Many components of tax law are indexed each year for inflation, changed when laws are passed, and clarified when the IRS issues notices. After remaining relatively flat from 2010 to 2011, several of the various dollar thresholds have increased for 2012. Your tax planning should consider how the changes may affect your tax situation. Please see the following updates pertaining to changes affecting 2011 and 2012:
Employers are required to have new employees fill out several different forms for the government relating to the employment process and tax withholding. Below are links to the required forms.
To ensure compliance with Treasury Circular 230, we are required to inform you that any advice concerning U.S. federal tax issues contained on this website is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code and was not written to support the promotion or marketing of any transaction or matter discussed herein. Application of tax regulations is specific to the individual or business and we recommend that you consult a qualified Komisar Brady tax professional for how the above information may apply to you.
