Duty through the eye of the withholder
Article Abstract:
US withholding agents are subject to arbitrary, ambiguous, unreasonably burdensome laws defining their duties and penalities for failure of duties pertaining to the withholding of tax from foreign entities. Agents may impede simple commercial transactions to avoid penalties for undefined mistakes. The IRS is dependent on withholding tax in tax collection, but the rules governing collection penalize agents without clarifying their positions. Therefore, more consistent guidance from Congress or the IRS is necessary.
Publication Name: Taxes: The Tax Magazine
Subject: Business
ISSN: 0040-0181
Year: 1992
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Revised Form 941 reflects news quarterly withholding rules
Article Abstract:
The IRS has issued a revised Form 941 and Form 941 Schedule B for the reporting of withheld income, social security and medicare taxes. The form is printed in red for more accurate and efficient machine processing and follows the new tax deposit rules and wage bases for medicare and social security withholding. Lines one through 19 remain the same with changes in line 20 for the tax deposit rules and the instructions for lines 6a and 7 because of the wage basis. Specific completion directions are included.
Publication Name: Taxes: The Tax Magazine
Subject: Business
ISSN: 0040-0181
Year: 1993
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The Energy Policy Act of 1992: provisions affecting individuals
Article Abstract:
The tax incentives and credit contained in the 1992 Energy Policy Act are funded by increased reporting requirements and withholding which can affect the individual taxpayer. The areas affected include business travel deductions, partnership distributions and corporate instrument issuance. Taxpayers will have to review the Act when planning their taxes because it also changes transportation-related employee fringe benefits by increasing some deductions and limiting others.
Publication Name: Taxes: The Tax Magazine
Subject: Business
ISSN: 0040-0181
Year: 1993
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- Abstracts: Counting the cost of AMT investment. The theory of constraints
- Abstracts: Planning alternatives to the earnings stripping provisions of section 163(j). Proposed section 482 Regs. adopt comparable profit interval requirement
- Abstracts: Learning from the mistakes of the community charge. Revenues chief slams 'contemptuous' Tories. New fears over council tax information powers
- Abstracts: Dutch auction repurchases: an analysis of shareholder heterogeneity. Optimal diversification: reconciling theory and evidence
- Abstracts: Optimal contracting and insider trading restriction. The intraday speed of stock price adjustment to major dividend changes: bid-ask bounce and order flow imbalances