Thursday, January 9, 2020

IT'S TAX TIME - GET YOUR W2 FORMS READY- IRS.GOV

Attention: click here to access PDF W2 Form

You may file Forms W-2 and W-3 electronically on the SSA’s Employer W-2 Filing Instructions and Information web page, which is also accessible at www.socialsecurity.gov/employer. 

You can create fill-in versions of Forms W-2 and W-3 for filing with SSA. 

You may also print out copies for filing with state or local governments, distribution to your employees, and for your records. 

Note: 

Copy A of this form is provided for informational purposes only. 

Copy A appears in red, similar to the official IRS form. 

The official printed version of this IRS form is scannable, but the online version of it, printed from this website, is NOT. 

Do NOT print and file Copy A downloaded from this website with the SSA; a penalty may be imposed for filing forms that can’t be scanned. 
See the penalties section in the current General Instructions for Forms W-2 and W-3, available at www.irs.gov/w2, for more information. 

Please note that Copy B and other copies of this form, which appear in black, may be downloaded, filled in, and printed and used to satisfy the requirement to provide the information to the recipient. 

To order official IRS information returns such as Forms W-2 and W-3, which include a scannable 

Copy A for filing, go to IRS’ Online Ordering for Information Returns and Employer Returns page, or visit www.irs.gov/orderforms and click on Employer and Information returns. 

We’ll mail you the scannable forms and any other products you order. See IRS Publications 1141, 1167, and 1179 for more information about printing these tax forms.


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General Instructions for Forms W-2 and W-3 (2019)

(Including Forms W-2AS, W-2CM, W-2GU, W-2VI, W-3SS, W-2c, and W-3c)


Section references are to the Internal Revenue Code unless otherwise noted.
2019

Future Developments

For the latest information about developments related to Forms W-2 and W-3 and their instructions, such as legislation enacted after they were published, go to IRS.gov/FormW2.

Source: www.IRS.GOV

Taxpayer Rights

Tax season is approaching, be aware you have rights if it comes problem when paying your personal or business tax:
The Tax Payer Bill of Rights 10 crucial points:







Examination


The IRS accepts most returns as filed but if your return is audited, you have rights. If the IRS proposes additional tax and you don’t agree that you owe it, you have the right to challenge that decision.



  • Publication 556: Examination of Returns, Appeal Rights, and Claims for Refunds

Collection
 

If the IRS moves to collect overdue tax from you, you have rights. If you owe tax but can’t pay in full, you may be able to pay in installments or appeal the collection action.



  • Publication 5107: The IRS Collection Process: Your Rights and Responsibilities





Appeals


You have the right to appeal many actions the IRS taken in examination and collection.








    • Publication 5: Your Appeal Rights and How to Prepare a Protest if You Don't Agree
    • Source: www.IRS.GOV

Thursday, January 2, 2020

New Business Mileage Reimbursement Rates in 2020


On Dec. 31. 2019, the Internal Revenue Service (IRS) issued the 2020 optional standard mileage rates, which are used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on January 1, 2020, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
  • 57.5 cents per mile driven for business use (down from 58 cents in 2019);
  • 17 cents per mile driven for medical or moving purposes (down from 20 cents in 2019); and
  • 14 cents per mile driven in service of charitable organizations (unchanged).
The following table summarizes the optional standard mileage rates for employees, self-employed individuals, or other taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes.
Source: IRS.GOV