CCH Tax News Headlines - December 30, 2008

Hey, now that is good news. It's about time. For everyone's benefit, here is the how to do it section:

Effective for tax year 2009, an employer is eligible to opt out of filing Form 944 if it timely notifies the IRS that it either: (1) anticipates that its employment tax liability for the year will be more than $1,000; or (2) it wants to file electronically quarterly Form 941 for the year. An employer who satisfies one of these conditions must notify the IRS by either calling or writing the IRS before an applicable due date. In the case of an employer who filed a Form 941 or Form 944 for a tax year prior to 2009, a call to opt-out of filing Form 944 must be made on or before April 1, 2009. A written notification by such an employer must be postmarked on or before March 15, 2009."

And on a related note, for those of us who prepare 941, 940, etc for clients, don't forget we have to start signing those suckers starting day after tomorrow.

ChEAR$, Harlan Lunsford, EA n LA