small business

isBig Business

to theIRS

www.IRS.gov/smallbiz 

2008 IRS Tax Calendar

For Small Businesses and Self-Employed
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2008 IRS Tax Calendar

For Small Businesses and Self-Employed

Did you know . . .

The Tax Gap

The Internal Revenue Service developed 

the concept of the tax gap as a way 

to gauge taxpayers’ compliance with 

their federal tax obligations. The 

tax gap measures the extent to which 

taxpayers do not timely file their tax 

returns and pay the correct tax.

IRS Efforts to Reduce the Tax Gap

In August 2007, the Treasury 

Department and the IRS released, 

“Reducing the Federal Tax Gap: 

A Report on Improving Voluntary 

Compliance,” which outlines all 

tax gap activities and efforts.

One key effort involves extensive 

outreach and education about specific 

topics with high rates of non-compliance. 

For example, the IRS releases fact sheets 

aimed at giving practitioners and 

taxpayers additional information to 

correctly prepare their tax returns. 

Examples of these fact sheets, which 

can be viewed at www.IRS.gov, keyword 

“Tax Gap,” include:

• Business Income and the Tax Gap

• Cost of Goods Sold and the Tax Gap

• Third-party Reporting Reminders

• Reporting Capital Gains

• Construction Industry Reminders
IRS Web Resources

The IRS offers web access to educational 

products, online services, forms and 

publications at your convenience, day 

or night.

Small Business and Self-Employed 

One-Stop Resource at www.IRS.gov/

smallbiz offers tax help through an 

indexed list of topics or alphabetically by 

business type (such as sole proprietor, 

partnership, or corporation).

Tax Help for Small Businesses and 

the Self-Employed

If you are starting or currently operating 

a small business, IRS has an extensive 

array of tax information, forms, 

publications and online tools and 

resources available on www.IRS.gov/

businesses.

Starting, Operating or Closing 

a Business

Whether you are a budding entrepreneur, 

or an established business owner, you will 

find everything you need to start and 

manage your business venture. 

www.IRS.gov/businesses/small/article/

0,,id=110417,00.html

Business Taxes

The form of business you operate 

determines what taxes you must pay and 

how you pay them. www.IRS.gov/businesses/

small/article/0,,id=98966,00.html

Checklist for Starting a Business

This checklist provides the basic steps 

you should follow to start a business.

www.IRS.gov/businesses/small/article/

0,,id=98810,00.html

Employer ID Number

An Employer Identification Number, 

also known as a Federal Tax Identification 

Number, is used to identify a business 

entity. www.IRS.gov/businesses/small/

article/0,,id=98350,00.html

Online tools available at www.IRS.gov

include:

• Sales Tax Deduction Calculator

• Where’s My Refund

• IRS Withholding Calculator

• Internet EIN: Application for 

Employer Identification Number 

(EIN)

• Electronic Federal 

Tax Payment System

• e-file

• Online Payment Agreement

• Authorized e-file Provider (for 

Individuals) List

• Alternative Minimum Tax (AMT) 

Assistant

• EITC Assistant (available in English 

and Spanish)

• Tax Trails (offers answers to many 

common tax questions)

• Walk-in Site Search

Other Small Business Resources:

e-News for Small Businesses

The Small Business/Self-Employed 

division has a free electronic mail service 

designed to provide tax information for 

small business owners. Sign-up for the 

Small Business/Self-Employed mailing 

Form 944, Employer’s Annual Federal 

Tax Return

This is designed so the smallest 

employers (those whose annual liability 

for social security, Medicare, and 

withheld federal income taxes is $1,000 

or less) will file and pay these taxes only 

once a year instead of quarterly. The 

IRS will notify you if you qualify to file 

Form 944.

EO e-Postcard

Beginning in 2008, certain small taxexempt organizations will have a new 

filing requirement. It’s short, easy, and 

electronic – it’s the new e-Postcard. 

What happens if you don’t file? You risk 

losing your tax-exempt status! Go to 

www.IRS.gov/eofor all the details.

At a Glance items of interest

www.IRS.gov/smallbiz

list and you will receive information 

about important upcoming tax dates, 

what’s new on the IRS Web site, recently 

added tax forms and publications, 

IRS news releases and special IRS 

announcements. Subscribe to this and 

other free subscription services in the 

Newsroom of www.IRS.gov under e-News 

Subscriptions.

Publication 966, Electronic Choices 

to Pay All Your Federal Taxes contains 

information about EFTPS, a free 

system from the U.S. Department of 

the Treasury that enables business and 

individual taxpayers to make all their 

federal tax payments electronically 24 

hours a day, seven days a week through 

the Internet or by phone. www.IRS.gov/

pub/irs-pdf/p966.pdf

Business.gov

Official business link to the U.S. 

Government managed by the 

U.S. Small Business Administration in 

a partnership with 21 other federal 

agencies. www.business.gov

FirstGov.gov and FirstGov En Español 

makes it easy for the public to get U.S. 

government information and services 

on the web. www.usa.gov and www.usa.gov/

gobiernousa/index.shtml

State Links

This IRS.gov link connects to your state’s 

Web site for small business information.

www.IRS.gov/businesses/small/article/

0,,id=99021,00.html
Other Useful Resources:

U.S. Department of Treasury 

Internal Revenue Service (IRS)

1500 Pennsylvania Avenue NW

Washington DC 20230

http://www.IRS.gov/business/index.html 

The IRS offers information on tax 

requirements for small businesses. 

Social Security Administration: Visit 

the Business Services Online link to find 

applications that enable organizations 

and authorized individuals to conduct 

business with the Social Security 

Administration. This includes free 

filing for Forms W-2 electronically. 

www.socialsecurity.gov/

Copy A / Form W-2 Reporting

For questions about wage reporting 

(submitting Copy A of Form W-2 to 

SSA), refer to the SSA’s Employer 

Reporting Service at 800-772-6270 or 

e-mail employerinfo@socialsecurity.gov.

General SSA Benefit Questions

For general Social Security benefit 

questions, refer to SSA’s Tele Service 

Center at 800-772-1213.

Small Business Administration (SBA)

For more information about SBA 

business development programs and 

Services call the SBA Small Business 

Answer Desk at 1-800-U-ASK- SBA 

(827-5722) or visit www.sba.gov. The 

SBA’s Small Business Planner includes 

information and resources that will help 

you at any stage of the business lifecycle. 

U.S. Department of Commerce 

(DOC)

Office of Business Liaison

14th Street and Constitution Avenue, NW

Washington, DC 20230

http://www.osec.doc.gov/obl/

IRS Tax Help

Appeals www.IRS.gov/appeals Identify Theft www.IRS.gov (keywords: Identity Theft)

Business and Specialty Tax Help Line 800-829-4933 Information Reporting 

Program Customer Service

866-455-7438

International: 304-263-8700

TTY/TDD: 304-267-3367

E-mail: mccirp@irs.gov

Credit Card Payments (Forms 1040) 800.2PAY.TAX (800-272-9829)

800.PAY.1040 (888-729-1040) Local IRS Office Locations www.IRS.gov/localcontacts

Earned Income Tax Credit (EITC) www.IRS.gov (keyword: EITC) National Taxpayer Advocate 

Case Intake Line

www.IRS.gov/advocate or 877-777-4778 

or TTY/TDD: 800-829-4059

Electronic Federal Tax Payment 

System (EFTPS) Enrollment

Individuals: 800-316-6541

Business: 800-555-4477

Spanish: 800-244-4829

TTY/TDD: 800-733-4829

TE/GE Customer Account 

Services 877-829-5500

Electronic IRS www.IRS.gov (keywords: electronic IRS) Order Tax Forms or 

Publications www.IRS.gov/formspubs or 800-829-3676

Employer Identification Number (EIN) www.IRS.gov (keyword: EIN) 

or 800-829-4933 Tax Help Line for Individuals 800-829-1040

Filing Locations www.IRS.gov/file Where’s My Refund? www.IRS.gov (keywords: Where is my refund) 

or 800-829-4477

U.S. Department of Labor (DOL)

Employment Standards Administration

200 Constitution Avenue, NW

Washington, DC 20210

Provides wages and work hours, 

workplace safety and health, and 

retirement and health benefits 

information.

www.dol.gov
2008 IRS Tax Calendar For Small Businesses and Self-Employed

www.IRS.gov/smallbiz

Available in both English and Spanish (Publication 1518SP), this calendar is filled with useful information on...

General business taxes / Internal Revenue Service (IRS) and Social Security Administration (SSA) customer 

assistance / Electronic filing and paying options / Retirement plans / Business publications and forms / Common 

tax filing dates / Federal legal holidays.

Each page highlights a different tax issue that may be relevant to your business. You may find it helpful to read 

through the entire calendar and then refer back to those pages that pertain to you.

Each month includes a section to add your own notes, such as state tax dates or business appointments.

For an online version of the tax calendar, visit www.IRS.gov, keyword: tax calendar. As an added feature for 2008, 

you can now download the tax calendar dates into Microsoft Outlook and access the calendar via hand-held devices 

(Blackberrys, Palm Pilots, etc.).

2008 IRS Nationwide

Tax Forums

Dates Locations

July 1 – 3 Atlanta, GA

July 22 – 24 Chicago, IL

August 5 – 7 Orlando, FL

August 19 – 21 Las Vegas, NV

August 26 – 28 New York, NY

September 9 – 11 San Diego, CA

Watch “Tax Talk Today” to 

Stay Current on IRS News

Tax Talk Today is a free program 

sponsored by the IRS and broadcast 

through the Web about current tax issues 

and policies. The program can be viewed 

in three ways: live internet broadcast, 

archive internet broadcast, or VHS tape. 

The one-hour shows air at 2 p.m. (ET) 

on the dates listed below:

January 8, 2008

March 11, 2008

May 13, 2008

July 8, 2008

September 9, 2008

October 21, 2008 (tentative)

December 9, 2008 (tentative)

Go to www.IRS.gov, key words: Tax Talk 

Today, to find out more.
Choosing a Tax Professional

You’re starting a new business. With 

your new responsibilities you may need 

assistance with your taxes and decide to 

hire a professional tax preparer — 

someone with experience preparing tax 

returns for businesses like 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 or she offers 

what you are looking for:

• Experience: Does the tax professional 

have experience in working with 

similar size and type businesses? Is he 

or she familiar with your particular 

line of business?

• Services: Does the tax professional 

offer electronic filing—the safest and 

most efficient way to file your return?

• Price: What does the tax professional 

charge for services? If the IRS 

examines your return, what is the 

policy on assisting you?

• References: Ask for a list of clients 

that you can contact.

Do you need an Employer Identification 

Number?

You will need an EIN if you answer “yes” 

to any of the following questions.

1. Do you have employees?

2. Do you operate your business as 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 nonresident alien?

5. Do you have a Keogh plan?

6. Are you involved with any of the 

following types of organizations?

a. Trusts (except certain grantorowned 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, it is easy to 

obtain by applying via

• www.IRS.gov at “Internet EIN 

application.”

• EIN toll-free telephone service at 

800-829-4933 

• Faxing a completed Form SS-4 to fax 

number in SS-4 instructions

• Mailing a completed SS-4 to address 

in SS-4 instructions

Choosing a Business Structure

Your form of business determines 

which income tax return form you have 

Ready, Set, Go UNLimited Possibilities 

www.IRS.gov/smallbiz

to file. Common business structures 

are sole proprietorship, partnership, 

corporation, S corporation, and limited 

liability company (LLC). Legal and tax 

considerations enter into selecting a 

business structure.

• Sole proprietor – someone who owns 

an unincorporated business by himself 

or herself.

• Partnership – 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 – relationship where 

prospective shareholders exchange 

money, property, or both, for the 

corporation’s capital stock. Profits 

of the corporation 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 (LLC) 

– 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 passthrough taxation similar to that of a 

partnership.
Sunday Monday Tuesday Wednesday Thursday Friday Saturday

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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

New Year’s Day

Stop advance payment of 

the Earned Income Credit for 

any employee not submitting 

a new Form W-5.

Employers: Employees are 

required to report to you tips of $20 

or more earned during December. 

Martin Luther King Jr.’s

Birthday

Deposit Payroll tax for Dec 2007 if 

the monthly deposit rule applies.

Individuals: Pay the final installment of your 2007 estimated tax. 

Use Form 1040-ES.

Farmers and fishermen: Pay your 

estimated tax for 2007. Use Form 

1040-ES.

Furnish Forms 1098, 1099 and W-2G to recipients for certain payments made during 2007.

Deposit FUTA tax owed through Dec if $500 or less.

File Forms 940, 941, 943, 944 and/or 945, if you did not deposit all taxes when due.

File Form 720 for the 4th quarter of 2007.

File Form 730 and pay the tax on wagers accepted during Dec 2007.

File Form 2290 and pay the tax on vehicles first used in Dec 2007.

January 2008

 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 29

 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

Start Fresh

Visit 

www.IRS.gov/smallbiz

to go through the 

Checklist for Starting 

a Business, including 

information on how 

to get an Employer 

Identification 

Number (EIN).

“I am thankful for the taxes I pay because it means that 

I’m employed.” — Nancie J. Carmody, author

Deposit Payroll tax for payments 

on Jan 1 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Jan 2-4 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Jan 5-8 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Jan 9-11 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Jan 12-15 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Jan 16-18 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Jan 19-22 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Jan 23-25 if the semiweekly 

deposit rule applies.

Watch Tax Talk Today, 2 p.m. ET
Choosing a Tax Year

Calendar Year vs. Fiscal Year

Each taxpayer must figure taxable 

income on the basis of an annual 

accounting period for keeping records 

and reporting income and expenses—a 

tax year. Two choices are available:

• Calendar year

• Fiscal year

A calendar year runs from January 1 

through December 31 and generally may 

be adopted by anyone. In some 

instances, a calendar year is required.

A 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 tax returns unless you get 

IRS approval to change. You can request 

a change in your tax year may be 

requested by filing Form 1128, Application 

to Adopt, Change, or Retain a Tax Year.

See IRS Publication 538, Accounting 

Periods and Methods.

Choosing an Accounting Method

Cash Method vs. Accrual Method

Every taxpayer is required to have an 

accounting method to report income 

and expenses. The two most commonly 

used methods are cash and accrual. You 

select the method when you file your 

first tax return.

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

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 28th but decide not to 

negotiate it until the following year, you 

must still count the check as income in 

the current year. 

Business expenses are usually deducted 

in the year they are paid. For example, 

you order office supplies in October 

2007 and they arrive in December. You 

send a check to pay for them in January 

2008. Under the cash method, you 

should claim that business expense 

deduction on your 2008 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

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 

Stake your Claim Broaden Your Horizon

www.IRS.gov/smallbiz

until the following year. Similarly, you 

deduct business expenses in the year the 

liability arises, regardless of when they 

are actually paid. Using the office supply 

example, under the accrual method, you 

may deduct the business expenses for 

supplies on your 2007 tax return, the 

year you ordered the supplies and they 

were delivered, even though you sent a 

check to pay for them in January 2008. 

You may deduct the expenses in 2007 

because that is when you became liable 

for the expense. 

See IRS Publication 538, Accounting 

Periods and Methods.
Sunday Monday Tuesday Wednesday Thursday Friday Saturday

1 2

3 4 5 6 7 8 9

24 25 26 27 28 29

10 11 12 13 14 15 16

17 18 19 20 21 22 23

February 2008

Washington’s Birthday

Employers: Employees are 

required to report to you tips of 

$20 or more earned during 

January.

File Forms 940, 941, 943, 944, 

and/or 945 if you timely deposited 

all required payments.

Deposit Payroll tax for payments 

on Feb 20 - 22 if the semiweekly 

deposit rule applies

File Form W-3, "Transmittal of Wage and Tax Statements," along with 

Copy A of all Forms W-2 you issued in 2007.

File Form 730 and pay the tax on wagers accepted during Jan.

File Form 2290 and the tax for vehicles first used in Jan.

File form 8027 if you are a large food or beverage establishment.

Deposit Payroll tax for payments on Feb. 23 - 26 if the semiweekly deposit 

rule applies.

 March

 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

 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

Secure a new Form W-4 from 

employees claiming "exempt" 

during 2007. 

Deposit Payroll tax for January if 

the monthly deposit rule applies.

Deposit Payroll tax for payments 

on Feb 9 - 12 if the semiweekly 

deposit rule applies.

Schedule 

Payments

Keep up with 

payment deadlines. 

EFTPS offers a 

“payment scheduling” 

feature which 

automatically makes 

payments according 

to your schedule. Begin withholding income tax 

from employees who claimed 

exemption from withholding in 

2007 but did not submit a new 

Form W-4.

“The best measure of a man’s honesty isn’t his income tax return.

It’s the zero adjust on his bathroom scale.’’ — Arthur C. Clarke, author

Deposit Payroll tax for payments 

on Jan 26-29 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Jan 30-Feb 1 if the 

semiweekly deposit rule applies.

Deposit Payroll tax for payments 

on Feb 2-5 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Feb 6-8 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Feb 13-15 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Feb 16-19 if the semiweekly 

deposit rule applies.

File information returns (Forms 

1098, 1099 and W-2G) for certain 

payments made during 2007.
Family Business Ties Spouse as business 

partner v. employee

www.IRS.gov/smallbiz

control of the employer). If such a 

relationship exists, then the spouse, as 

an employee, is subject to income tax 

and FICA (social security and Medicare) 

withholding. There is no liability for 

FUTA tax. For more information, refer 

to Publication 15 Circular E, Employer’s 

Tax Guide.

One of the advantages of operating your 

own business is hiring family members. 

However, the employment tax 

requirements for family employees may 

vary from those that apply to other 

employees. Here are some issues to 

consider when operating a husband and 

wife business...

How can spouses earn social security 

benefits?

...As an employee

A spouse can earn social security 

benefits in one of two ways. He or she 

could be an employee if an employer/

employee relationship exists (an 

employee is under the direction and 

...As a business partner

However, if the spouse has an equal say 

in the affairs of the business, provides 

substantially equal services to the 

business, and contributes capital to 

the business, then a partnership (even 

if there is no formal partnership 

agreement) type of relationship exists 

and the business’s income should 

be reported on Form 1065, U.S. 

Return of Partnership Income.

Each spouse should carry his or 

her share of the partnership 

income or loss from Form 1065 

Schedule K-1, Partner’s Share of 

Income, Credits, Deductions, etc., to 

their joint or separate Form(s) 

1040. Each spouse should 

include his or her respective 

share of self-employment 

income on a separate Form 1040 

Schedule SE, Self-Employment Tax. 

Self-employment income 

belongs to the person who is 

the member of the partnership 

and cannot be treated as selfemployment income by the 

nonmember spouse, even in 

community property states. This 

generally does not increase the 

total tax, but does give each 

spouse social security credit for 

retirement benefits.
Sunday Monday Tuesday Wednesday Thursday Friday Saturday

1

2 3 4 5 6 7 8

9 10 11 12 13 14 15

30 31

23 24 25 26 27 28 29

16 17 18 19 20 21 22

Farmers and fishermen: File 

your 2007 income tax return (Form 

1040) and pay any tax due.

Employers: Employees are 

required to report to you tips of 

$20 or more earned during 

February.

Deposit Payroll tax for payments 

on Mar 5-7 if the semiweekly 

deposit rule applies.

Deposit payroll tax for February if the monthly deposit rule applies.

Corporations: File a 2007 calendar year income tax return 

(Form 1120 or 1120-A). 

S Corporations: File a 2007 calendar year income tax return 

(Form 1120-S). Provide shareholders with a copy of Sch. K-1. 

S Corporation elections: File Form 2553 to choose to be treated as 

an S corporation beginning the calendar year 2008.

Electing Large Partnerships: Provide each partner with a copy of Sch K-1.

Deposit Payroll tax for payments 

on Mar 22-25 if the semiweekly 

deposit rule applies.

 April

 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

 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 29

Deposit Payroll tax for payments 

on Mar 8-11 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Mar 19-21 if the semiweekly 

deposit rule applies.

Electronic filing of Forms W-2, 

W-2G, 1098, 1099, and 8027. 

File Form 730 and pay the tax on 

wagers accepted during February. 

File Form 2290 and the tax for 

vehicles first used in February.

March 2008

Craft 

a Plan

Most common 

business forms can 

be e-filed – including 

forms for employment 

taxes, partnerships, 

estates and trusts, 

information returns, 

corporations, 

and charities and 

non-profits, etc.

Help us help you and other small businesses.

Please take a few minutes to give us your feedback 

so we can continue to improve this calendar.

http://216.12.134.241/rateourproducts/survey_calendar.aspx

Deposit Payroll tax for payments 

on Feb 27-29 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Mar 1-4 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Mar 12-14 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Mar 15-18 if the semiweekly 

deposit rule applies.

Watch Tax Talk Today, 2 p.m. ET
Hiring employees is just another facet of 

operating a business. Maintaining good 

payroll records is critical for the benefit of 

both you and your employees.

Here are some of the records with which 

you will need to become familiar:

Form W-4, Employee’s Withholding Allowance 

Certificate. Ask all new employees to 

complete and return Form W-4 showing 

their filing status and how many 

withholding allowances are permitted. 

Verify the social security number with the 

employee’s social security card. If a new 

employee fails to complete and return 

Form W-4, withhold income tax as if he 

or she is single with no withholding 

allowances.

Form W-5, Earned Income Credit Advance 

Payment Certificate. The earned income 

credit for low-income taxpayers allows 

eligible employees to be paid part of the 

credit in advance. Eligible employees 

who want advance payments must 

complete Form W-5 and submit it to you.

Records: Keep 

detailed employment 

tax records. See 

Publication 15 

Circular E, Employer’s 

Tax Guide, for more 

information.

Tips: Tip income 

employees receive 

from customers is 

taxable. Employees 

must report cash 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.

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 

(including advance earned income credit 

payments) during the year.

Form W-2, Wage and Tax Statement. This 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 Social Security on the last 

day of February, although electronic filers 

have until the last day of March.

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, quarterly 

deposits must be made. Always maintain 

a copy of the filed tax return.

Form 941, Employer’s Quarterly Federal Tax 

Return. This is your quarterly report of 

wages paid, tip income received by the 

employee, income tax withheld, social 

security and Medicare taxes and tips, and 

advanced earned income credit paid to 

the employee. Make a copy for your 

records.

Form 944, Employer’s Annual Federal Tax 

Return. In place of Form 941, this is an 

annual report of wages for employers 

whose total annual liability for income tax 

withheld, social security, and Medicare 

taxes is $1,000 or less. The IRS will 

notify you if you qualify to file Form 944. 

Make a copy for your records. 

Outsourcing Payroll Duties – Know Your 

Tax Responsibilities as an Employer.

Outsourcing payroll and related tax duties 

to third-party payroll service providers is 

a common practice which allows 

employers to meet filing deadlines and 

deposit requirements while at the same 

time streamlining business operations. 

Employers who outsource retain their 

payroll duties still remain ultimately 

responsibility for the deposit and 

payment of federal tax liabilities. If the 

third-party fails to make the federal tax 

payments, the IRS may assess penalties 

and interest on the employer’s account. 

IRS correspondence is sent to the 

employer’s address of record so it is 

strongly suggested that the address not be 

changed to that of the payroll service 

provider. This change might significantly 

limit the employer’s ability to get timely 

information about tax matters involving 

their business. 

Form 1099-MISC,Miscellaneous Income. 

Sometimes, you will contract to have work 

done. When this occurs use Form 1099-

MISC to report certain payments. For 

example:

• Payments of $10 or more for royalties, 

interest, or dividends;

• Payments of $600 or more for rents, 

prizes, and awards for services 

rendered; and

• Payments of $600 or more to workers 

who were not your employees.

Keep your organized employment tax 

information in a safe place to take 

advantage of deductions allowed and 

avoid costly penalties and interest for late 

payments or errors on returns.

See IRS Publication 15 Circular E,

Employer’s Tax Guide.

Operational Stability Know the Rules

www.IRS.gov/smallbiz
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Deposit Payroll tax for payments 

on Apr 19-22 if the semiweekly 

deposit rule applies.

 May

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 March

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File Form 941 if you did not deposit all taxes when due.

File Form 720 for the 1st quarter of 2008.

File Form 730 and pay the tax on wagers accepted during March. 

File Form 2290 and pay the tax on vehicles first used in March. 

Deposit FUTA tax owed through March if more than $500.

Deposit Payroll tax for payments on Apr 23-25 if the semiweekly deposit 

rule applies.

File a 2007 Form 1040, 1040-A, or 1040-EZ and pay any tax due. 

Deposit Payroll tax for March if the monthly deposit rule applies. 

Individuals: Pay the first installment of your estimated tax for 2008.

Partnerships/Electing Large Partnerships: File a 2007 calendar year 

return (Form 1065 or 1065-B). Provide each partner with a copy of Sch. K-1. 

Corporations: Deposit the first installment of your estimated tax for 2008. 

Household employers: File Schedule G if you paid $1,500 or more to a 

household employee.

Employers: Employees are 

required to report to you tips of 

$20 or more earned during March.

April 2008

The 

Tax Gap

Visit www.IRS.gov

to find resources on 

the tax gap—the 

difference between 

the amount of tax 

taxpayers should pay 

and the amount that 

is paid voluntarily 

and on time.

“Taxes are what we pay for civilized society.’’

— Oliver Wendell Holmes, Jr., U.S. Supreme Court Justice

Deposit Payroll tax for payments 

on Mar 26-28 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Mar 29-Apr 1 if the 

semiweekly deposit rule applies.

Deposit Payroll tax for payments 

on Apr 2-4 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Apr 5-8 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Apr 9-11 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Apr 12-15 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Apr 16-18 if the semiweekly 

deposit rule applies.

District of Columbia 

Emancipation Day
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. If the vehicle is used solely for 

personal use such as commuting to and 

from work, no deduction is allowed. 

Deductible car expenses can include the 

cost of 1) traveling from one workplace to 

another, 2) making business trips to visit 

customers or attend business meetings 

away from your regular workplace, and 

3) traveling to temporary workplaces.

To claim the deduction, keep complete 

and accurate mileage records for each 

business use of your car. If you are 

unable to produce a clear record, the 

IRS may disallow the deduction. Two 

methods are available for claiming 

business car expenses: 

Actual Expenses: Add your entire 

car operating expenses for the year, 

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. Business-related parking and 

road tolls are fully deductible expenses 

that do not have to be reduced by the 

percentage of business usage.

Standard Mileage Rate: The 2007 

standard Mileage Rate rates for the use of 

a car (including vans, pickups, or panel 

trucks) were:

• 48.5 cents per mile for business miles 

driven;

• 20 cents per mile driven for medical 

or moving purposes; and

• 14 cents per mile driven in service of 

charitable organizations.

Standard Mileage Rate: 2008 rates will 

be listed on www.IRS.gov when they 

become available.

Travel Expenses

Travel expenses are “ordinary and 

necessary” expenses incurred while 

traveling away from home for the 

primary purpose of business. Keep all 

receipts and relevant documentation to 

substantiate where you went, why you 

went, how long you stayed, and how 

much you spent. If your travel includes 

both business and personal travel, keep 

records showing how much is related to 

business. Keep the following:

Lodging receipts: These should show the 

travel location, duration of your stay, 

costs, and expenses incurred. 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. If you do not want to keep track 

of the actual costs of your meals, you 

may qualify to use the standard meal 

allowance. Whether you use the 

standard meal allowance or actual 

expenses, you may only claim a 

deduction for 50 percent of the unreimbursed cost of your meals while 

you are traveling.

The Cost of Doing Business Organize Travel 

and Business Expenses

www.IRS.gov/smallbiz

See IRS Publication 463, Travel, 

Entertainment, Gift, and Car Expenses, and 

Publication 535, Business Expenses.
Sunday Monday Tuesday Wednesday Thursday Friday Saturday

Employers: Employees are 

required to report to you tips of $20 

or more earned during April.

File Form 941 if you timely 

deposited all required payments

Deposit payroll tax for April if the 

monthly deposit rule applies. 

Deposit Payroll tax for payments 

on May 14-16 if the semiweekly 

deposit rule applies

Deposit Payroll tax for payments 

on May 17-20 if the semiweekly 

deposit rule applies.

 June

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22 23 24 25 26 27 28

29 30

 April

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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

Payroll tax for payments on 

May 7-9 if the semiweekly 

deposit rule applies.

Memorial Day Payroll tax for payments on 

May 21-23 if the semiweekly 

deposit rule applies.

May 2008

Stay on 

Track

Visit 

www.IRS.gov/

smallbiz

for guidance on the 

new IRS Attributed Tip 

Income Program (ATIP) 

available for the food 

and beverage industry.

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“One important key to success is self confidence. An important key

to self confidence is preparation.” — Arthur Ashe, tennis player

Deposit Payroll tax for payments 

on Apr 26-29 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Apr 30 - May 2 if the 

semiweekly deposit rule applies.

Deposit Payroll tax for payments 

on May 3-6 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on May 10-13 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on May 24-27 if the semiweekly 

deposit rule applies.

Watch Tax Talk Today, 2 p.m. ET
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.

Ingredients for Success Show us the Records

www.IRS.gov/smallbiz

Also, if you transfer some of your 

personal funds into your business account 

as a “loan” to the business, make a record 

of the transaction to avoid mistakenly 

including the money in your taxable 

business income.

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 

may take deductions based only on the 

business use portion of the property. 

Certain types of property may never be 

depreciated. For example, you may not 

depreciate the cost of land because it 

does not wear out or become obsolete. 

The cost of inventory does not qualify 

for the depreciation deduction, either 

because it will be accounted for as part 

of Cost of Goods Sold deduction.

Intangible property is generally any 

property that can’t be seen or touched, 

such as copyrights, franchises, and 

patents. Certain types of intangible 

property cannot be depreciated but must 

be amortized instead.

To see if you can claim depreciation 

deductions, refer to Form 4562,

Depreciation and Amortization, and its 

instructions. You may be able to deduct 

all or part of the cost of certain qualifying 

property used in your business in the year 

you placed it in service by claiming a 

section 179 deduction, Election to Expense 

Certain Business Assets. 

If you acquire and place in service more 

than one item of qualified property 

during the year, you can allocate the 

section 179 deduction among the items in 

any way, as long as the total deduction 

does not exceed the specified limits.

See IRS Publication 946, How to 

Depreciate Property and Publication 535,

Business Expenses.

out this year’s return. Don’t overlook 

deductions for which you qualify.

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.

See IRS Publication 583, Starting a 

Business and Keeping Records.

Take Stock of Your Possessions

Over time, business equipment ages, 

deteriorates, or becomes obsolete. You 

can regain a portion of your cost for 

certain property by taking depreciation 

deductions. To claim depreciation, the 

property must be used in your business 

or income-producing activity, must have 

a determinable useful life of more than 

one year, and must be property you own. 

The depreciation deduction begins when 

you place the property in use as a business 

asset and ends when you retire it from 

service. Additionally, when the entire 

asset cost has been recovered before the 

asset is retired, depreciation will stop. 

The kind of property impacts how a 

depreciation deduction is claimed. 

Property falls into two categories:

Tangible property can be seen or 

touched, such as buildings, cars, 

machinery, or equipment. If you own 

tangible property that you use for both 

personal and business purposes, you 
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File Form 730 and pay the tax on 

wagers accepted during April.

File Form 2290 and pay the tax 

for vehicles first used in April.

Deposit Payroll tax for payments 

on Jun 4-6 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Jun 7-10 if the semiweekly 

deposit rule applies.

Employers: Employees are 

required to report to you tips of 

$20 or more earned during May.

Deposit Payroll tax for payments 

on Jun 18-20 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Jun 21-24 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for May if the 

monthly deposit rule applies.

Individuals outside the U.S.: File 

Form 1040.

Individuals: Make a payment of your 

2008 estimated tax.

Corporations: Deposit the second 

installment of your estimated tax for 

2008. 

File Form 730 and pay the tax on 

wagers accepted during May.

File Form 2290 and pay the tax 

for vehicles first used in May.

 July

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27 28 29 30 31

 May

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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

June 2008

Learn the 

Laws

Learn about business 

taxes on your own 

time – at your own 

pace! Visit the 

Online Learning and 

Educational Products 

Web site at 

www.IRS.

gov/smallbiz.

Help us help you and other small businesses. Please take a few 

minutes to give us your feedback so we can continue to improve this 

calendar. http://216.12.134.241/rateourproducts/survey_calendar.aspx

Deposit Payroll tax for payments 

on May 28-30 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on May 31-Jun 3 if the 

semiweekly deposit rule applies.

Deposit Payroll tax for payments 

on Jun 11-13 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Jun 14-17 if the semiweekly 

deposit rule applies.
IRS E-file for Business and SelfEmployed Taxpayers

IRS e-file has become the most-used 

option for filing individual and business 

tax returns. Within 48 hours the IRS will 

confirm receipt of your return. E-filers 

receive refunds in about half the time as 

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 can also e-file your federal 

and state returns at the same time.

Helpful e-file forms include:

• Employment taxes – Forms 940, 941, 

and 944

• Partnerships – Form 1065 and Form 

1065-B

• Estates and trusts – Form 1041

• Information returns – Forms 1042-S, 

1098, 1099, 5498, 8027, and W-2G

• Corporations – Forms 1120 and 1120-S

• Excise tax – Form 720

• Heavy Highway Vehicle Tax – Form 

2290

• Charities and non-profits – Forms 

990, 990-EZ, 990-N, 990-PF, and 

1120-POL

• Extensions of Time To File - Forms 

7004 and 8868

Methods to Electronically File your 

Employment Taxes include:

• Using an authorized IRS e-file 

provider;

• Using a payroll service provider 

(reporting agent); or

• Using a third-party transmitter.

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:

• Form 720, Quarterly Federal Excise Tax 

Return;

• Form 940, 941, and 944 tax forms;

• 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);

• 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 4947(a) (1) 

Nonexempt Charitable Trust Treated as a 

Private Foundation and Form 1120-POL.

New Technology and Innovation Move out of

the 1990’s

www.IRS.gov/smallbiz

• Payments can also be made for 

penalties related to Form 1065 and 

Form 1065-B, partnership returns. 

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.

Electronic Federal Tax Payment System 

(EFTPS) 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 for every transaction as a 

receipt. You also get a 16-month 

payment history online.

Express Enrollment for New Businesses 

and Required Taxpayers

Any new business taxpayer who requests 

a new EIN (Employee Identification 

Number) and has federal tax deposit 

obligations is pre-enrolled in EFTPS.

Express Enrollment for FTD Coupon 

Payers

A percentage of business taxpayers 

who previously used FTD coupons are 

pre-enrolled in EFTPS to make their 

payments electronically. They will 

not receive additional coupons. A 

percentage of current FTD Coupon 

payers are also automatically preenrolled in EFTPS to make all their 

federal payments electronically. They 

will be sent a mailing containing an 

EFTPS PIN (Personal Identification 

Number) and instructions for activating 

their enrollment. FTD coupons will no 

longer be automatically mailed.

To enroll or for additional information, 

visit www.eftps.gov or call EFTPS Customer 

Service at 800-555-4477, 800-733-

4829 (TDD), or 800-244-4829 

(Spanish).
Sunday Monday Tuesday Wednesday Thursday Friday Saturday

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Independence Day

Employers: Employees are 

required to report to you tips of 

$20 or more earned during June.

Deposit Payroll tax for payments 

on Jul 19-22 if the semiweekly 

deposit rule applies.

 August

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31

 June

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29 30

IRS Tax Forum (Atlanta), Jul 1-3

Occupational excise taxes: File 

Form 11-C to register and pay the 

annual tax if you are in the 

business of taking wagers

Deposit Payroll tax for June if the 

monthly deposit rule applies.

July 2008

Seek Help

An e-file Provider 

can help you zip 

through your tax filing. 

Find an Authorized 

IRS e-file Provider at

www.IRS.

gov/smallbiz.

Deposit FUTA owed through June if more than $500.

File Form 720 for the 2nd quarter of 2008.

File Form 730 and pay the tax on wagers accepted during June.

File Form 941 for the 2nd quarter of 2008. 

File Form 2290 and pay the tax for vehicles first used in June.

Employers: File Form 5500 or 5500-EZ for 2007. File Form 5558 to request extension to file Forms 5500 

or 5500-EZ.

“The power of taxing people and their property is essential to

the very existence of government.’’ — James Madison, U.S. President

IRS Tax Forum (Atlanta), Jul 1-3

Deposit Payroll tax for payments 

on Jun 25-27 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Jun 28-July 1 if the 

semiweekly deposit rule applies.

Deposit Payroll tax for payments 

on Jul 2-4 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Jul 5-8 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Jul 9-11 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Jul 12-15 if the semiweekly 

deposit rule applies.

IRS Tax Forum (Chicago), 

Jul 22-24

Deposit Payroll tax for payments 

on Jul 16-18 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Jul 23-25 if the semiweekly 

deposit rule applies.

Watch Tax Talk Today, 2 p.m. ET

IRS Tax Forum (Chicago), 

Jul 22-24

IRS Tax Forum (Atlanta), Jul 1-3

IRS Tax Forum (Chicago), 

Jul 22-24
One problem many new business owners 

encounter is not budgeting enough 

money for taxes. Better to gather your 

records and file your tax forms by their 

due dates—even if you can’t pay the full 

amount. Even partial payments will help 

reduce interest and penalties accruing. 

If you are still unable to pay at the next 

due date, continue to file your return on 

time to avoid the failure-to-file penalty. 

Attach an Installment Agreement 

Request (Form 9465) and propose your 

own monthly payment date and amount. 

If circumstances make it unlikely that 

you could pay the full tax even on an 

installment plan, ask for a copy of 

Publication 594, What You Should Know 

About the IRS Collection Process. This 

publication lists alternative methods for 

resolving your account.

Note: The failure-to-pay penalty may be 

reduced from .5 percent to .25 percent 

per month during the period in which 

an individual installment agreement is 

in effect. However, you must have filed 

on time.

The Do-It-Yourself Social Security 

Program

For most employees, social security and 

Medicare taxes are deducted per 

paycheck to support retirement income 

and Medicare coverage. Self-employed 

taxpayers, however, pay for coverage 

through the self-employment tax you 

annually compute and pay with your 

federal income 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 selfemployed. Part-time work can qualify as 

self-employment even if it’s work you do 

in addition to a regular full-time job. 

The maximum amount of net earnings 

subject to the social security part of the 

self-employment tax for tax years 

beginning in 2007 has increased to 

$97,500. All net earnings of at least 

$400 are subject to the Medicare part of 

the tax. 

In most cases, self-employment income 

does not include interest, dividends, 

capital gains, or rent from real estate. 

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 

you determine how much estimated tax 

to pay each quarter. When you file your 

tax return, you must fill out Schedule 

SE to report your self-employment 

income and calculate your selfemployment tax due.

Life in the Fast Lane Plan for Business 

Success

www.IRS.gov/smallbiz
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31

Employers: Employees are 

required to report to you tips of 

$20 or more earned during July.

File Form 941 if you made timely 

deposits of all taxes due. 

Deposit Payroll tax for July if the 

monthly deposit rule applies.

Deposit Payroll tax for payments 

on Aug 9-12 the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Aug 23-26 if the semiweekly 

deposit rule applies.

 September

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7 8 9 10 11 12 13

14 15 16 17 18 19 20

21 22 23 24 25 26 27

28 29 30

IRS Tax Forum (New York), 

Aug 26-28

Deposit Payroll tax for payments 

on Aug 20-22 if the semiweekly 

deposit rule applies.

 July

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13 14 15 16 17 18 19

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27 28 29 30 31

August 2008

Train Your 

Team

The Small Business 

Resource Guide,

Publication 3207, 

is a CD-ROM with 

valuable information 

on business tax forms, 

tax publications, 

government agencies, 

non-profit organizations, 

and educational 

institutions. Order 

online at 

www.IRS.gov/smallbiz

or call 800-829-3676.

“Few of us ever test our powers of deduction, except when

filling out an income tax form.” — Laurence J. Peter, author

Deposit Payroll tax for payments 

on Jul 26-29 if the semiweekly 

deposit rule applies.

IRS Tax Forum (Orlando), 

Aug 5-7

Deposit Payroll tax for payments 

on Jul 30-Aug 1 if the 

semiweekly deposit rule applies.

Deposit Payroll tax for payments 

on Aug 2-5 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Aug 6-8 if the semiweekly 

deposit rule applies.

IRS Tax Forum (Las Vegas), 

Aug 19-21

Deposit Payroll tax for payments 

on Aug 13-15 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Aug 16-19 if the semiweekly 

deposit rule applies.

IRS Tax Forum (Orlando), 

Aug 5-7

IRS Tax Forum (Las Vegas), 

Aug 19-21

IRS Tax Forum (New York), 

Aug 26-28

IRS Tax Forum (Orlando), 

Aug 5-7

IRS Tax Forum (Las Vegas), 

Aug 19-21

IRS Tax Forum (New York), 

Aug 26-28
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 

give the IRS, 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.

Do you believe that an IRS employee has 

not treated you in a professional, fair, 

and courteous manner? Then you 

should contact that employee’s 

supervisor. If the supervisor’s response 

is unsatisfactory, you may write to the 

IRS Center where you filed your return 

(see www.IRS.gov/smallbiz, under Contact 

My Local Office).

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. If you are in an 

interview and ask to consult such a 

Know your Options Protecting Your Rights 

www.IRS.gov/smallbiz

person, then, in most cases, IRS must 

stop and reschedule the interview. 

You may have someone accompany you 

to an interview. You may make sound 

recordings of any meetings with 

Examination, Appeals, or Collection 

personnel, provided you inform the IRS 

in writing 10 days before the meeting.

Examinations

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 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. 

Three Appeals Online Self-Help Tools 

are available on www.IRS.gov to assist you 

in focusing on your area of dispute, help 

you determine if you can benefit from 

filing an appeal, and help to prepare an 

appeal that is appropriate and complete. 

These tools are for innocent spouse relief, 

rejection of penalty abatement, and 

rejection of an Offer in Compromise. 

Collections

Payment of Only the Correct Amount 

of Tax

You are responsible for paying only the 

correct amount of tax due under the law 

— no more, no less. If you can’t pay all 

of 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, What You Should Know 

about 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 that the IRS 

may take.

Help from the Taxpayer Advocate 

Service 

The Taxpayer Advocate Service (TAS) is 

an independent organization within the 

IRS created to assist taxpayers seeking 

help in resolving tax problems resolved 

through normal channels, or who 

believe that an IRS system or procedure 

is not working as it should. To contact 

the TAS call toll free 877-777-4778 

(800-829-4059 for TTY/TDD) or visit 

the Web site www.IRS.gov/advocate to see 

if you are eligible for assistance.

See IRS Publication 1, Your Rights as a 

Taxpayer.
Sunday Monday Tuesday Wednesday Thursday Friday Saturday

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

File Form 730 and pay the tax on 

wagers accepted during July.

File Form 2290 and pay the tax 

for vehicles first used in July.

Labor Day

 October

 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

 August

 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

IRS Tax Forum (San Diego), 

Sep 9-11

Deposit Payroll tax for payments on 

Sep 3-5 if the semiweekly deposit 

rule applies.

Employers: Employees are 

required to report to you tips of $20 

or more earned during August.

Individuals: Pay the third installment of your estimated tax for 2008.

Corporations: File 2007 tax return and pay if you timely requested an 

automatic extension. Deposit third installment of your 2008 estimated tax.

S Corporations: File 2007 tax return and pay if you timely requested an 

automatic extension. Deposit Payroll tax for August if the monthly deposit 

rule applies.

File Form 730 and pay the tax on 

wagers accepted during August.

File Form 2290 and pay the tax 

for vehicles first used in August.

September 2008

Accept 

Assistance

The Business and 

Specialty Tax Line 

assists small 

businesses, 

small corporations, 

partnerships, and 

trust customers 

with business returns 

and accounts. 

Call 800-829-4933 

for assistance.

Help us help you and other small businesses. Please take a few 

minutes to give us your feedback so we can continue to improve this 

calendar. http://216.12.134.241/rateourproducts/survey_calendar.aspx

Deposit Payroll tax for payments 

on Aug 27-29 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Aug 30-Sep 2 if the 

semiweekly deposit rule applies.

Deposit Payroll tax for payments 

on Sep 10-12 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Sep 13-16 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Sep 17-19 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Sep 20-23 if the semiweekly 

deposit rule applies.

IRS Tax Forum (San Diego), 

Sep 9-11

Watch Tax Talk Today, 2 p.m. ET

IRS Tax Forum (San Diego), 

Sep 9-11

Deposit Payroll tax for payments 

on Sep 6-9 if the semiweekly 

deposit rule applies.
By computer, phone, mail, or face-toface IRS is available 24/7 with products 

and services 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. Remember most 

of these services are free.

 Publication 3207, Small Business Resource 

Guide CD-ROM is a must for every small 

business owner or anyone considering 

starting a business.

The CD is designed to make finding 

information easy by incorporating file 

formats and browsers adaptable to 

almost any desktop or laptop computer.

This year’s CD includes:

• All the tax forms, instructions, and 

publications needed to understand 

and meet business tax responsibilities.

• Essential startup information needed 

to plan and successfully operate a new 

business. 

• Updates of current year tax law 

changes.

• Tax Map, an electronic research tool.

• Web links to various government 

agencies, professional associations, 

and IRS organizations.

• Updated versions of this CD are 

usually available in early April of 

each year.

• Free copies of this and other IRS CD/

DVD are available by calling 1-800-

829-3676 or by visiting www.IRS.gov/

smallbiz.

IRS Tax Forms and Publications CD

The CD containing current and prior 

year tax forms and publications, can be 

purchased from the National Technical 

Information Service (NTIS). Order the 

CD by calling toll free 1-877-233-6767 

or at www.IRS.gov/cdorders. 

The Business and Specialty Tax Line

The Business and Specialty Tax Line is 

available at 1-800-829-4933. 

A Winning Recipe Small Business Help from 

the IRS

www.IRS.gov/smallbiz

This help line 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 (EIN) 

and questions 

about various 

business forms 

(around 940 

through W-4); 

excise tax returns; 

940/941, 943, 

944, 945, 1041, 1065,1120S, W-2 and 

W-4s. Plus excise tax, estate and gift 

tax returns, and Federal Tax Deposits.

The Small Business Web Site 

Starting, operating, or closing a 

business? Visit the Small Business and 

Self-Employed one-stop resource at 

www.IRS.gov/smallbiz and find help with:

Starting a new business and selecting a 

business structure.

Operating a business with employees.

Researching business deductions and 

credits, recordkeeping and accounting 

methods.

Also available are online versions of the 

Tax Calendar for Small Businesses and 

Self-Employed, Tax Topics for 

Businesses, and Frequently Asked 

Questions. 

Indian Tribal Governments (ITG)

The office of Indian Tribal Governments 

(ITG) at the IRS was established as a 

resource to help Indian tribes understand 

and address their federal tax matters. 

The ITG office provides a single point of 

contact for assistance and service. Five 

field groups provide primary frontline 

service and are aligned to respect tribal 

affiliations wherever possible. These 

field groups consist of tribal government 

specialists who work in locations near the 

seats of tribal governments and assist 

with issues that may relate to tribal 

governments as employers, distributions 

to tribal members, and the establishment 

of governmental programs, trusts, and 

businesses. 

Visit us at www.IRS.gov/tribes to locate the 

office nearest you.

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 about the 

2008 Tax Calendar for Small Businesses 

and Self-Employed by taking a few 

moments out of your busy day to 

complete a brief survey at www.IRS.gov/

smallbiz(click on “Rate Our Products”).
Sunday Monday Tuesday Wednesday Thursday Friday Saturday

Deposit Payroll tax for payments 

on Oct 4-7 if the semiweekly 

deposit rule applies.

Employers: Employees are 

required to report to you tips of 

$20 or more earned during 

September.

Columbus Day

Deposit Payroll tax for payments 

on Oct 22-24 if the semiweekly 

deposit rule applies.

 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

 September

 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

October 2008

Plan 

Payments

Visit www.eftps.gov

for more information 

on the Electronic 

Federal Tax Payment 

System (EFTPS).

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

“Why does a slight tax increase cost you two hundred dollars and a

substantial tax cut save you thirty cents?’’ — Peg Bracken, author

Deposit Payroll tax for 

payments on Sep 24-26 if the 

semiweekly deposit rule 

applies.

Deposit Payroll tax for 

payments on Sep 27-30 if the 

semiweekly deposit rule 

applies.

Deposit Payroll tax for 

payments on Oct 1-3 if the 

semiweekly deposit rule 

applies.

Deposit Payroll tax for 

payments on Oct 8-10 if the 

semiweekly deposit rule 

applies.

Deposit Payroll tax for 

payments on Oct 11-14 if the 

semiweekly deposit rule 

applies.

Deposit Payroll tax for payments 

on Oct 15-17 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Oct 18-21 if the semiweekly 

deposit rule applies.

File Form 730 and pay the tax on 

wagers accepted during September.

File Form 2290 and pay the tax for 

vehicles first used in September.

File Form 941 is you did not deposit 

all taxes when due.

Deposit Payroll tax for payments on 

Oct 25-28 if the semiweekly deposit 

rule applies.

Deposit Payroll tax for September if the 

monthly deposit rule applies.

Individuals: If you filed a Form 4868 

requesting an automatic 6-month 

extension of time to file, file a 2007 

calendar year return (Form 1040, 

1040-A or 1040-EZ).

Partnerships: File your 2007 tax return 

if you were given a 6-month extension.

Watch Tax Talk Today, 2 p.m. ET

(tentative)
IRA, SEP, SIMPLE, and 401(k) Plans

Whether your 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 401(k). In addition to providing 

for your retirement, they may offer 

significant tax benefits today.

Individual Retirement Arrangement (IRA)

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 IRAs. You can set up this 

IRA if you are under age 701⁄2 at the end 

of the 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 591⁄2 

without paying income taxes and a 10 

percent additional tax.

Roth IRA. 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. 

Self-employed people can participate in 

the following three plans even if their 

spouses are covered by a plan.

Simplified Employee Pension (SEP)

The 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.

Savings Incentive Match Plan for 

Employees (SIMPLE)

Generally, you, as an employer, can set 

up a SIMPLE plan if you 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 account. 

Additionally, employees can make salary 

reduction contributions. The two types 

of SIMPLE plans are the SIMPLE 

IRA and SIMPLE 401(k) plans. For 

additional information, see Publication 

4334, SIMPLE IRA Plans for Small 

Businesses.

401(k) Plans

401(k) plans are the most popular type 

of retirement plan used today. They 

can be a powerful tool in promoting 

financial security in retirement and 

are a valuable option for businesses 

considering a retirement plan, 

providing benefits to employees and 

their employers. Employees may defer a 

portion of their salary as either a pre-tax 

or after-tax employee contribution. As 

with IRAs, there are different kinds of 

401(k) plans. Depending on the type 

of 401(k) plan, the employer can 

make either non-elective or matching 

employer contributions. For additional 

information, see Publication 4222,

401(k) 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 Solution 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 

www.IRS.gov/ep, click on “Plan Sponsor/

Employer,” then “Retirement Plan 

FAQs, FYIs, Tips and Tools” and select 

“Retirement Plan Check-Ups.”

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).

The Big Picture Plan Your Employees’ 

Future Today

www.IRS.gov/smallbiz
Sunday Monday Tuesday Wednesday Thursday Friday Saturday

1

2 3 4 5 6 7 8

9 10 11 12 13 14 15

30

23 24 25 26 27 28 29

16 17 18 19 20 21 22

Employers: Employees are 

required to report to you tips of 

$20 or more earned during 

October.

File Form 941 if you timely 

deposited all required payments.

Veteran’s Day

Deposit Payroll tax for October if 

the monthly deposit rule applies.

 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

 October

 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

Deposit Payroll tax for payments 

on Nov 8-11 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Nov 19-21 if the semiweekly 

deposit rule applies.

Thanksgiving Day

Deposit Payroll tax for payments on 

Nov 5-7 if the semiweekly deposit 

rule applies.

November 2008

Future 

Preparation

For information on 

all sorts of retirement 

plan issues, visit 

www.IRS.gov/ep.

For Cost of Living 

Adjustment (COLA) 

increases, visit 

www.IRS.gov/ep.

“Great work is done by people who are not afraid

to be great.” — Fernando Flores, entrepreneur

Deposit Payroll tax for payments 

on Oct 29-31 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Nov 1-4 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Nov 12-14 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Nov 15-18 if the semiweekly 

deposit rule applies.

Ask employees whose withholding allowances will be 

different in 2009 to fill out a new Form W-4.

Ask employees who want to receive advanced earned 

income credit payments during 2009 to complete Form W-5.
Closing a Business: 

Checklist of Owner Responsibilities

Going Out of Business 

Sometimes for reasons both planned and unplanned, 

businesses close. The IRS is here to help guide you through 

all the cycles of operating a business including “going out 

of business.” IRS provides both checklists and important 

addresses to make the process a little easier.

Steps to Take:

Notify the IRS. 

Submit the appropriate forms to IRS.

Submit Change of Address Form 8822, available athttp://www.

IRS.gov/pub/irs-pdf/f8822.pdf, to the IRS center to which you 

sent your business returns.

Please include your Employer Identification Number (EIN).

• Cincinnati IRS Center

Cincinnati, OH 45999

• Ogden IRS Center

MS:6273

Ogden, UT 84207

Attn: BMF Entity Control Unit

• Outside US:

Philadelphia IRS Center

Philadelphia, PA 19255

The following checklist highlights the typical final forms and 

schedules you may need to file depending on your type of 

business structure if you ever go out of business. For more 

information, see the instructions for the listed forms.

Going Out Of Business: Typical Final Forms and Schedules

Wrapping it Up Identify Your Needs

www.IRS.gov/smallbiz

IF you are liable for: THEN you may need to: 

Income tax 

File Schedule C or C-EZ with your Form 1040 for the year in which you go out 

of business. 

File Form 4797 with your Form 1040 for each year in which you sell or exchange 

property used in your business or in which the business use of certain section 179 

or listed property drops to 50% or less. 

File Form 8594 with your Form 1040 if you sold your business. 

Self-employment tax File Schedule SE with your Form 1040 for the year in which you go out of business. 

Employment taxes 

File Form 941 (or Form 944) for the calendar quarter in which you make final wage 

payments. Note: Do not forget to check the box and enter the date final wages were 

paid on line 16 of Form 941 or line 15 of Form 944. 

File Form 940 for the calendar year in which final wages were paid. Note. Do not 

forget to check the box, If you will not have to file returns in the future..., under 

Question D. 

Information returns 

Provide Forms W-2 to your employees for the calendar year in which you make final 

wage payments. Note: These forms are generally due by the due date of your final 

Form 941 or Form 944. 

File Form W-3 to file Forms W-2. Note. These forms are generally due within 

1 month after the due date of your final Form 941 or Form 944. 

Provide Forms 1099-MISC to each person to whom you have paid at least $600 for 

services (including parts and materials) during the calendar year in which you go out 

of business. 

File Form 1096 and Form 1099-MISC.
Sunday Monday Tuesday Wednesday Thursday Friday Saturday

File Form 730 and pay the tax on wagers accepted 

during October.

File Form 2290 and pay the tax for vehicles first 

used in October.

Deposit Payroll tax for payments on Nov 22-25 if the 

semiweekly deposit rule applies.

Deposit Payroll tax for payments 

on Dec 3-5 if the semiweekly 

deposit rule applies.

Employers: Employees are 

required to report to you tips of 

$20 dollars or more earned 

during November.

Christmas Day

Deposit Payroll tax for payments 

on Dec 6-9 if the semiweekly 

deposit rule applies. 

 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

 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

File Form 730 and pay the tax on wagers accepted 

during November.

File Form 2290 and pay the tax for vehicles first 

used in November.

Deposit Payroll tax for payments on Dec 24-26 if 

the semiweekly deposit rule applies.

Deposit Payroll tax for payments 

on Dec 20-23 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for November 

if the monthly deposit rule applies.

Corporations: Deposit the fourth 

installment of your estimated tax 

for 2008. 

December 2008

Business 

Assistance

For information on 

small business 

workshops, industry 

trends, news alerts, and 

links to small business 

resources, visit 

www.IRS.gov/

smallbiz.

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

Help us help you and other small businesses. Please take a few 

minutes to give us your feedback so we can continue to improve this 

calendar. http://216.12.134.241/rateourproducts/survey_calendar.aspx

Deposit Payroll tax for payments 

on Nov 26-28 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Nov 29- Dec 2 if the 

semiweekly deposit rule applies.

Deposit Payroll tax for payments 

on Dec 10-12 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Dec 13-16 if the semiweekly 

deposit rule applies.

Deposit Payroll tax for payments 

on Dec 17-19 if the semiweekly 

deposit rule applies.

Watch Tax Talk Today, 2 p.m. ET

(tentative)
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 toll free at 

800-772-6270. For answers to more 

technical questions, employer service 

liaison officers are available around the 

country by calling 800-772-6270.

Other Services Available

Form W-2 Filing Information

Each year, employers must send Copy A 

of Forms W-2 with Form W-3 to the 

Social Security Administration (SSA) 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. 

The entire wage reporting information 

and publications they need to meet their 

wage reporting responsibilities is now 

online at www.socialsecurity.gov/employer.

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 Web site:

1. W-2 Online – You can complete up 

to 20 Forms W-2 right 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.

2. W-2C Online – This service is 

similar to W-2 Online, except it allows 

you to complete up to 20 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 Social Security.

3. Upload a Wage Report – You can 

upload a wage report file formatted 

according to Social Security’s Magnetic 

Media Reporting and Electronic Filing 

for Tax Year 2004 specifications. This 

option is ideal for any size filer. 

To get started simply go to www.

socialsecurity.gov/employer and select 

“Business Services Online.” (You will 

need to register for a Personal 

Identification Number (PIN) and 

password by selecting registration and 

following the instructions. A PIN will 

be provided immediately after 

completing the registration process. A 

password will be mailed in approximately 

two weeks.) Select “Login” and enter 

your PIN and password. 

Third-party preparers need only register 

one time in their firm’s name. 

December is the preferred month to 

register. Social Security usually begins 

accepting electronic submissions the 

first week in January.

Get more information on filing W-2s 

online in the Business Services Online 

Handbook. Go to www.socialsecurity.gov/

employer and click on “E-Filing Handbook” 

or call 800-772-6270.

Verifying Employee 

Names and Social 

Security Numbers 

(SSNs)

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 that 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 (EVS) 

easily identifies 

inaccurate name 

and SSN 

combinations 

so they can be 

corrected before 

you submit your W-2s to SSA. There 

are three convenient ways to use the 

service:

Less than 5 Names – Call 800-772-

6270. For each name and SSN you want 

verified, have ready the following 

information when you call: SSN, last 

name, first name, middle initial (if 

applicable), date of birth, gender. Also 

have available the employer name and 

EIN (Employer Identification Number).

Successful Business Tips Business Tips for

Success

www.IRS.gov/smallbiz
Less than 50 Names – Contact your 

nearest Social Security Office. You can 

locate their address on the Internet at 

www.ssa.gov, or by calling 800-772-1213.

More than 50 Names – This option is 

ideal for employers who want to verify 

their entire payroll database. You can 

submit your request on paper listing, 

magnetic tape, or diskettes. You must 

register for this service. For details visit 

SSA’s Web site at www.ssa.gov/employer/

ssnv.htm.

Setting the Record Straight with the IRS

If you omit some information from your 

tax return, make an error, or miss a taxfiling 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 IRS. Forms you 

may use to report corrections include:

Form 941, Employer’s Quarterly Federal Tax 

Return. If you make an error in the 

amount of taxes you withheld from 

employees, you can make an adjustment 

on the next return if it is during the 

same calendar year. Attach Form 941C, 

“Supporting Statement to Correct 

Information.”

Form 941C, Supporting Statement to Correct 

Information. Generally, you must fill out 

this form or a similar statement if the 

amount of employee wages you reported 

in a prior period was incorrect. Use this 

form to make adjustments at any time 

within 3 years of the return due date or 

the date the return was filed, whichever 

is later. (For purposes of the statute of 

limitations, the due date of each of the 

Forms 941 filed during a tax year is April 

15 of the year following the close of that 

tax year.) You may also have to file Form 

W-2C and Form W-3C. Form 941C is 

never filed separately but, instead, is filed 

with another form such as Form 941.

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. 

Forms W-2C and W-3C can now be 

accessed and completed 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 additional 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 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 in with 

the form.

Forms 1099 and 1098. These are 

examples of information returns. Use 

the instructions for making corrections 

that come with the form.

Federal Tax Deposits (FTDs). If you 

are not required to make your deposits 

electronically, be sure to include a Form 

8109 with each deposit you deliver or 

mail to an authorized depository.

A Notice from the IRS: What Should 

You Do? If you get a notice of any kind 

from the IRS, open it, read it, and then 

do something about it. Most notices 

include a deadline for your response, so 

it’s important to be prompt. If you have 

questions about the notice, most notices 

include instructions on how to get more 

information.

The IRS writes to people for many 

reasons. Examples include:

• 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.

Successful Business

Continued

Examples of other notices include:

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.

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 205: You used the wrong taxpayer 

identification number on your FTD 

coupon.

CP 2501: A discrepancy was found 

between what you reported as your 

income, credit, or deduction and what 

the IRS had on file. 

Whether or not you agree with the 

notice, call or write the person listed on 

the notice or call 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. 

The IRS Web site now has information to 

help you better understand some of our 

notices. You can reach the IRS Web site 

at www.IRS.gov.
The IRS produces many free publications 

to assist you. Many IRS publications 

and forms can be downloaded from 

www.IRS.gov or ordered free of charge 

by calling 800-829-3676. You can buy 

a CD-ROM of current and prior year 

tax forms and publications from the 

National Technical Information 

Service (toll free: 877-233-6767 or at 

www.IRS.gov/cdorders). To order forms 

via fax, call 703-368-9694 (not a 

toll-free call).

Pub. 1, Your Rights as a Taxpayer,

explains your rights at each step in the 

examination and collection process.

Pub. 5, Your Appeal Rights and How to 

Prepare a Protest If You Don’t Agree

Pub. 15, Circular E, Employer’s Tax Guide

Also see Forms 940, 941, and 944.

Pub. 15-A, Employer’s Supplemental Tax 

Guide, supplements Circular E and 

contains information on specialized 

topics such as employee classification 

and sick pay.

Pub. 15-B, Employer’s Tax Guide to Fringe 

Benefits

Pub. 51, Circular A, Agricultural Employer’s 

Tax Guide, explains your tax 

responsibilities as an agricultural 

(farm) employer. Also see Form 943.

Pub. 225, Farmer’s Tax Guide, identifies 

the kinds of farm income that must be 

reported and the different deductions 

that can be taken.

Also see Form 1040 (Schedules A, D, F, 

J, SE), 4136, 4562, 4684, and 4797.

Pub. 334, Tax Guide for Small Business 

(For Individuals Who Use Schedule C or CEZ), explains federal tax laws that apply 

to sole proprietorships.

Also see Forms 1040 (Schedules C, 

C-EZ),1040-ES, and 1040-V.

Pub. 463, Travel, Entertainment, Gift, and 

Car Expenses

Also see Forms 2106 and 2106-EZ.

Pub. 505, Tax Withholding and Estimated 

Tax, discusses the two methods of 

paying federal taxes by individuals: tax 

withholding and estimated tax. It also 

explains how taxpayers can take credit 

on their returns for withheld and 

estimated taxes.

Also see Forms 1040-ES, 2210, 2210-F, 

W-4, and W-4P.

Pub. 509, Tax Calendars for 2008,

contains three tax calendars (general, 

employer’s, and excise) and lists specific 

due dates for filing tax forms, paying 

taxes and taking other required actions.

Pub. 510, Excise Taxes for 2007,covers 

in detail the various federal excise taxes 

reported on Forms 11-C, 720, and 730. 

Also see Forms 11-C, 637, 720, 730, 

6197, 6627, and 8849.

Pub. 531, Reporting Tip Income

Pub. 535, Business Expenses

Also see Form 1045.

Pub. 536, Net Operating Losses for 

individuals, estates, and trusts 

Also see Form 1045.

Pub. 537, Installment Sales

Also see Form 6252.

Pub. 538, Accounting Periods and Methods

Also see Forms 1128 and 3115.

Pub. 541, Partnerships

Also see Form 1065 and 1065 (Schedule 

K-1).

Pub. 542, Corporations

Also see Forms 1120, 1120-A, and 1120-S.

Pub. 544, Sales and Other Dispositions 

of Assets

Also see Forms 1040 (Schedule D), 

4797, and 8824.

Pub. 547, Casualties, Disasters, and Thefts 

(Business and Non-Business)

Also see Forms 4684 and 4797.

Pub. 551, Basis of Assets

Pub. 552, Recordkeeping for Individuals

Pub. 553, Highlights of 2006 Tax Changes, 

highlights tax law changes that take 

effect in 2006, 2007, and later years. 

Pub. 556, Examination of Returns, Appeal 

Rights, and Claims for Refund

Also see Forms 843,1040-X, 2848, 

4506, 8379, and 8857.

Pub. 557, Tax-Exempt Status for Your 

Organization

Also see Forms 990, 990-EZ, 990-PF, 

1023, and 1024.

Pub. 560, Retirement Plans for Small Business

Also see Forms 5305-SEP, 5304-

SIMPLE, 5305-SIMPLE, and 5500-EZ.

Pub. 564, Mutual Fund Distributions 

Also see Forms 1040 (Schedules B, D) 

and 1099-DIV.

Pub. 575, Pension and Annuity Income

Also see Forms 1040, 1040A, 1099-R, 

and 4972.

Pub. 583, Starting a Business and Keeping 

Records

Also see Forms SS-4, 940, 941, 944, 

and 1040 (Schedules C, C-EZ, F, and 

SE).

Pub. 587, Business Use of Your Home

Also see Form 8829.

Pub. 590, Individual Retirement Arrangements 

(IRAs)

Also see Forms 1040, 1040-A, 1099-R, 

5329, and 8606.

Pub. 594, What You Should Know About the 

IRS Collection Process

Pub. 595, Capital Construction for 

Commercial Fishermen, is intended for 

sole proprietors who use Form 1040 

(Schedule C or C-EZ) to report a profit 

or loss from fishing.

Also see Forms 1040 (Schedules C, 

C-EZ) and 1099-MISC.

Pub. 598, Tax on Unrelated Business Income 

of Exempt Organizations

Also see Form 990-T.

Pub. 908, Bankruptcy Tax Guide

Also see Forms SS-4, 982, 1041, and 

1041-ES.

Pub. 910, IRS Guide to Free Tax Services

Publications Forms and Publications

www.IRS.gov/smallbiz
Pub. 925, Passive Activity and At-Risk Rules,

Also see Forms 4952, 6198, 8582, 

8582-CR, and 8810.

Pub. 939, General Rule for Pensions and 

Annuities

Also see Form 1099-R.

Pub. 946, How to Depreciate Property

Also see Form 4562.

Pub. 947, Practice Before the IRS and Power 

of Attorney

Also see Forms 2848 and 8821.

Pub. 954, Tax Incentives for Distressed 

Communities, is a publication for business 

owners who want to find out if they 

qualify for certain tax incentives designed 

to help empowerment zones, enterprise 

communities, renewal communities, and 

other distressed communities.

Also see Forms 3800, 5884, 8844, 

8845, 8850, 8860, and 8861.

Pub. 966, The Secure Way to Pay Your Federal 

Taxes, is a thorough overview of EFTPS 

for both businesses and individuals. 

This publication is also available in 

Spanish (Pub 966-SP).

Pub. 971, Innocent Spouse Relief

Also see Form 8857.

Pub. 1244, Employee’s Daily Record of Tips 

and Report of Tips to Employer, is a handy 

record that employees receiving tip 

income may use to document their daily 

tips and report them to their employer.

Also see Forms 1040, 4070, 4070-A, 

and 4137.

Pub. 1542, Per Diem Rates (For Travel 

Within the Continental United States).

Pub. 1544, Reporting Cash Payments of Over 

$10,000 (Received in a Trade or Business)

Also see Form 8300.

Pub. 1546, The Taxpayer Advocate Service of 

the IRS – How to Get Help with Unresolved Tax 

Problems

Pub. 1779, Independent Contractor or 

Employee brochure

Pub. 2105, Why Do I Have to Pay Taxes?

Pub. 3066, Have You Had Your Check-Up 

This Year?... for 401(k) Retirement Plans, a 

tri-panel pamphlet designed to inform 

and encourage employers to perform a 

periodic “check-up” of their 401(k) 

retirement plan through the use of a 

checklist (Pub. 4531) and how to initiate 

corrective actions if necessary.

Pub. 3207, Small Business Resource Guide 

CD-ROM

Pub. 3611, E-File Electronic Payments 

Brochure

Pub. 3780, Tax Information for Small 

Construction Businesses

Pub. 3959, EFTPS CD for Tax Practitioners, 

Taxpayers, and Financial Institutions

Pub. 3998, Choosing a Retirement Plan for 

Your Small Business

Also see Forms 5500, 5500-EZ, and 

5558.

Pub. 4048, Penalty Refund Offer,

a 6-panel brochure used to encourage 

taxpayers to enroll in the EFTPS 

Program to receive a special refund 

(if eligible) and avoid future penalties.

Pub. 4118, Lots of Benefits-Retirement Plans 

Life Cycle, is an introductory brochure 

that highlights the benefits of retirement 

plans to both businesses and employees.

Pub. 4131, EFTPS and E-file Fact Sheet

Pub. 4132, EFTPS Online Fact Sheet

Pub. 4169, EFTPS Tax Professional 

Pub. 4222, 401(k) Plans for Small Businesses

Also see Forms 5500, 5500-EZ, and 

5558.

Pub. 4224, Retirement Plan Correction 

Programs, describes the retirement plan 

correction programs offered by the IRS, 

US Department of Labor, and Pension 

Benefit Guaranty Corporation.

Pub. 4284, SIMPLE IRA Retirement Plan 

Checklist

Also see Forms 5500, 5500-EZ, and 

5558.

Pub. 4321, EFTPS Tax Practitioner Folder, 

educates tax professionals on the 

benefits and use of EFTPS. 

Pub. 4333, SEP Retirement Plans for Small 

Businesses

Pub. 4334, SIMPLE IRA Plans for Small 

Businesses

Pub. 4405, Have You Had Your “CheckUp” This Year?...for SIMPLE IRAs, SEPs, 

and Similar Retirement Plans, a tri-panel 

pamphlet designed to inform and 

encourage employers to perform a 

periodic “check-up” of their IRA-based 

retirement plan through the use of 

checklists (Pubs 4284, 4285 and 4286) 

and how to initiate corrective actions if 

necessary.

Pub. 4460, The Retirement Plans Product 

Navigator, highlights many of the 

publications and brochures created 

by the Employee Plans, Customer 

Education and Outreach Division of 

TE/GE and deals with IRA-based 

retirement plans. 

Pub. 4531, 401(k) Plan Checklist

Also see Forms 5500, 5500-EZ, and 

5558.

Pub. 4587, Payroll Deduction IRAs for Small 

Businesses

Pub. 4591, Small Business Federal Tax 

Responsibilities

publications

Continued
IRS Assistance via the Internet

The IRS Web site allows convenient 

access to information 24 hours a day, 

7 days a week. The Web site provides 

everything from information about 

electronic filing and paying to tax 

forms (with instructions), publications, 

and important tax information for 

individuals and businesses. You can 

access the IRS Web site at www.IRS.gov.

The Electronic Federal Tax Payment 

System (EFTPS)

EFTPS is the most secure, accurate, and 

easy to use method to pay all federal taxes – 

including estimated taxes and installment 

payments and replacing paper with Federal 

Tax Deposit (FTD) coupons and vouchers. 

The Department of Treasury provides all 

materials and software for EFTPS free 

of charge. EFTPS also offers taxpayers 

flexible payment options either online or 

by phone.

Taxpayers can make their payments day or 

night – 7 days a week, 24 hours a day. 

EFTPS also allows you to schedule tax 

payments up to 120 days in advance for 

businesses or 365 days in advance for 

individuals. Sixteen months of payment 

history can be viewed online and with each 

transaction an EFTPS Acknowledgement 

Number is provided as a receipt. To 

enroll or receive additional information, 

visit www.eftps.gov or call EFTPS Customer 

Service at 800-555-4477.

TeleTax

TeleTax (800-829-4477) is the IRS tollfree telephone service that provides 

recorded tax information and automated 

refund information. About 150 recorded 

topics provide basic tax information. For 

the directory of topics, listen to topic 123. 

This Touch-Tone service is available 24 

Your Masterpiece is Complete! IRS is Working 

Harder for You

www.IRS.gov/smallbiz

hours a day, 7 days a week. It’s also 

available in Spanish.

Tax Forms and Publications

To order IRS tax forms and publications, 

call 800-829-3676.

Tax Assistance

Individual taxpayers can call 800-829-

1040, Monday through Friday, from 

8:00 a.m. until 8:00 p.m. local time. 

Business taxpayers can call the Business 

and Specialty Tax Line at 800-829-4933.
2009 IRS Tax Calendar

For Small Businesses and Self-Employed

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Publication 1518(Rev. 12-2007)

Catalog Number 12350Z

www.irs.gov

Another innovative product from the Small Business/Self-Employed (SB/SE) Division

www.IRS.gov/smallbiz 

2008 IRS Tax Calendar

For Small Businesses and Self-Employed

small business

isBig Business

to theIRS