Year-End Fringe Benefit Reporting and Other Reporting Requirements

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Year-End Fringe Benefit Reporting and Other Reporting Requirements"

Transcription

1 and Other Reporting Requirements November 2013

2 TO: RE: All Business Clients Year-End Fringe Benefit Reporting and Other Reporting Requirements DATE: November 20, 2013 Certain fringe benefits paid for or provided by an employer to its employees must be reported to the government as taxable compensation to the employee on year-end wage reports. Common examples of such fringe benefits are the personal use of employer provided vehicles, health insurance paid on behalf of a more than two percent shareholder of an S Corporation, and group term life insurance in excess of $50,000. Also, nonaccountable reimbursements and expense allowances must be included in Form W-2 wages. This memo serves as a reminder of your additional year-end reporting requirements and includes worksheets designed to identify and capture information such as personal use of company automobiles, personal flights on employerprovided aircraft, employer-provided vacations, and certain gifts to report as additional wage compensation. Please forward this memo to the appropriate personnel at your business responsible for ensuring proper reporting of wage and compensation information to the government. You will need to provide the information to your payroll data processing service if you use one. Alternatively, you may provide the information to your contact at CohnReznick LLP and we will assist in ensuring proper and required reporting. Also, you may elect to adopt a November 1 to October 31 fiscal year for fringe benefit reporting purposes. In other words, you may use the November 2012 to October 2013 period to quantify fringe benefits paid for the January 2013 to December 2013 reporting period. Company Owned Vehicles The Internal Revenue Service requires taxpayers to provide certain information relating to the business use of a vehicle. The information must be provided on a vehicle-by-vehicle basis in order to comply with the regulations. Employers providing vehicles to employees must obtain the information from the employees. Employees must be taxed on any personal use of the vehicle. This amount must be included in gross income and must be reported on the employee s W-2 Forms. This amount is subject to the Federal Insurance Contributions Act ( FICA ) and the Federal Unemployment Tax Act ( FUTA ); Federal Income Tax Withholding ( FITW ) is optional. The information that must be reported (also a determining factor as to the inclusion on the W-2 Form of the employee) is very specific. For each automobile owned or leased by your company, please complete the information on the enclosed worksheet (one form per auto). Please forward the completed worksheet(s) to your payroll-processing center or to us by December 13, Also note that the business standard mileage rate is 56.5 cents per mile for January 1 to December 31, The business standard mile rate is an acceptable and simplified method provided by the IRS and is used for determining deductible costs of operating an automobile for business purposes. Special Instructions for Employers Who Prohibit Personal Use of Vehicles by Employees If you prohibit personal use of employer-provided vehicles by your employees, you should maintain a written policy statement setting forth such prohibition. If you do not maintain such a statement, you provide vehicles to your employees for business use only and the vehicles remain on business premises during non-working hours, you may initiate a written policy statement that will satisfy your substantiation requirements. 1

3 Other Employer Paid Fringe Benefits Dependent Care Assistance Non-highly compensated employees may exclude the first $5,000 ($2,500 for married employees filing separately) of dependent care assistance during the year from FITW, FICA and FUTA as part of a qualified cafeteria plan under IRC Sec Highly Compensated Employees ( HCEs ) may also exclude dependent care assistance from their wages if the following two conditions are met: (1) the benefits provided under the program do not favor HCEs; and (2) the program meets the requirements of IRC Sec. 129(d). HCEs are employees that either: (1) were a 5% owner at any time during this year or the preceding year; or (2) received more than $115,000 in pay for the preceding year. Any dependent care assistance provided during the year that exceeds the $5,000 income exclusion cap is subject to FITW, FICA and FUTA and must be reported as taxable wages on the employee s Form W-2 in boxes 1, 3, and 5. The total amount of dependent care assistance received must be reported in box 10 of Form W-2. Long Term Care Insurance Cost of premiums paid by the employer for the employee s qualified Long Term Care ( LTC ) insurance coverage is exempt from FITW, FICA and FUTA and is not reported as taxable wages on the employee s Form W-2. However, after tax dollars deducted from an employee s pay and used to purchase LTC insurance coverage are subject to FITW, FICA and FUTA and must be reported as taxable wages on the employee s Form W-2. Additionally, an employer cannot exclude contributions to the cost of LTC insurance from an employee s wages subject to FITW if the coverage is provided through a flexible spending or similar arrangement. Other Fringe Benefits Additionally, other fringe benefits that you provide for your employee(s) may also be taxable on the employee s Form W-2. If you do provide and pay for other fringe benefits (i.e., dependent care assistance, long term care insurance, medical, life insurance, group term life insurance, disability insurance, unreported COBRA payments made on behalf of former employees, third party sick pay and taxes withheld, unsubstantiated employee expense reimbursements), please complete the attached worksheet (one for each employee) detailing these other benefits. Please forward the completed worksheet(s) to your payroll-processing center or to CohnReznick if we prepare your W-2 s by December 13, Forms W-2/W-3 and Forms 1099/1096 and Back-up Withholding Requirement Form W-2/W-3 Forms W-2 must be furnished to employees no later than January 31, (An employer meets the furnished requirement if the form is properly addressed and mailed on or before this date.) Form W-3 (with Copy A of Forms W-2 attached) must be filed by February 28, If you are required to file 250 or more Forms W-2, you must file them electronically unless the IRS grants you a waiver. You may request a waiver on Form 8508, Request for Waiver From Filing Information Returns Electronically. Submit Form 8508 to the IRS at least 45 days before the due date of Form W-2. The due date for Forms W-2 filed electronically with the government is March 31, You may be charged a penalty if you fail to file electronically when required. You are encouraged to file electronically even if you are filing fewer than 250 Forms W-2. All employers who are not on a computerized payroll service are cautioned on the above since noncompliance penalties are severe. As in previous years, all employers must report all sick pay that is paid to employees by third parties. Any employee who receives sick pay from a company paid insurance policy (including the New Jersey Disability Fund) must pay FICA taxes (Social Security and Medicare taxes) on the benefits. The employer must include these FICA taxes in the payroll tax 2

4 deposits. The insurance company should notify you as to the taxable amount. State Workers Compensation benefits are not subject to these provisions. Please be aware of potential other items which may have to be included on Form W-2, such as taxable fringe benefits (i.e., employer provided automobiles, employer contribution to long-term care, dependent care assistance). Please refer to the first two pages of this memo regarding company owned vehicles and other employer paid fringe benefits. Beginning in 2012, the aggregate cost of employer-sponsored coverage had to be reported on Form W-2. However, under a transition rule employers filing fewer than 250 Forms W-2 for the previous calendar year (for example, employers filing fewer than Forms W-2) were not required to report the cost of coverage on the 2012 Forms W-2. In addition, if an employee s employment was terminated during the year and the employee requested a Form W-2 before the end of 2012, the aggregate cost of employer-sponsored coverage did not have to be reported on that Form W-2. These transition rules will continue to apply for Starting in 2013, employers must withhold an additional 0.9% Medicare tax on each employee s wages that exceed $200,000 during the year. This additional Medicare withholding tax is reported on a separate line (line 5d) on Form 941, but is combined with the regular Medicare tax withholding and reported in box 6 on Form W-2. Do not include the 0.9% additional Medicare tax in amounts reported in box 12 of Form W-2 using Codes B and N. Form 1099/1096 All taxpayers are generally required to file Form 1099 with the federal government and furnish a copy to the corresponding state taxing authority if they pay $10 or more of interest or dividends or pay an unincorporated business (i.e. any individual as well as any partnership including LLCs and LLPs) $600 or more for rents or services rendered. Gross royalty payments must be reported if they total $10 or more. Payments for legal services (including payments to corporate entities) must be reported on Form 1099-MISC if $600 or more. Report the attorney s fee in box 7 and gross proceeds regarding settlements in box 14. The form must be filed with the government authorities by February 28, If you file electronically (required if you file 250 or more Forms 1099), the due date is March 31, Copy A of all 1099 Forms must be submitted to the IRS with Form 1096, Annual Summary and Transmittal of US Information Returns. A separate Form 1096 must be used for each different type of 1099 form filed. The recipients must be furnished with their copies by January 31, To prepare a Form 1099, you will need the following information: 1. Name and address of payee. 2. Payee s identification number. 3. Amount paid in Type of payments made (outside services, rents, commissions, etc.) If you desire our assistance to prepare Forms 1099 and 1096, please mail, fed-x or a PDF with the information listed above to our office by January 17, Forms for Pension or Profit Sharing Plan Distributions (including Keogh Plans) Whenever a distribution from a Retirement Plan is made, an applicable Form 1099-R must be given to the recipient and filed with the IRS. If your third party administrator is not preparing all necessary 1099 Forms and you would like us to prepare them, please provide us with the information listed below by January 17, 2014, and we will prepare the form(s) for filing by the plan trustee. 3

5 To prepare a Form 1099-R for a retirement plan distribution, you will need the following information: 1. Name and address of payee. 2. Payee s identification number. 3. Amount paid in Type of payments made (early distribution, rollover distribution, normal distribution, etc.). 5. Withholding on distribution Federal and/or state (need dates deposited with government unit). Forms 1099-R are to be furnished to all payees by January 31, Form 945 for withholding payments needs to be filed by January 31, However, if you made deposits on time in full payment of the taxes for the year, you may file Form 945 by February 10, Backup Withholding Failure to comply will subject the payer to penalties Backup withholding is required for payments to unincorporated entities and proprietors unless you obtain the Social Security number or Federal ID number of the payee. This rule applies only to trade or business entity payers (including selfemployed individuals). The backup withholding is a flat 28 percent rate for Form W-9 is used to obtain a taxpayer s (payee s) identification number. If you need this form, you can obtain it from the IRS website ( or from your CohnReznick professional at Deferred Compensation Plans and IRC 409A Reporting Requirements Employers may establish deferred compensation plans under which an employee may exclude compensation earned or partially earned during the year but not received during the year. The rules for reporting deferred compensation can be complicated and are beyond the scope of this memo. Please contact your CohnReznick professional at if you have a deferred compensation plan and have any questions on how to report deferred compensation to your employees. The information included herein is not intended or written to be used, and it cannot be used by any taxpayer for the purpose of i) avoiding penalties the IRS and others may impose on the taxpayer or ii) promoting, marketing or recommending to another party any tax related matters. (The foregoing disclosure has been affixed pursuant to U.S. Treasury Regulations governing tax practice.) This has been prepared for information purposes and general guidance only and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its members, employees, and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. 4

6 Employee Use of Employer-Provided Vehicle (One form per auto) Company: Please be advised that during 2013, the Company furnished the vehicle described below for my use on Company business. I am providing the information shown below on my business and personal use of the Company-provided vehicle: Year Make Model Driver Ending odometer ( ) Date Beginning odometer ( ) Date Total mileage (Ending odometer reading minus beginning odometer reading) Business mileage Nonbusiness mileage Other personal mileage The above figures are based on my written records of business use. I understand that I may be required to furnish such documentation in the event of an IRS examination. Signature _ Date For Employer Use Only: Check the following ( ) Vehicle was purchased this year ( ) Vehicle was leased this year Date Purchased _ First business date of use Purchase Price $ (Provide copy of invoice) Date of Lease _ First business date of use Value of auto $_ (Provide copy of lease) ( ) Vehicle was sold this year Make & Model Date sold Sales Price $ 5

7 Other Benefits Provided By the Company (One form per employee) Year Company Information Name of Company: MEDICAL EXPENSES AND INSURANCE PREMIUMS (Paid on behalf of a more than 2% shareholder in an S Corporation or any partner in a Partnership only. This is not applicable to C Corporations.) Shareholder or Partner Name Medical Expenses Paid or Reimbursed Medical Insurance Premiums GROUP TERM LIFE INSURANCE IN EXCESS OF $50,000, DISABILITY INSURANCE, DEPENDENT CARE AND LONG TERM CARE LIFE INSURANCE DEPENDENT CARE Name of Employee Name of Employee Age Amount Paid Face Amount Total wages for year Owner Beneficiary Insured Annual Premium Paid DISABILITY INSURANCE LONG TERM CARE Name of Employee Name of Employee Annual Premium Paid Annual Premium Paid Owner Age of Employee at 12/31 Beneficiary Insured Additional Information or Comments such as personal use of company automobiles, personal flights on employer-provided aircraft, employer-provided vacations, and certain gifts ****************************************************************** For Internal Use Only ******************************************************************** Entity Type General Ledger Accounts Insurance Posted to: New Jersey C Corporation (Y or N) Life New Jersey S Corporation (Y or N) Medical 6

8 Other States C or S Status Disability Other Group Term Life Insurance EMPLOYEE AGE AMOUNT OF COVERAGE 7

9 Non Accountable Reimbursement Plan EMPLOYEE AMOUNT OF ALLOWANCE 8

10 2014 and 2013 Payroll Limits CA SUI/SDI -MAXIMUM EARNINGS DISABILITY $101,636 $100,880 -EMPLOYEE PERCENTAGE DISABILITY 1.0% 1.0% -MAXIMUM DEDUCTION $1, $1, CT SUI/SDI: -MAXIMUM EARNINGS UNEMPLOYMENT $15,000 $15,000 -EMPLOYEE PERCENTAGE UNEMPLOYMENT 0.000% 0.000% MA SUI/SDI: -MAXIMUM EARNINGS UNEMPLOYMENT $14,000 $14,000 -EMPLOYEE PERCENTAGE UNEMPLOYMENT 0.000% 0.000% NJ SUI/SDI: -MAXIMUM EARNINGS $31,500 $30,900 -EMPLOYEE PERCENTAGE (Includes FLI) 0.905% 0.885% -MAXIMUM DEDUCTION $ $ NY SUI/SDI: -SUI MAXIMUM EARNINGS $10,300 $8,500 -SDI EMPLOYEE PERCENTAGE 0.50% 0.50% (MAXIMUM $.60 PER WEEK) FICA/SOCIAL SECURITY: -MAXIMUM EARNINGS $117,000 $113,700 -EMPLOYER PERCENTAGE 6.20%* 6.20% -EMPLOYEE PERCENTAGE 6.20%* 6.20% -MAXIMUM DEDUCTION $7, $7, SELF EMPLOYMENT TAX RATE 12.40%* 12.40% -ADDITIONAL MEDICARE TAX 0.9%**** 0.9%***** FICA/MEDICARE: -MAXIMUM EARNINGS NO LIMIT NO LIMIT -EMPLOYEE/EMPLOYER PERCENTAGE 1.45% 1.45% -MAXIMUM DEDUCTION NO LIMIT NO LIMIT -SELF EMPLOYMENT TAX RATE 2.90% 2.90% FUTA: -6.0% LESS MAX CREDIT OF 5.4% =.6%** -MAXIMUM EARNINGS $7,000 $7, (k) LIMIT $17,500 $17,500 $23,000*** $23,000*** Maximum Compensation Considered for Defined Contribution $260,000 $255,000 Maximum Defined Contribution under these plans $ 52,000 $ 51,000 EARNINGS CEILING FOR SOCIAL SECURITY BENEFITS REDUCTION -Full retirement age is determined by the year of birth (see -Earnings limits for taxpayers under full retirement age $15,480 $15,120 -Earnings limits in the year reaching full retirement age $41,400 $40,080 -Earnings limits at full retirement age or older NO LIMIT NO LIMIT * Current rates absent any Governmental action ** For 2012, the credit was further reduced by another.3% to.6% for California, Connecticut, New Jersey, and New York. For 2013, the credit is reduced by another.3% to.9% for California, Connecticut, New Jersey, and New York. *** Individuals age 50 or older are entitled to an additional $5,500 of catch-up contributions in 2013 and in

11 **** Effective in 2013, an additional 0.9% Medicare tax is imposed on employees and self-employed individuals. The additional 0.9% Medicare tax is imposed on wages and self-employment income in excess of $200,000 ($250,000 on a joint return and $125,000 for married taxpayers filing separately)

If so, the Internal Revenue Code requires that you include the value of these benefits in the employees Forms W-2.

If so, the Internal Revenue Code requires that you include the value of these benefits in the employees Forms W-2. November 3, 2014 RE: Taxable Fringe Benefits and Year-end Tax Planning Dear Client: Does your Company: 1. Provide vehicles to employees who use them for personal purposes as well as for business travel?

More information

Agenda. IRS Payroll Tax Audit Initiatives. Auditor of State David Yost 2011 Local Government Official s Conference Employment Tax Update

Agenda. IRS Payroll Tax Audit Initiatives. Auditor of State David Yost 2011 Local Government Official s Conference Employment Tax Update Auditor of State David Yost 2011 Local Government Official s Conference Employment Tax Update April 7, 2011 Janice M. Zajac, CPA, MBA, MB Agenda IRS Payroll Tax Audit Initiatives Independent Contractors

More information

FGMK Payroll Services, LLC. One Source Infinite Solutions Year End Guide

FGMK Payroll Services, LLC. One Source Infinite Solutions Year End Guide FGMK Payroll Services, LLC One Source Infinite Solutions Year End Guide Additional Resources IRS Forms and Publications 1-800-TAX-FORM (800) 829-3676 http://www.irs.gov/formspubs/index.html IRS Contact

More information

2012 PAYROLL RATES AND LIMITS. Employee Withholding Rate Wage Base Dollar Amount

2012 PAYROLL RATES AND LIMITS. Employee Withholding Rate Wage Base Dollar Amount 2012 PAYROLL RATES AND LIMITS Gross Maximum Employee Withholding Rate Wage Base Dollar Amount FICA/Social Security 4.20% * $110,100 $4,624.20 FICA/Medicare Portion 1.45% No Limit No Limit Total FICA 7.65%

More information

JANUARY 2015 UPDATE ON PAYROLL, EMPLOYMENT TAXES AND INFORMATION RETURNS

JANUARY 2015 UPDATE ON PAYROLL, EMPLOYMENT TAXES AND INFORMATION RETURNS JANUARY 2015 UPDATE ON PAYROLL, EMPLOYMENT TAXES AND INFORMATION RETURNS This letter sets forth employee payroll tax withholding rates, employer payroll tax rates in effect for 2015 and some pertinent

More information

GALLAGHER, FLYNN & COMPANY, LLP Tax Alert Issue #39 ~ December 3, 2014. Fringe Benefit Reporting

GALLAGHER, FLYNN & COMPANY, LLP Tax Alert Issue #39 ~ December 3, 2014. Fringe Benefit Reporting GALLAGHER, FLYNN & COMPANY, LLP Tax Alert Issue #39 ~ December 3, 2014 Fringe Benefit Reporting As the year draws to a close, we want to remind you about including taxable fringe benefits in all applicable

More information

2015 YEAR-END REFERENCE GUIDE AND CHECK LIST IMPORTANT TAX INFORMATION

2015 YEAR-END REFERENCE GUIDE AND CHECK LIST IMPORTANT TAX INFORMATION 2015 YEAR-END REFERENCE GUIDE AND CHECK LIST IMPORTANT TAX INFORMATION This document contains important information that is needed to ensure the accuracy of your W-2 s and other year-end tax returns. Please

More information

G U I D E F O R C O N T R O L L E R S 2014/2015

G U I D E F O R C O N T R O L L E R S 2014/2015 G U I D E F O R C O N T R O L L E R S 2014/2015 WeiserMazars LLP is an independent member firm of Mazars Group. Controllers are presented with many tasks at the end of the calendar year. This guide provides

More information

RE: - 2015 W-2 REPORTING REQUIREMENTS FOR FRINGE BENEFITS TO BE ADDED TO EMPLOYEES' W-2 AS COMPENSATION

RE: - 2015 W-2 REPORTING REQUIREMENTS FOR FRINGE BENEFITS TO BE ADDED TO EMPLOYEES' W-2 AS COMPENSATION December 2015 To Our Clients: RE: - 2015 W-2 REPORTING REQUIREMENTS FOR FRINGE BENEFITS TO BE ADDED TO EMPLOYEES' W-2 AS COMPENSATION - SPECIAL RULES FOR S-CORPORATION SHAREHOLDERS In this letter, we will

More information

Business Resource Group

Business Resource Group YEAR-END FRINGE BENEFIT & PAYROLL REPORTING December 2014 Business Resource Group David Piscorik Tammy Carter Janet McCaskill Julie Miller Trish Meade Elana Jones dpiscorik@stancilcpa.com tcarter@stancilcpa.com

More information

Health Savings Accounts

Health Savings Accounts Health Savings Accounts I. What Are HSAs and Who Can Have Them? What is an HSA? An HSA is a tax-exempt trust or custodial account established exclusively for the purpose of paying qualified medical expenses

More information

YEAR END PAYROLL NEWSLETTER

YEAR END PAYROLL NEWSLETTER December 2015 YEAR END PAYROLL NEWSLETTER Year-end is once again rapidly approaching and the time to properly account for all taxable and non-taxable income which may affect your payroll is here. Fortunately

More information

HEALTH INSURANCE PREMIUMS PAID BY AN S COPORATION ON BEHALF OF THE 2% SHAREHOLDER

HEALTH INSURANCE PREMIUMS PAID BY AN S COPORATION ON BEHALF OF THE 2% SHAREHOLDER W-2 reporting and tax treatment of health insurance premiums paid by an S Corporation on behalf of the 2% shareholder-employee (and his or her spouse or dependents under age 27) and employer provided automobiles-tax

More information

FICA WITHHOLDING & TAXATION OF DISABILITY BENEFITS. Information for Policyholders

FICA WITHHOLDING & TAXATION OF DISABILITY BENEFITS. Information for Policyholders FICA WITHHOLDING & TAXATION OF DISABILITY BENEFITS Information for Policyholders Step One As claim payments are made: Calculates and withholds the EMPLOYEE S portion of FICA liability based on information

More information

New Tax Rates and Wage Base Limitations Announced for 2015

New Tax Rates and Wage Base Limitations Announced for 2015 January 2015 New Tax Rates and Wage Base Limitations Announced for 2015 Type of Tax Tax Rate Wage Base Limit Maximum Tax Employee: Social Security 6.2% $118,500 $7,347 Medicare 1.45% No Limit No Limit

More information

by: Jana B. Bacon, CPA

by: Jana B. Bacon, CPA Community Bank Auditors Group IRS Requirements Impacting Employee and Customer Tax Filings June 4, 2014 by: Jana B. Bacon, CPA MEMBER OF PKF NORTH AMERICA, AN ASSOCIATION OF LEGALLY INDEPENDENT FIRMS 2013

More information

Health Savings Accounts

Health Savings Accounts HSAs Health Savings Accounts 2014 and 2015 Limits Questions & Answers What is a Health Savings Account (HSA)? An HSA is a tax-exempt trust or custodial account established for the purpose of paying medical

More information

YEAR-END UPDATE FOR PAYROLL AND RELATED TAXES WITH ADDITIONAL INFORMATION FOR INDIVIDUALS JANUARY 2015

YEAR-END UPDATE FOR PAYROLL AND RELATED TAXES WITH ADDITIONAL INFORMATION FOR INDIVIDUALS JANUARY 2015 YEAR-END UPDATE FOR PAYROLL AND RELATED TAXES WITH ADDITIONAL INFORMATION FOR INDIVIDUALS JANUARY 2015 This memo provides information that is useful in the annual preparation of employment related forms

More information

TRADITIONAL IRA DISCLOSURE STATEMENT

TRADITIONAL IRA DISCLOSURE STATEMENT TRADITIONAL IRA DISCLOSURE STATEMENT TABLE OF CONTENTS REVOCATION OF ACCOUNT... 1 STATUTORY REQUIREMENTS... 1 (1) Qualification Requirements... 1 (2) Required Distribution Rules... 1 (3) Approved Form....

More information

The 2012-2013 Payroll Benefits Tax Guide is a publication by the Entrepreneurial Services Group of RubinBrown. For more information please contact:

The 2012-2013 Payroll Benefits Tax Guide is a publication by the Entrepreneurial Services Group of RubinBrown. For more information please contact: Dear RubinBrown Client: With the arrival of the New Year, there are changes in payroll and benefit tax requirements. Included in the 2012-2013 Payroll & Benefits Tax Guide is information regarding 2012

More information

PARTNERSHIP/LLC TAX ORGANIZER (FORM 1065)

PARTNERSHIP/LLC TAX ORGANIZER (FORM 1065) Enclosed is an organizer that provide to our tax clients to assist in gathering the information necessary to prepare the current year tax returns. The Internal Revenue Service matches information returns

More information

January 2, 2015. Re: 2015 Accountants Memorandum. Happy New Year from Miller Kaplan Arase LLP!

January 2, 2015. Re: 2015 Accountants Memorandum. Happy New Year from Miller Kaplan Arase LLP! January 2, 2015 Re: 2015 Accountants Memorandum Happy New Year from Miller Kaplan Arase LLP! This is our annual information brief that is primarily intended to address payroll tax matters and information

More information

W-2 Reporting Requirements for Business Owners

W-2 Reporting Requirements for Business Owners W-2 Reporting Requirements for Business Owners There may be other benefits not listed and specific to your company that should be included in the employees W-2. There may also be exceptions available that

More information

2013 Year End Payroll Processing

2013 Year End Payroll Processing 2013 Year End Payroll Processing With the end of another calendar year upon us, we would like to take this opportunity to THANK YOU for your continued business. The fourth quarter of the year is a busy

More information

Tax Related Identity Theft on the Rise

Tax Related Identity Theft on the Rise TAX RELATED IDENTITY THEFT ON THE RISE...1 ISSUE 2014-1 WINTER 2014 SIMPLIFIED HOME OFFICE DEDUCTION.... 1 PENALTY FOR PAYING OR REIMBURSING EMPLOYEE INDIVIDUAL HEALTH PLAN PREMIUMS... 2 DEFENSE OF MARRIAGE

More information

FRINGE BENEFIT ITEMS TO INCLUDE ON 2014 FORMS W-2

FRINGE BENEFIT ITEMS TO INCLUDE ON 2014 FORMS W-2 NOVEMBER 2014 www.bdo.com SUBJECT FRINGE BENEFIT ITEMS TO INCLUDE ON 2014 FORMS W-2 As 2014 draws to a close, we would like to remind you about the proper inclusion of fringe benefits in an employee s

More information

An Overview of Tax Filing Requirements for Real Estate Broker/Agents

An Overview of Tax Filing Requirements for Real Estate Broker/Agents An Overview of Tax Filing Requirements for Real Estate Broker/Agents A two-partner, 25 person firm with 80 years history servicing clients in the areas of: real estate, auditing, accounting, tax, valuation

More information

2015 Year End Newsletter

2015 Year End Newsletter 2015 Year End Newsletter Dear Client: Please read this year-end newsletter carefully and keep it available for reference. It contains important information to help you prepare and plan for the busy months

More information

Discussion. Incorporated Worksite Employer

Discussion. Incorporated Worksite Employer Tax Memo Our PEO Company ( BCC ) has developed a professional employer organization ( PEO ) program to provide lower cost health insurance, and other benefits, to small businesses and self-employed individuals.

More information

Savings Incentive Match Plan For Employees (Simple) IRA Plan Employer Adoption Agreement

Savings Incentive Match Plan For Employees (Simple) IRA Plan Employer Adoption Agreement simple ira plan december 2011 Savings Incentive Match Plan For Employees (Simple) IRA Plan Employer Adoption Agreement For Use with the Simple IRA Application About the Savings Incentive Match Plan for

More information

YEAR-END UPDATE FOR PAYROLL AND RELATED TAXES WITH ADDITIONAL INFORMATION FOR INDIVIDUALS

YEAR-END UPDATE FOR PAYROLL AND RELATED TAXES WITH ADDITIONAL INFORMATION FOR INDIVIDUALS YEAR-END UPDATE FOR PAYROLL AND RELATED TAXES WITH ADDITIONAL INFORMATION FOR INDIVIDUALS JANUARY 2014 This memo provides information that is useful in the annual preparation of employment related forms

More information

Guide to Nondiscrimination Testing for Code Section 403(b) Plans. For Employers

Guide to Nondiscrimination Testing for Code Section 403(b) Plans. For Employers Guide to Nondiscrimination Testing for Code Section 403(b) Plans For Employers Table of contents PREFACE... III Question and Answers about Nondiscrimination Testing for Section 403(b) Tax-Sheltered Annuity

More information

RUN Powered by ADP Year-End Guide

RUN Powered by ADP Year-End Guide RUN Powered by ADP Year-End Guide TDYEG V0115A HR.Payroll.Benefits ADP's Trademarks The ADP Logo, ADP, and RUN Powered by ADP are registered trademarks of ADP, LLC. Third-Party Trademarks Adobe and Acrobat

More information

PARTNERSHIP/LLC TAX ORGANIZER FORM 1065 (LONG VERSION)

PARTNERSHIP/LLC TAX ORGANIZER FORM 1065 (LONG VERSION) PARTNERSHIP/LLC TAX ORGANIZER FORM 1065 (LONG VERSION) Enclosed is an organizer that I (we) provide to our tax clients to assist in gathering the information necessary to prepare the current year tax returns.

More information

VEHICLE RELATED GUIDES EMPLOYER POLICIES REGARDING USE OF COMPANY VEHICLES

VEHICLE RELATED GUIDES EMPLOYER POLICIES REGARDING USE OF COMPANY VEHICLES VEHICLE RELATED GUIDES EMPLOYER POLICIES REGARDING USE OF COMPANY VEHICLES Three policies have been included that may be provided to clients as examples. Policies 1 and 2 are optional for an employer.

More information

Information Reporting Forms 1099. Sponsored by Office of Financial Management and Internal Revenue Service December 12, 2012

Information Reporting Forms 1099. Sponsored by Office of Financial Management and Internal Revenue Service December 12, 2012 Information Reporting Forms 1099 Sponsored by Office of Financial Management and Internal Revenue Service December 12, 2012 Information Reporting Form Code Section 1098 6050H 1098-E 6050S 1098-T 6050S

More information

Health savings accounts (HSAs) are individual accounts. HSA Programs for Groups: Employer Versus Employee Responsibilities.

Health savings accounts (HSAs) are individual accounts. HSA Programs for Groups: Employer Versus Employee Responsibilities. Health Care HSA Programs for Groups: Employer Versus Employee Responsibilities Employers implementing a health savings account (HSA) program face a shared compliance burden with their employees. The law

More information

New Alternatives Fund, Inc. INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA

New Alternatives Fund, Inc. INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA New Alternatives Fund, Inc. INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA TABLE OF CONTENTS COMBINED DISCLOSURE STATEMENT 3 TRADITIONAL INDIVIDUAL RETIREMENT ACCOUNT DISCLOSURE 4

More information

our business is growing yours Deadline for 2009 Adjustments As The Close Of Another Year Approaches

our business is growing yours Deadline for 2009 Adjustments As The Close Of Another Year Approaches December 2009 Vol 1, No. 4 CBIZ Payroll Quarterly 2009 YEAR END EDITION Don t let year end catch you by surprise Deadline for 2009 Adjustments It is very important to transmit all year end adjustments

More information

If you are 55 years or older and are retiring or separating from the County of San Diego, your

If you are 55 years or older and are retiring or separating from the County of San Diego, your UTerminal Pay Plan Frequently Asked Questions If you are 55 years or older and are retiring or separating from the County of San Diego, your accrued sick and vacation leave will be paid out through the

More information

... HSA ... Health Savings Account. Custodial Booklet. (includes self-direction)

... HSA ... Health Savings Account. Custodial Booklet. (includes self-direction) HSA Health Savings Account Custodial Booklet (includes selfdirection) HEALTH SAVINGS CUSTODIAL ACCOUNT (Under section 223(a) of the Internal Revenue Code) Form 5305C (December 2011) Department of the Treasury

More information

PARTNERSHIP/LLC TAX ORGANIZER FORM 1065

PARTNERSHIP/LLC TAX ORGANIZER FORM 1065 PARTNERSHIP/LLC TAX ORGANIZER FORM 1065 Enclosed is an organizer that I (we) provide to our tax clients to assist in gathering the informatio n necessary to prepare the current year tax returns. The Internal

More information

DISCLOSURE STATEMENT

DISCLOSURE STATEMENT DISCLOSURE STATEMENT for Individual Retirement Annuities Home Office: Wilmington, Delaware Administrative Office: P.O. Box 19032 Greenville, SC 29602-9032 Telephone 866-262-1161 The following information

More information

DEERFIELD COMMUNITY CODE: 671.3 SCHOOL DISTRICT DATE OF ADOPTION: 06-16-97

DEERFIELD COMMUNITY CODE: 671.3 SCHOOL DISTRICT DATE OF ADOPTION: 06-16-97 DEERFIELD COMMUNITY CODE: 671.3 SCHOOL DISTRICT DATE OF ADOPTION: 06-16-97 TAX SHELTERED ANNUITY PROGRAM Attached is the district s policy and supporting materials regarding Tax Sheltered Annuities. ADMINISTRATIVE

More information

Salary Reduction Simplified Employee Pension (SAR-SEP) Plan Employer Adoption Agreement For Use with the Traditional IRA Application

Salary Reduction Simplified Employee Pension (SAR-SEP) Plan Employer Adoption Agreement For Use with the Traditional IRA Application december 2011 Salary Reduction Simplified Employee Pension (SAR-SEP) Plan Employer Adoption Agreement For Use with the Traditional IRA Application Employer s Guide to the SAR-SEP Plan Salary Reduction

More information

Employers Guide. Summary of Payroll Tax Guidelines

Employers Guide. Summary of Payroll Tax Guidelines Employers Guide Summary of Payroll Tax Guidelines Table of Contents Page Income Tax 1-2 Federal Withholding Fica Tax State Income Tax Local Tax Unemployment Taxes 3 Federal Tax Deposit Coupons 4 Pennsylvania

More information

New Tax Rates and Wage Base Limitations Announced for 2014

New Tax Rates and Wage Base Limitations Announced for 2014 January 2014 New Tax Rates and Wage Base Limitations Announced for 2014 Type of Tax Tax Rate Wage Base Limit Maximum Tax Employee: Social Security 6.2% $117,000 $7,254.00 Medicare 1.45% No Limit No Limit

More information

Important Information Morgan Stanley SIMPLE IRA Summary

Important Information Morgan Stanley SIMPLE IRA Summary SIMPLE IRA Summary September 2013 Important Information Morgan Stanley SIMPLE IRA Summary The following is intended to provide you with basic information on the roles and services that Morgan Stanley Smith

More information

2016 Payroll Withholding and Payroll Tax Changes

2016 Payroll Withholding and Payroll Tax Changes Below is our annual summary of specific provisions relating to payroll and information reporting. The provisions will be effective January 1, 2016. Please review this bulletin carefully and share it with

More information

NORTHEAST INVESTORS TRUST. 125 High Street Boston, MA 02110 Telephone: 800-225-6704

NORTHEAST INVESTORS TRUST. 125 High Street Boston, MA 02110 Telephone: 800-225-6704 NORTHEAST INVESTORS TRUST traditional IRA INVESTOR S KIT 125 High Street Boston, MA 02110 Telephone: 800-225-6704 Table of Contents NORTHEAST INVESTORS TRUST TRADITIONAL IRA DISCLOSURE STATEMENT...1 INTRODUCTION...1

More information

Bunting, Tripp IngleyLLP

Bunting, Tripp IngleyLLP Dear Clients and Friends, As the end of 2011 approaches, now is a good time to start year-end tax planning to minimize your individual and business tax burden. Generally, year-end tax planning involves

More information

PROTOTYPE SIMPLIFIED EMPLOYEE PROTOTYPE PLAN

PROTOTYPE SIMPLIFIED EMPLOYEE PROTOTYPE PLAN PROTOTYPE SIMPLIFIED EMPLOYEE PROTOTYPE PLAN PROTOTYPE SIMPLIFIED EMPLOYEE PENSION PLAN AGREEMENT ARTICLE I Adoption and Purpose of Plan 1.01 Adoption of Plan: By completing and signing the Adoption Agreement,

More information

S Corporation Tax Organizer

S Corporation Tax Organizer S Corporation Tax Organizer CLIENT INFORMATION S Corporation Name: Email: Date of Incorporation: EIN#: Best Phone#: Corporate Address: Tax Period City: State: ZIP Code: What date was the corporation first

More information

2013 TAX QUESTIONAIRE & CHECKLIST PLEASE VISIT: WWW.JEFFLAINECPA.NET FOR MORE INFORMATION

2013 TAX QUESTIONAIRE & CHECKLIST PLEASE VISIT: WWW.JEFFLAINECPA.NET FOR MORE INFORMATION Dear Valued Client, 2013 TAX QUESTIONAIRE & CHECKLIST PLEASE VISIT: WWW.JEFFLAINECPA.NET FOR MORE INFORMATION Welcome and Happy New Year! As indicated last year, once again audits are up, greater emphasis

More information

Payroll Tax Update 2015 Edition

Payroll Tax Update 2015 Edition Payroll Tax Update 2015 Edition NOT FOR PENALTY PROTECTION As required by United States Treasury Regulations, you should be aware that this communication is not intended to be used and it cannot be used,

More information

Payroll 101: An Introduction to Payroll and Taxes for Household Employers Redlig Financial Services LLC

Payroll 101: An Introduction to Payroll and Taxes for Household Employers Redlig Financial Services LLC In order to understand the role we play in handling and managing the payroll process for you, it is helpful to understand what s involved with payroll to begin with, from withholdings to remittances. As

More information

Columbia Management SIMPLE IRA

Columbia Management SIMPLE IRA Columbia Management SIMPLE IRA An Employer s Guide to Plan Set-Up Establishing a Plan is Easy 1. Read through this booklet before signing any forms. You may want to consult your tax and/or legal advisor

More information

Payroll Tax Update 2016 Edition

Payroll Tax Update 2016 Edition Payroll Tax Update 2016 Edition NOT FOR PENALTY PROTECTION As required by United States Treasury Regulations, you should be aware that this communication is not intended to be used and it cannot be used,

More information

State Street Bank and Trust Company Universal Individual Retirement Account Information Kit

State Street Bank and Trust Company Universal Individual Retirement Account Information Kit State Street Bank and Trust Company Universal Individual Retirement Account Information Kit The Federated Funds State Street Bank and Trust Company Universal Individual Retirement Custodial Account Instructions

More information

SIMPLE IRA Plan. Davis & Graves CPA LLP Jerry Davis, CPA/PFS 700 N Main Gresham, OR 97009 503-665-0173 jerryd@davisgraves.com www.jjdcpa.

SIMPLE IRA Plan. Davis & Graves CPA LLP Jerry Davis, CPA/PFS 700 N Main Gresham, OR 97009 503-665-0173 jerryd@davisgraves.com www.jjdcpa. Davis & Graves CPA LLP Jerry Davis, CPA/PFS 700 N Main Gresham, OR 97009 503-665-0173 jerryd@davisgraves.com www.jjdcpa.com SIMPLE IRA Plan Page 1 of 11, see disclaimer on final page SIMPLE IRA Plan What

More information

BMO Funds State Street Bank and Trust Company Universal Individual Retirement Account Disclosure Statement. Part One: Description of Traditional IRAs

BMO Funds State Street Bank and Trust Company Universal Individual Retirement Account Disclosure Statement. Part One: Description of Traditional IRAs BMO Funds State Street Bank and Trust Company Universal Individual Retirement Account Disclosure Statement Part One: Description of Traditional IRAs Part One of the Disclosure Statement describes the rules

More information

Tax Return Questionnaire - 2015 Tax Year

Tax Return Questionnaire - 2015 Tax Year SPECTRUM Spectrum Financial Resources LLP FINANCIAL 15021 Ventura Boulevard #341 310.963.4322 T RESOURCES Sherman Oaks, CA 91403 303.942.4322 F www.spectrum-cpa.com Tax Return Questionnaire - 2015 Tax

More information

Savings Incentive Match Plan for Employees (SIMPLE) For Use with a Non-DFI IRS Model Form 5304-SIMPLE

Savings Incentive Match Plan for Employees (SIMPLE) For Use with a Non-DFI IRS Model Form 5304-SIMPLE Savings Incentive Match Plan for Employees (SIMPLE) For Use with a Non-DFI IRS Model Form 5304-SIMPLE Form 5304-SIMPLE (Rev. August 2005) Department of the Treasury Internal Revenue Service Savings Incentive

More information

SIMPLIFIED EMPLOYEE PLAN

SIMPLIFIED EMPLOYEE PLAN SIMPLIFIED EMPLOYEE PLAN SIMPLIFIED EMPLOYEE PENSION PLAN AGREEMENT ARTICLE I Adoption and Purpose of Plan 1.01 Adoption of Plan: By completing and signing the Adoption Agreement, the Employer adopts the

More information

PAYCHEX. Mastering Payroll Compliance. 10 Missteps to Avoid

PAYCHEX. Mastering Payroll Compliance. 10 Missteps to Avoid PAYCHEX Mastering Payroll Compliance 10 Missteps to Avoid Executive Summary. Businesses pay government agencies millions of dollars each year in labor and tax compliance penalties. And, in this economy

More information

This notice provides that Internal Revenue Service (IRS) Form 8922, Third-Party

This notice provides that Internal Revenue Service (IRS) Form 8922, Third-Party Reporting Sick Pay Paid by Third Parties Notice 2015-6 PURPOSE This notice provides that Internal Revenue Service (IRS) Form 8922, Third-Party Sick Pay Recap, must be used by third parties and employers

More information

Year End Tax Reporting

Year End Tax Reporting Year End Tax Reporting TO: FROM: All Clients Nathan Wechsler & Company Professional Association DATE: January 8, 2016 Another year has come to an end. We again want to take time to remind you of certain

More information

Traditional and Roth IRAs

Traditional and Roth IRAs Traditional and Roth IRAs Information Kit, Disclosure Statement and Custodial Agreement NOT FDIC INSURED \ NO BANK GUARANTEE \ MAY LOSE VALUE FRM-IRADISC(1/11) State Street Bank and Trust Company Universal

More information

2008-2012 $5,000 2013-2015 $5,500 Future years Increased by cost-of-living adjustments (in $500 increments)

2008-2012 $5,000 2013-2015 $5,500 Future years Increased by cost-of-living adjustments (in $500 increments) Part One of the Disclosure Statement describes the rules applicable to Traditional IRAs. IRAs described in these pages are called Traditional IRAs to distinguish them from the Roth IRAs, which are described

More information

Benefits through the stages of your life. Understanding Effective Salary

Benefits through the stages of your life. Understanding Effective Salary Benefits through the stages of your life. Understanding Effective Salary Table of Contents The Community of Faith and the Benefits Plan...1 Effective Salary and the Benefits Plan... 3 Plan Definition...

More information

Instructions: Lines 1 through 21, on pages 1 and 2

Instructions: Lines 1 through 21, on pages 1 and 2 Instructions: Lines 1 through 21, on pages 1 and 2 This form is to be used by individuals who receive income reported on Federal Forms W-2, W- 2G, Form 5754, 1099-MISC, and/or Federal Schedules C, E, F

More information

Small Business Tax Issues

Small Business Tax Issues Small Business Tax Issues Presenter: Julie Herman-Wiese Business Development Manager H&R Block and Fill in tax preparer Julie.Hermanwiese@hrblock.com 253.656.1379 Prior to H&R Block: Ran my own consulting

More information

OptRight Online: 2013 Year End Customer Guide

OptRight Online: 2013 Year End Customer Guide November 2013 Wells Fargo Business Payroll Services OptRight Online: 2013 Year End Customer Guide 2013 Wells Fargo Bank N.A. All rights reserved. Member FDIC. Welcome to the 2013 year-end customer guide

More information

Member / Beneficiary Request To Withdraw Contributions / Elect Rollover

Member / Beneficiary Request To Withdraw Contributions / Elect Rollover Orange County Employees Retirement System 2223 E. Wellington Avenue. Suite 100 Santa Ana, CA 92701 (714) 558-6200 www.ocers.org Member / Beneficiary Request To Withdraw Contributions / Elect Rollover Please

More information

THIRD AVENUE FUNDS INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA

THIRD AVENUE FUNDS INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA THIRD AVENUE FUNDS INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA TABLE OF CONTENTS COMBINED DISCLOSURE STATEMENT 3 TRADITIONAL INDIVIDUAL RETIREMENT ACCOUNT DISCLOSURE 4 ROTH INDIVIDUAL

More information

Annual Payroll Tax Update

Annual Payroll Tax Update Annual Payroll Tax Update Krista Koster, CPA, MSA Tessa Keena, Senior Accountant Rates and Wage Bases Standard Mileage Rates Type 2015 2014 Business Miles * 56 cents Medical/moving * 23.5 cents Charitable

More information

Deferral Limits for Plans 401(k) $17,000 $17,500 SIMPLE $11,500 $11,500 403(b) $17,000 $17,500 457 $17,000 $17,500

Deferral Limits for Plans 401(k) $17,000 $17,500 SIMPLE $11,500 $11,500 403(b) $17,000 $17,500 457 $17,000 $17,500 Kathleen E. Sweeney, CPA PO Box 1259, 44 Plymouth Street PO Box 1187 Center Harbor, NH 03226 N. Conway, NH 03860 Phone: (603) 253-4011 603-356-7036 Fax: (603) 253-4051 603-733-5250 E-Mail: ksweeney@metrocast.net

More information

GALLAGHER, FLYNN & COMPANY, LLP Tax Alert Issue #40 ~ December 3, 2014. Guidelines for Personal Use of Company Vehicles

GALLAGHER, FLYNN & COMPANY, LLP Tax Alert Issue #40 ~ December 3, 2014. Guidelines for Personal Use of Company Vehicles GALLAGHER, FLYNN & COMPANY, LLP Tax Alert Issue #40 ~ December 3, 2014 Guidelines for Personal Use of Company Vehicles A Company may provide various fringe benefits to attract and keep good employees.

More information

www.mediadataservices.com 2014 YEAR END INFORMATION 2015 PAYROLL TAX PREVIEW

www.mediadataservices.com 2014 YEAR END INFORMATION 2015 PAYROLL TAX PREVIEW The Payroll Experts 265 Route 46, Suite 206, Totowa, NJ 07512 TELEPHONE: 973-785-3100 FAX: 973-785-2453 973-785-0375 973-785-0560 www.mediadataservices.com 2014 YEAR END INFORMATION & 2015 PAYROLL TAX

More information

Guide to Taxation of Employee Disability Benefits

Guide to Taxation of Employee Disability Benefits Guide to Taxation of Employee Disability Benefits STANDARD INSURANCE COMPANY Guide to Taxation of Employee Disability Benefits Standard Insurance Company (The Standard) developed this guide to help you

More information

SAVINGS INCENTIVE MATCH PLAN FOR EMPLOYEES BASIC PLAN DOCUMENT

SAVINGS INCENTIVE MATCH PLAN FOR EMPLOYEES BASIC PLAN DOCUMENT Customer copy please retain for your records. SAVINGS INCENTIVE MATCH PLAN FOR EMPLOYEES BASIC PLAN DOCUMENT DEFINITIONS ADOPTING EMPLOYER Means any corporation, sole proprietor or other entity named in

More information

CHECKLIST FOR YEAR-END PAYROLL PROCESSING

CHECKLIST FOR YEAR-END PAYROLL PROCESSING DECEMBER 2014 CHECKLIST FOR YEAR-END PAYROLL PROCESSING Ask employees to verify their names, addresses and Social Security Numbers before preparing W-2s. Employee names should be reported in capital letters

More information

2014 Business Tax Organizer. Limited Liability Companies, S Corporations, C Corporations & Sole Proprietors

2014 Business Tax Organizer. Limited Liability Companies, S Corporations, C Corporations & Sole Proprietors 2014 Business Tax Organizer Limited Liability Companies, S Corporations, C Corporations & Sole Proprietors 1553 W. Todd Dr., Suite 112 Tempe, AZ 85283 (480) 517-0988 January 2015 Good Afternoon! We have

More information

Health savings account Q&As

Health savings account Q&As Health savings account Q&As What are HSAs and who can have them? 1. What is a Health Savings Account (HSA) and how does it work? An HSA is a tax-advantaged account established to pay for qualified medical

More information

2012 Year End Accountant Guide

2012 Year End Accountant Guide 2012 Year End Accountant Guide For your clients using RUN Powered by ADP This guide contains information and critical dates to assist you with year end payroll and tax filing tasks. HR. Payroll. Benefits.

More information

What s News in Tax Analysis That Matters from Washington National Tax

What s News in Tax Analysis That Matters from Washington National Tax What s News in Tax Analysis That Matters from Washington National Tax Stock Option Compensation Warnings for the Unwary Stock options are a popular form of compensation provided to employees of corporations.

More information

SEP and SEP PLUS SIMPLIFIED EMPLOYEE PENSION PROGRAMS

SEP and SEP PLUS SIMPLIFIED EMPLOYEE PENSION PROGRAMS SEP and SEP PLUS SIMPLIFIED EMPLOYEE PENSION PROGRAMS PLAN DOCUMENTS, DISCLOSURE STATEMENTS AND EMPLOYER S ADOPTION AGREEMENTS CONTENTS SEP PROGRAM SEP PLUS PROGRAM is for use on or after January 1, 2002

More information

UNDERSTANDING YOUR FORM W-2 AND 1042-S INFORMATION REGARDING YOUR FORM W-2 WAGE AND TAX STATEMENT

UNDERSTANDING YOUR FORM W-2 AND 1042-S INFORMATION REGARDING YOUR FORM W-2 WAGE AND TAX STATEMENT UNDERSTANDING YOUR FORM W-2 AND 1042-S INFORMATION REGARDING YOUR FORM W-2 WAGE AND TAX STATEMENT The Form W-2 is your wage and tax statement provided by your employer to provide information on your taxable

More information

Defined Contribution Plan Distribution Kit for CSU Safe Harbor Participants

Defined Contribution Plan Distribution Kit for CSU Safe Harbor Participants Defined Contribution Plan Distribution Kit for CSU Safe Harbor Participants University of California Retirement System (UCRS) UBEN 143 CSU (R3/99) Use the form in the back of this kit if you have left

More information

DOMINI SOCIAL INVESTMENTS INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA

DOMINI SOCIAL INVESTMENTS INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA DOMINI SOCIAL INVESTMENTS INDIVIDUAL RETIREMENT ACCOUNT (IRA) TRADITIONAL IRA SEP IRA ROTH IRA TABLE OF CONTENTS TRADITIONAL and ROTH INDIVIDUAL RETIREMENT ACCOUNT (IRA) 4 COMBINED DISCLOSURE STATEMENT

More information

4/8/2015. Fair Market Value (FMV) Non taxable Fringe Benefits Working Condition Fringe No additional cost services Qualified Employee Discounts

4/8/2015. Fair Market Value (FMV) Non taxable Fringe Benefits Working Condition Fringe No additional cost services Qualified Employee Discounts Linda Dailey, Payroll Compliance Supervisor Fairfax County Government Linda.Dailey@fairfaxcounty.gov (703) 324 9413 Fair Market Value (FMV) Non taxable Fringe Benefits Working Condition Fringe No additional

More information

Instructions for Form 8853

Instructions for Form 8853 2011 Instructions for Form 8853 Archer MSAs and Long-Term Care Insurance Contracts Department of the Treasury Internal Revenue Service Section references are to the Internal Revenue Code unless otherwise

More information

UBS Financial Services Inc. SIMPLE IRA Summary Description

UBS Financial Services Inc. SIMPLE IRA Summary Description UBS Financial Services Inc. SIMPLE IRA Summary Description Your employer has adopted a SIMPLE IRA Plan (SIMPLE IRA Plan) to provide you with a tax-deferred means to accumulate savings for retirement through

More information

GENERAL INSTRUCTIONS FOR COMPLETING YOUR RETURN

GENERAL INSTRUCTIONS FOR COMPLETING YOUR RETURN GENERAL INSTRUCTIONS FOR COMPLETING YOUR RETURN PITTSBURGH CITY & SCHOOL DISTRICT The City of Pittsburgh Earned Income Tax is levied at the rate of 1% under ACT 511. The Pittsburgh School District Earned

More information

Alien Tax Home Representation Form

Alien Tax Home Representation Form Alien Tax Home Representation Form I have reviewed the attached tax home information for aliens and/or have consulted with my tax advisor and make the following good faith representation (please check

More information

Tax Implications of Health Care Reform

Tax Implications of Health Care Reform Tax Implications of Health Care Reform Presented by: Art Sparks, CPA Partner Certified Public Accountants Summary Summary The Patient Protection and Affordable Care Act (PPACA) and the companion Health

More information

Matheson Associates, LLC 110 S. Jefferson Road Whippany, NJ 07981 973 428 8885

Matheson Associates, LLC 110 S. Jefferson Road Whippany, NJ 07981 973 428 8885 1 R Matheson Associates, LLC 110 S. Jefferson Road Whippany, NJ 07981 973 428 8885 Business Owner's Compliance Checklist Set-up accounting procedures and system for income and expense tracking for tax

More information

PERSONAL INCOME TAX BULLETIN 2005-03

PERSONAL INCOME TAX BULLETIN 2005-03 PERSONAL INCOME TAX BULLETIN 2005-03 Issued: October 12, 2005 First Revision: December 22, 2005 Second Revision: September 08, 2006 Deferred Compensation Under Nonqualified Plans Part I. Overview. (a)

More information

2014 Tax Organizer for Corporations, Partnerships and Trusts. Telephone: Fax #: E-mail Address: Contact Person:

2014 Tax Organizer for Corporations, Partnerships and Trusts. Telephone: Fax #: E-mail Address: Contact Person: Business Advisors & CPAs 17300 Henderson Pass, Suite 240 San Antonio, Texas 78232 P (210) 344-0205 F (210) 344-4362 cpa@teamoliver.com www.teamoliver.com 2014 Tax Organizer for Corporations, Partnerships

More information

SACRAMENTO METROPOLITAN FIRE DISTRICT GOVERNMENTAL 457 DEFERRED COMPENSATION PLAN

SACRAMENTO METROPOLITAN FIRE DISTRICT GOVERNMENTAL 457 DEFERRED COMPENSATION PLAN SACRAMENTO METROPOLITAN FIRE DISTRICT GOVERNMENTAL 457 DEFERRED COMPENSATION PLAN DEEMED IRA ACCOUNTS DISCLOSURE STATEMENT This Disclosure Statement summarizes the provisions relating to the deemed IRA

More information