Overview
NACPB's 2009 Payroll Tax Guide provides you the guidance you need to comply with year-end and quarterly payroll tax reporting requirements. This Guide contains line-by-line guidance and easy to use reference material for preparing and filing payroll and information reporting forms. The Guide includes supporting checklists, worksheets, forms, and illustrations to help you prepare and file the most commonly used payroll and information reporting forms including Forms W-2, W-4, W-5, 940, 941, 943, 944, 945, 1040 (Schedule H), 1099 series, and 8027. The Guide enables you to address many of the problems faced when preparing payroll and information reporting forms.

The 2009 Guide includes new 2008 IRS tax regulations, rules, and illustrations including:

• Employment Tax Return Corrections. The IRS is modifying the procedures for making adjustments on underpayments and overpayments of FICA and federal income tax withholding. Beginning in 2009, Form 941c will no longer be used to report adjustments for underpayments or overpayments of these taxes. Instead, new stand-alone forms (i.e., Forms 941X, 943X, 944X, or 945X) will be filed. The 2008 edition includes information on these new forms and their filing requirements.
• IRS Initiatives. The IRS estimates millions of workers are misclassified as independent contractors, depriving the federal government of huge sums of tax revenue because of underreported income and related unpaid employment taxes. IRS officials have indicated that 30% of new employment tax audits will be based on employee classification issues. Other employment tax initiatives that the IRS is focusing its efforts on include tip reporting, officer’s compensation, fringe benefits, accountable vs. nonaccountable expense reimbursement plans, tool allowances, and backup withholding. Information on these recent IRS initiatives was added to the current edition.
• Employer-provided Cell Phones. Unsubstantiated business use as well as personal use by an employee of a company-provided cell phone is a taxable fringe benefit. Additional information on the taxation of employer-provided cell phones was added to the most recent edition.
• Supplemental Withholding. The IRS issued guidance clarifying how employers should determine the amount of federal income tax to withhold on different types of supplemental wage payments such as bonuses, commissions, severance, and sick pay. Nine examples illustrating this guidance were added in the most recent update.
• Differential Pay. The Heroes Earnings Assistance and Relief Tax Act of 2008 (HEART) changes the treatment of certain payments made by employers to employees on active duty in the military. Commonly known as differential pay, these payments will be subject to FITW and reported on Form W-2 (instead of on Form 1099) after 2008. The 2008 edition was updated to reflect the new requirements.
• Guidance on Health Savings Accounts (HSAs).  The growing popularity of HSAs makes it important that employers understand the rules for establishing and properly operating them. The IRS issued final regulations and several notices providing additional guidance on HSA contributions, distributions, eligibility, and comparability requirements.  The most recent edition provides employers with information on these recent developments.
• Preparer Penalty. For purposes of the return preparer penalty, the Tax Extenders and AMT Relief Act of 2008, replaces the “more-likely-than-not” standard for understatements due to unreasonable positions with a less onerous “substantial authority” standard, except for tax shelters and reportable transactions. Information on this new standard was added to the current edition.
• New Forms. The IRS introduced several new forms this year including (1) Form 8925, which is used for the reporting required on employer-owned life insurance contracts; (2) Form 8928, which employers use to report the 35% excise tax for failure to meet the Archer medical savings account (MSA) or health savings account (HSA) comparability rules; (3) Form 3921, which employers file when stock acquired through the exercise of an option granted under an incentive stock option plan is transferred to an employee; and (4) Form 3922, which employers file when legal title to stock acquired through the exercise of an option granted under an employee stock purchase plan is transferred to an employee.

Benefits
Improves Payroll Knowledge and Skills
Improves Payroll Service Quality
Increases Payroll Service Productivity
Trains Payroll Personnel
Answers Day-to-day Payroll Questions

Table of Contents
Chapter 1 - Payroll Tax Introduction and Overview
Chapter 2 - Payroll Tax Compensation and Benefits
Chapter 3 - Payroll Tax Withholding, Deposits, and Credits
Chapter 4 - Payroll Tax Annual Wage and Information Returns
Chapter 5 - Payroll Tax Penalties and Other Matters

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