesday wednesday thursday friday saturday you can t put a limit on anything the more you dream the farther you get ­ michael phelps file form 730 and pay the tax on wagers accepted during april file form 2290 and pay the tax for vehicles first used during april 1 deposit payroll tax for payments on may 25­27 if the semiweekly deposit rule applies 2 deposit payroll tax for payments on may 28­31 if the semiweekly deposit rule applies 3 4 5 6 7 deposit payroll tax for payments on june 1­3 if the semiweekly deposit rule applies 8 9 employers employees are required to report to you tips of $20 or more earned during may deposit payroll tax for payments on june 4­7 if the semiweekly deposit rule applies 10 11 12 13 14 15 16 individuals outside the u.s file 2010 form 1040 individuals pay the second installment of estimated tax for 2011 corporations deposit the second installment of your 2011 estimated tax employers deposit payroll tax for may if the monthly deposit rule applies deposit payroll tax for payments on june 8­10 if the semiweekly deposit rule applies deposit payroll tax for payments on june 11­14 if the semiweekly deposit rule applies 17 18 19 20 21 deposit payroll tax for payments on june 15­17 if the semiweekly deposit rule applies 22 23 deposit payroll tax for payments on june 18­21 if the semiweekly deposit rule applies 24 25 26 27 28 deposit payroll tax for payments on june 22­24 if the semiweekly deposit rule applies 29 file form 730 and pay the tax on wagers accepted during may file form 2290 and pay the tax for vehicles first used during may 30 june 2011 may 1 2 8 9 15 16 22 23 29 30 3 4 5 6 7 10 11 12 13 14 17 18 19 20 21 24 25 26 27 28 31 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 july

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make the rightcall proposed changes and request the case be reviewed by the irs appeals office if you do not wish to use the appeals process or disagree with the appeals findings you may be able to take your case to the u.s tax court u.s court of federal claims or u.s district court help from the ta xpayer advocate service small business regulatory enforcement fairness act your rights as a taxpayer irs employees will explain and protect your rights as a taxpayer throughout your contact with the irs the irs will not disclose to anyone the information you provide except as authorized by law you have the right to know why the irs is asking for information how it will be used and what happens if you do not provide the requested information refer to publication 1 your rights as a taxpayer the taxpayer advocate service is an independent organization within the irs created to assist taxpayers seeking help in resolving tax problems that are not resolved through normal channels or who believe that an irs system or procedure is not working as it should to contact tas call 877-777-4778 or 800-829-4059 for tty/tdd or go to www.irs.gov and search taxpayer advocate service to see if you are eligible for assistance if you believe your small business has been the subject of excessive or unfair regulatory enforcement or compliance actions from any federal agency you may file a complaint with the small business administration s national ombudsman under the authority of sbrefa to contact the sba regarding sbrefa call 202-205-2417 or e-mail ombudsman@sba.gov collection if you can t pay all the tax due you may be able to make monthly installment payments penalties and interest for late payment will still apply unless reasonable cause is established even if you can t pay the total tax due be sure to file all tax returns timely to avoid a late filing penalty publication 594 the irs collection process explains your rights and responsibilities regarding payment of federal taxes it describes what to do when you owe taxes and the collection actions the irs may take representation you may represent yourself or with proper written authorization have someone else represent you your representative must be a person allowed to practice before the irs such as an attorney certified public accountant or enrolled agent examination the irs accepts most taxpayers returns as filed if the irs inquires about your return or selects it for examination that does not suggest you are dishonest the inquiry or examination may or may not result in more tax your case may be closed without change or you may receive a refund appeals and judicial review publication 5 your appeal rights and how to prepare a protest if you don t agree explains your right to disagree with an examiner s sunday monday tuesday wednesday thursday friday saturday my motto was always to keep swinging whether i was in a slump or feeling badly or having trouble off the field the only thing to do was keep swinging ­ hank aaron file form 11-c to register and pay annual tax if you are in the business of taking wagers deposit payroll tax for payments on june 25­28 if the semiweekly deposit rule applies 1 2 3 independence day 4 5 6 deposit payroll tax for payments on june 29­july 1 if the semiweekly deposit rule applies 7 deposit payroll tax for payments on july 2­5 if the semiweekly deposit rule applies 8 9 10 employers employees are required to report to you tips of $20 or more earned during june 11 12 deposit payroll tax for payments on july 6­8 if the semiweekly deposit rule applies 13 14 deposit payroll tax for june if the monthly deposit rule applies deposit payroll tax for payments on july 9­12 if the semiweekly deposit rule applies 15 16 17 18 19 20 deposit payroll tax for payments on july 13­15 if the semiweekly deposit rule applies 21 deposit payroll tax for payments on july 16­19 if the semiweekly deposit rule applies 22 23 24 31 25 26 deposit payroll tax for payments on july 20­22 if the semiweekly deposit rule applies 27 28 deposit payroll tax for payments on july 23­26 if the semiweekly deposit rule applies 29 30 july 2011 june 5 6 7 12 13 14 19 20 21 26 27 28 1 2 3 4 8 9 10 11 15 16 17 18 22 23 24 25 29 30 august 1 2 7 8 9 14 15 16 21 22 23 28 29 30 3 4 5 6 10 11 12 13 17 18 19 20 24 25 26 27 31

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soar irs e-file for business and self-employed taxpayers right along filing electronically is fast and ez benefits of paying business taxes by electronic funds withdrawal e-filing a balance due return with an electronic payment is a safe and convenient way to be assured of on-time receipt and acknowledgement paying business taxes by electronic funds withdrawal can be made for n irs e-file has become the most-used option for filing individual and business tax returns the irs will confirm receipt of your return within just 48 hours e-filers receive refunds in about half the time as do paper filers even faster with direct deposit e-file also offers the convenience of filing tax returns early and delaying payments owed until the due date in most states you may e-file your federal and state returns at the same time e-file forms include nnnn form 720 quarterly federal excise tax return forms 940 941 and 944 n n employment taxes ­ forms 940 941 and 944 partnerships ­ forms 1065 and 1065-b estates and trusts ­ form 1041 form 1041 u.s income tax return for estates and trusts form 1120 and form 1120-s u.s corporation income tax return and schedule k-1 including amended returns n information returns ­ forms 1042-s 1098 1099 5498 8027 and w-2g corporations ­ forms 1120 and 1120-s excise tax ­ form 720 heavy highway use vehicle tax ­ form 2290 nnnnn form 2290 heavy highway vehicle use tax return form 7004 application for automatic 6-month extension of time to file certain business income tax information and other returns form 8868 application for extension of time to file an exempt organization return and form 990-pf return of private foundation or section 4947a 1 nonexempt charitable trust treated as a private foundation and form 1120-pol payments scheduled for withdrawal on or before the return due date will be considered timely forms 940 941 and 944 payments cannot be scheduled in advance eftps express enrollment for new businesses and required ta xpayers n charities and non-profits ­ forms 990 990-ez 990-n 990-pf and 1120-pol extensions of time to file ­ forms 7004 and 8868 electronic federal tax payment system pays all your federal taxes securely eftps allows taxpayers to schedule their payment instructions up to 120 days in advance of a due date for business taxes and 365 days for individual taxes eftps is safe and easy to use plus you receive an immediate acknowledgement number as a receipt for every transaction you also get a 16-month payment history online any new business taxpayer who requests a new employee identification number and has federal tax deposit obligations is pre-enrolled in eftps in addition business taxpayers who previously used federal tax deposit coupons should consider using eftps to make their payments electronically to enroll or for additional information visit the eftps website or call eftps customer service at 800-555-4477 800-733-4829 tdd or 800-244-4829 spanish n n methods to electronically file your employment taxes include n n n using an authorized irs e-file provider using a payroll service provider reporting agent or using a third-party transmitter n n payments can also be made for penalties related to form 1065 and form 1065-b partnership returns sunday monday tuesday wednesday thursday friday saturday file form 720 for the 2nd quarter of 2011 file form 730 and pay the tax on wagers accepted during june file form 2290 and pay the tax for vehicles first used during june employers deposit futa owed through june if more than $500 file form 941 for the 2nd quarter of 2011 file 2010 form 5500 or 5500-ez 1 2 deposit payroll tax for payments on july 27­29 if the semiweekly deposit rule applies 3 4 deposit payroll tax for payments on july 30­aug 2 if the semiweekly deposit rule applies 5 6 7 8 9 employers employees are required to report to you tips of $20 or more earned during july file form 941 for the second quarter of 2011 if you timely deposited all required payments deposit payroll tax for payments on aug 3­5 if the semiweekly deposit rule applies 10 11 deposit payroll tax for payments on aug 6­9 if the semiweekly deposit rule applies 12 13 14 deposit payroll tax for july if the monthly deposit rule applies 15 16 deposit payroll tax for payments on aug 10­12 if the semiweekly deposit rule applies 17 18 deposit payroll tax for payments on aug 13­16 if the semiweekly deposit rule applies 19 20 21 22 23 deposit payroll tax for payments on aug 17­19 if the semiweekly deposit rule applies 24 25 deposit payroll tax for payments on aug 20­23 if the semiweekly deposit rule applies 26 27 28 29 30 file form 730 and pay tax on wagers accepted during july file form 2290 and pay the tax for vehicles first used during july deposit payroll tax for payments on aug 24­26 if the semiweekly deposit rule applies 31 help us help you and other small businesses please give us your feedback so we can continue to improve this calendar http www.tax.gov/rateourproducts august 2011 july 3 4 5 6 7 10 11 12 13 14 17 18 19 20 21 24 25 26 27 28 31 1 2 8 9 15 16 22 23 29 30 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 september

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out of the rough in addition you may scan your paper documents w-2s tax returns and other records to create electronic files for safekeeping be sure to store these backup files in a safe location apart from your business in case your normal backup systems are destroyed convenience to your home should not be your primary concern remember a disaster that strikes your home may also affect other facilities nearby making quick retrieval of your records difficult and even impossible continuity of operations planning how quickly your company can get back to business after a disaster strikes often depends on the emergency planning you do today plan now to improve your company s ability to survive and recover and then review your emergency plans annually just as your business changes over time so do your preparedness needs when you hire new employees or changes occur in how your company functions you should update your plans and inform your employees here are preparedness strategies n count on the irs in the event of a disaster the irs stands ready to help you if your records are destroyed you can request a copy for a fee of a tax return and all attachments including form w-2 by using form 4506 request for copy of tax return if you need only the information from your return you can order a free transcript by calling 800-829-1040 or using form 4506-t request for transcript of tax return references/related topics help in recovering from disaster planning what to do in case of a disaster is an important part of being prepared the irs encourages taxpayers to safeguard their records some simple steps can help taxpayers and businesses protect financial and tax records www.irs.gov search disaster nnnnn security in electronic recordkeeping many people receive bank statements and documents electronically this method allows for easy backup to ensure secure record keeping to backup copy these files onto a portable electronic storage device such as a flash drive or onto a cd or dvd learn about various hazards and emergencies and how to respond to each keep apprised of community warning systems and evacuation routes identify where you and your employees may seek shelter from all types of hazards determine how to communicate with employees and customers in the event of emergency develop and document an emergency plan collect and assemble a disaster supply kit including a portable generator include required information from community and school plans use cell phones walkie-talkies or other nonelectrical communication devices as backups backup computer data systems regularly practice and maintain your plan preparing for a disaster tax relief in disaster situations reconstructing your records publication 552 recordkeeping for individuals n n publication 583 starting a business and keeping records fema federal disaster declarations n n document valuables and equipment publications 584 casualty disaster and theft loss workbook and 584-b business casualty disaster and theft loss workbook can help you compile a room-by-room list of your belongings or business equipment this will help you recall and document the market value of items for insurance and casualty loss claims you can also photograph or video the contents of your home and/or business especially items of great value n n special disaster provisions special tax law provisions may help taxpayers and businesses recover financially from the impact of a disaster especially when the president declares their location to be a major disaster area depending on the circumstances the irs may grant additional time to file returns and pay taxes nnnn verify fiduciary bonds employers who use payroll service providers should ask the provider if they have a fiduciary bond in place the bond could protect the employer in the event of default by the payroll service provider during a disaster sunday monday tuesday wednesday thursday friday saturday 1 if you watch a game it s fun if you play it it s recreation if you work at it it s golf ­ bob hope deposit payroll tax for payments on aug 27­30 if the semiweekly deposit rule applies 2 3 4 labor day 5 6 7 deposit payroll tax for payments on aug 31­sep 2 if the semiweekly deposit rule applies 8 deposit payroll tax for payments on sep 3­6 if the semiweekly deposit rule applies 9 10 11 employers employees are required to report to you tips of $20 or more earned during august 12 13 deposit payroll tax for payments on sep 7­9 if the semiweekly deposit rule applies 14 18 19 20 deposit payroll tax for payments on sep 14­16 if the semiweekly deposit rule applies 21 individuals pay the third installment of your estimated tax for 2011 partnerships file 2010 form 1065 if you timely requested a 5-month extension deposit payroll tax for aug if the monthly deposit rule applies corporations file calendar year 2010 form 1120 or 1120s if you timely requested a 6-month extension deposit third installment of your 2011 estimated tax 15 deposit payroll tax for payments on sep 10­13 if the semiweekly deposit rule applies 16 17 22 deposit payroll tax for payments on sep 17­20 if the semiweekly deposit rule applies 23 24 25 26 27 deposit payroll tax for payments on sep 21­23 if the semiweekly deposit rule applies 28 29 file form 730 and pay tax on wagers accepted during aug file form 2290 and pay the tax for vehicles first used during aug deposit payroll tax for payments on sep 24­27 if the semiweekly deposit rule applies 30 september 2011 august 1 2 7 8 9 14 15 16 21 22 23 28 29 30 3 4 5 6 10 11 12 13 17 18 19 20 24 25 26 27 31 october 2 9 16 23 30 1 3 4 5 6 7 8 10 11 12 13 14 15 17 18 19 20 21 22 24 25 26 27 28 29 31

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keep your pace if circumstances make it unlikely that you could pay the full tax even on an installment plan request a copy of publication 594 the irs collection process this publication lists alternative methods for resolving your account note in general the penalty rate is ½ of 1 percent 5 each month tax is paid late the penalty rate may increase to 1 or the rate may decrease to ¼ of 1 percent 25 while an approved installment agreement is in effect regardless of the penalty rate the total penalty cannot exceed 25 however you must have filed the tax return on time estimated ta x payments self-employed individuals exercise discipline and watch y back our filing and paying taxes due on time one major mistake many new business owners make is not adequately budgeting for taxes due if you can t pay the full amount it s better to at least file your tax forms by their due dates partial payments will help reduce the amount of penalties and interest if you are still unable to pay at the next due date continue to file your returns on time to avoid the failure-to-file penalty attach form 9465 installment agreement request and propose a monthly payment date and amount for most employees employers deduct social security and medicare taxes from each paycheck to support retirement income and medicare coverage however self-employed taxpayers pay for coverage through selfemployment tax generally if you carry on a trade or business as a sole proprietor an independent contractor a member of a partnership that carries on a trade or business or are otherwise in business for yourself then you are considered self-employed the maximum amount of net earnings subject to the social security portion of the selfemployment tax generally changes each year visit www.socialsecurity.gov for the latest information and updates all net earnings of at least the set maximum amount are subject to the medicare portion of the tax many self-employed people will have to make quarterly estimated tax payments it s important to remember that your self-employment tax will increase the total federal tax you owe be sure to take this into account when determining the amount of estimated tax to pay each quarter to pay estimated taxes individuals can use form 1040-es estimated tax for individuals when you file your tax return you must complete schedule se to report your self-employment income and calculate the amount of your selfemployment tax due estimated ta x payments corporations to compute estimated tax use form 1120-w estimated tax for corporations and then use eftps electronic federal tax payment system to deposit payments preventing identity theft be aware of ways in which identity theft can occur with your tax records an identity thief may file a tax return using your ssn to receive a refund then when you file your return becomes a second copy or duplicate if you receive an irs notice that leads you to believe someone may have used your ssn fraudulently please notify the irs contact the irs identity protection specialized unit toll-free 800-908-4490 for guidance be aware that the irs does not request personal taxpayer information through e-mail if you receive such a request identity thieves may be attempting to elicit your private tax information protect your social security number n lighter color sun bikers darker don t carry your social security card leave it in a secure place only give your ssn when absolutely necessary ask why your ssn is needed and whether other types of identifiers can be used be careful when choosing a ta x preparer n n you generally have to make estimated tax payments for your corporation if you expect to owe tax of $500 or more when you file if you do not prepare your own return be careful in choosing your tax preparer because that individual will have access to your personal financial records avoid preparers who claim they can obtain larger refunds than other preparers or who guarantee results or base fees on a percentage of the refund amount sunday monday tuesday wednesday thursday friday saturday racing is experience but once you have the fundamentals acquiring the experience is a matter of time 1 ­ greg lemond 2 3 4 deposit payroll tax for payments on sep 28­30 if the semiweekly deposit rule applies 5 6 deposit payroll tax for payments on oct 1­4 if the semiweekly deposit rule applies 7 8 9 columbus day 10 employers employees are required to report to you tips of $20 or more earned during sep 11 12 deposit payroll tax for payments on oct 5­7 if the semiweekly deposit rule applies 13 deposit payroll tax for payments on oct 8­11 if the semiweekly deposit rule applies 14 file 2010 form 5500 if you timely requested an extension on form 5558 15 16 individuals file 2010 form 1040 1040a or 1040ez if you timely requested a 6-month extension electing large partnerships file 2010 form 1065 if you timely requested a 6-month extension employers deposit payroll tax for sep if the monthly deposit rule applies file 2010 form 5500 if you timely requested an extension on form 5558 17 18 deposit payroll tax for payments on oct 12­14 if the semiweekly deposit rule applies 19 20 deposit payroll tax for payments on oct 15­18 if the semiweekly deposit rule applies 21 22 23 24 25 deposit payroll tax for payments on oct 19­21 if the semiweekly deposit rule applies 26 27 deposit payroll tax for payments on oct 22­25 if the semiweekly deposit rule applies 28 29 30 file form 720 for the third quarter of 2011 file form 730 and pay tax on wagers accepted during sep file form 2290 and pay the tax for vehicles first used during sep file form 941 for the 3rd quarter of 2011 deposit futa owed through sep if more than $500 31 october 2011 september 4 5 6 7 11 12 13 14 18 19 20 21 25 26 27 28 1 2 3 8 9 10 15 16 17 22 23 24 29 30 november 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

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for a successful volley form w-2c corrected wage and tax statement and form w-3c transmittal of corrected wage and tax statements these forms are used to correct the information about your employees total earnings and withholdings for the year you can now access and complete forms w-2c and w-3c online see social security s business tips for success for more information form 1040x amended u.s individual income tax return if you made a mistake on your individual tax return use this form to correct any errors if you owe tax as a result of error you should send the additional tax owed with form 1040x this will stop penalties and interest from accruing on the additional tax owed form 1065 u.s return of partnership income if you made a mistake on a partnership return check the box for amended return on form 1065 and then follow the instructions give each partner a copy of the amended schedule k-1 form 1120s u.s income tax return for an s corporation to correct a previously filed form 1120s return file an amended form 1120s check the box for amended return on page 1 and follow the instructions give each shareholder a copy of the amended schedule k-1 form 1120x amended u.s corporation income tax return if you made a mistake on your corporate tax return use this form if you owe tax you should send it with the form forms 1099 and 1098 these are examples of information returns use the instructions for making corrections that come with the form cp 165 your check for your ftd or estimated taxes was returned this notice asks for the payment plus a bad check penalty of two percent the minimum penalty is $15 cp 2000 issued for verification for unreported income payments or credits cp 2100 to notify you of incorrect information and to remind you of your obligation to solicit the correct information so you can file correctly in the future the notice also reminds you of your responsibility to backup withhold if the information is not provided cp 2501 a discrepancy was found between what you reported as your income credit or deduction and what irs records show whether or not you agree with the notice call or write the person listed on the notice or visit your local irs office before the deadline it is important to let the irs know that you received the notice and that you are doing something about it putting off contacting the irs especially in the case of notices requesting payment can increase the amount you owe because penalties and interest keep accruing correspondence to and from the irs correcting errors in your return if you omit some information from your tax return make an error or miss a tax-filing deadline it doesn t have to be a major problem however you should take prompt action to set things right it can be less expensive and less complicated to correct errors before receiving notices from the irs forms you may use to report corrections include forms 94x employment tax adjustments when employers discover errors made resulting in overpayment or underpayment of employment taxes they can file the corresponding amended employment tax form these amended employment tax forms include forms 941-x 943-x 944-x 945-x and ct-1x a notice from the irs what should you do if you receive a notice of any kind from the irs open it read it and respond promptly most notices include a deadline for your response the irs writes to taxpayers for many reasons for example n your notice may request information that was missing from your tax return if your notice is about an examination or audit you will be asked to produce certain information for the examination at a specified time and place or your notice may ask for payment of a tax bill examples of other notices include n n cp 102 a math error was found on certain forms such as forms 941 942 943 944 or 945 returns that you filed and the irs believes you owe more tax cp 138 the tax you overpaid on one tax return was applied to another return where you owed tax sunday monday tuesday wednesday thursday friday saturday 1 champions keep playing until they get it right deposit payroll tax for payments on oct 26­28 if the semiweekly deposit rule applies 2 3 deposit payroll tax for payments on oct 29­nov 1 if the semiweekly deposit rule applies 4 5 ­ billie jean king 6 7 8 deposit payroll tax for payments on nov 2­4 if the semiweekly deposit rule applies 9 employers employees are required to report to you tips of $20 or more earned during oct file form 941 for the third quarter of 2011 if you timely deposited all required payments 10 veterans day 11 12 13 deposit payroll tax for payments on nov 5­8 if the semiweekly deposit rule applies 14 deposit payroll tax for oct if the monthly rule applies 15 deposit payroll tax for payments on nov 9­11 if the semiweekly deposit rule applies 16 17 deposit payroll tax for payments on nov 12­15 if the semiweekly deposit rule applies 18 19 20 21 22 deposit payroll tax for payments on nov 16­18 if the semiweekly deposit rule applies 23 thanksgiving day 24 25 26 27 deposit payroll tax for payments on nov 19­22 if the semiweekly deposit rule applies 28 29 file form 730 and pay tax on wagers accepted during oct file form 2290 and pay the tax for vehicles first used during oct deposit payroll tax for payments on nov 23­25 if the semiweekly deposit rule applies 30 help us help you and other small businesses please give us your feedback so we can continue to improve this calendar http www.tax.gov/rateourproducts november 2011 october 2 9 16 23 30 3 4 5 6 7 10 11 12 13 14 17 18 19 20 21 24 25 26 27 28 31 1 8 15 22 29 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 december

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stayoncourse maneuvering the twists and turns one-on-one help from the social security administration employers who need help with general wage reporting information can call the social security administration s employer reporting service center at 800-772-6270 for answers to more technical questions employer service liaison officers are available around the country just call 800-772-6270 electronic filing of w-2s employers and their authorized representatives can now file w-2 reports over the internet there are three electronic filing methods available through social security s business services website w-2 online ­ you can complete up to 20 forms w-2 on your computer electronically submit them to ssa and print copies suitable for distribution to your employees this option is ideal for businesses with 20 or fewer employees or for individuals with household employees w-2c online ­ this service is similar to w-2 online except it allows you to complete up to 20 forms w-2cs corrected wage and tax statements this service can be used regardless of which service you used to submit the original w-2 to ssa upload a wage report ­ you can upload a wage report file formatted according to social securities wage reporting forms w-2 specifications to get started simply go to the social security business services online website you will need to register for a personal identification number and password by selecting registration and following the instructions a pin will be provided immediately after you complete the registration process a password will be mailed in approximately two weeks to use the site select login and enter your pin and password third-party preparers need register only one time in their firm s name december is the preferred month to register social security usually begins accepting electronic submissions the second week in january get more information on filing w-2s online in the business services online handbook go to the social security online website employer w-2 filing instructions and information page and click on business services online bso electronic w-2 filing handbook or call 800-772-6270 other services form w-2 filing information verifying employee names and social security numbers the name and ssn listed on each w-2 must match the name and ssn on the employee s social security card this match ensures the earnings of each worker are properly recorded to their lifetime earnings record the earnings record is the basis for determining social security benefit eligibility and benefit amount ssa s free employee verification service easily identifies inaccurate name and ssn combinations so they can be corrected before you submit your w-2s to ssa fewer than 50 names ­ contact your nearest social security office you can locate the address by visiting the social security online website or by calling 800-772-1213 www.ssa.gov/bso/bsowelcome.htm more than 50 names ­ this option is ideal for employers who want to verify their entire payroll database you must register for this service for details visit ssa s website employer w-2 filing business services online information and instructions and information ­ social security number verification page www.ssa.gov/bso/bsowelcome.htm each year employers must send copy a of forms w-2 wage and tax statement with form w-3 transmittal of wage and tax statement to the social security administration by the last day of february or last day of march if they file electronically to report the wages and taxes of their employees for the previous calendar year complete wage reporting information and all publications they need to meet their wage reporting responsibilities are now online on the social security online website employer w-2 filing instructions and information page ssa/irs reporter ­ this a quarterly newsletter for employers prepared by the social security administration and the internal revenue service locate issues of the ssa/irs reporter on www.irs.gov search ssa reporter sunday monday tuesday wednesday thursday friday saturday gold medals aren t really made of gold they re made of sweat determination and a hard-to-find alloy called guts 1 deposit payroll tax for payments on nov 26­29 if the semiweekly deposit rule applies 2 3 ­ dan gable 4 5 6 deposit payroll tax for payments on nov 30­dec 2 if the semiweekly deposit rule applies 7 8 deposit payroll tax for payments on dec 3­6 if the semiweekly deposit rule applies 9 10 11 employers employees are required to report to you tips of $20 or more earned during november 12 13 deposit payroll tax for payments on dec 7­9 if the semiweekly deposit rule applies 14 corporations deposit the fourth installment of your estimated tax for 2011 deposit payroll tax for nov if the monthly deposit rule applies 15 deposit payroll tax for payments on dec 10­13 if the semiweekly deposit rule applies 16 17 18 19 20 deposit payroll tax for payments on dec 14­16 if the semiweekly deposit rule applies 21 22 deposit payroll tax for payments on dec 17­20 if the semiweekly deposit rule applies 23 24 christmas day 25 christmas day federal observance 26 27 28 deposit payroll tax for payments on dec 21­23 if the semiweekly deposit rule applies 29 deposit payroll tax for payments on dec 24­27 if the semiweekly deposit rule applies 30 31 december 2011 november 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 january 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

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nothin net but online resources help your business thrive the small business/self-employed tax center on www.irs.gov has a wealth of information for your small business starting operating or closing a business visit www.irs.gov/smallbiz and find help with n online services for small businesses the irs is making it easier for you to conduct business with us electronically you can obtain an employer identification number online file w-2 s electronically sign up for paying electronically using eftps set up an online payment agreement and more the availability of electronic options is increasing every year helping reduce your burden and improve the timeliness and accuracy of tax returns starting a new business and selecting a business structure operating a business with employees n n researching business deductions and credits recordkeeping and accounting methods electronic subscription services the irs has numerous free electronic subscription services that provide helpful information for your business these include e-news for small business distributed every other wednesday the newsletter provides tax information for small business owners and self-employed individuals it includes n n online learning and educational products learn about business taxes on your own time and at your own pace small business/self-employed virtual small business tax workshop what you need to know about federal taxes and your new business how to set up and run your business so paying taxes isn t a hassle federal unemployment taxes and much more small business video and audio presentations adjusting employment taxes business income employer identification numbers home office deduction recordkeeping and seasonal businesses retirement news for employers a publication of the employee plans office of the tax exempt and government entities operating division this newsletter is issued periodically during the year and provides information for employers about current developments and upcoming events within the retirement plan arena exempt organizations update subscribers receive e-mail updates and alerts from the irs about developments in exempt organizations tax law and regulations upcoming irs training and events and other information small business events irs supports small business tax workshops hosts phone forums and webinars that address a variety of small business topics small business workshops are designed to help small business owners understand and fulfill their federal tax responsibilities workshops are sponsored and presented by irs partners who are knowledgeable in federal taxes topics vary from a general overview of taxes to more n specific topics such as recordkeeping and retirement plans to locate a workshop near you visit www.irs gov and search small business tax workshop n phone forums and webinars bring tax presentations conveniently to the homes and offices of small business owners via phone or internet free of charge some presentations are local others nationwide search phone forum upcoming tax dates for sb/se customers self-employed individuals tax center the self-employed individuals tax center is your one stop resource for tax information on self-employment income topics include who is self-employed self-employment tax essential forms publications and more what s new for small businesses on the irs website reminders and tips to assist small businesses/self-employed with tax compliance irs news releases and special irs announcements tax-related information from other federal agencies n n n small business and self-employed filing season central filing season central is your one stop assistance center for filing your business returns this includes highlights of tax law changes tax tips and more you have to expect things of yourself before you can do them ­ michael jordan teamirs we can help online by phone in print and through cd/dvds the irs.gov website is available 24/7 with products to support our small business and self-employed customers the irs offers a host of resources developed with the small business owner in mind ranging from forms and publications cds and dvds videos and toll-free tax assistance to web links classes and workshops most of these services are free publication 1796 released twice during the year in january and march contains the following n the small business web site starting operating or closing a business visit the small business and self-employed one-stop resource page and find help with n resources to help you via phone and internet or you can order any of them free by calling 800-829-3676 refer to the next two pages for a list of forms and publications that may help you meet your tax obligations current year forms instructions and publications prior-year forms instructions and publications n n starting a new business and selecting a business structure operating a business with employees bonus irs tax products dvd ships with the final release nnnn irs tax map an electronic research tool tax law frequently asked questions n researching business deductions and credits recordkeeping and accounting methods irs forms and publications tax dvd publication 1796 irs tax products dvd contains the current and prior year tax forms and publications.you can purchase the dvd from the national technical information service the official distributor order by calling 877-233-6767 tax topics from the irs telephone response system fill-in print and save features for most tax forms internal revenue bulletins toll-free and e-mail technical support web update page n also available are online versions of the tax calendar for small businesses and self-employed tax topics for businesses and frequently asked questions visit www.irs.gov/smallbiz n n n tax exempt and government entities help line the tax exempt and government entities help line is available to assist taxpayers who need tax information or assistance relating to tax exempt or government entities tax exempt bonds or employer/employee pension plans call toll free at 877-829-5500 forms and publications the irs provides many forms and publications to assist you most can be downloaded from www.irs.gov the business and specialty tax line the business and specialty tax line at 800-829-4933 is specifically geared to assist small businesses small corporations partnerships and trust customers with their business returns and tax accounts the help line covers requests for employee identification numbers and questions about various business forms excise tax returns forms 940 941 943 944 945 1041 1065 1120 1120s w-2 and w-4 plus estate and gift tax returns and federal tax deposits help us to help you to better serve your needs as a businessperson and to provide products and services that fulfill that goal we need your input please send us your feedback on the 2011 tax calendar for small businesses and self-employed by completing a brief survey go to www.irs.gov search small business one-stop and select rate 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