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2011 Form 1099-MISC Confusion

There’s been new rules, then some rules repealed and then some added. It’s hard to know where we stand with all the Form 1099-MISC filing requirements. First, where’s the specific 2011 Form 1099-MISC Instructions? It’s missing from the IRS’s web site as of the writing of this post. There’s instructions for 2010 and 2012 but […]

Wage Compensation for S Corporation Officers

FS-2008-25, August 2008 Corporate officers are specifically included within the definition of employee for FICA (Federal Insurance Contributions Act), FUTA (Federal Unemployment Tax Act) and federal income tax withholding under the Internal Revenue Code. When corporate officers perform services for the corporation, and receive or are entitled to receive payments, their compensation is generally considered […]

IRS: Bus mileage rate 55.5 cents per mile 7/1/11-12/31/11

IRS Business Mileage Rates 07/01/11 – 12/31/11  55.5 cents per mile http://www.irs.gov/newsroom/article/0,,id=240903,00.html 01/01/11 – 06/30/11 51 cents per mile. http://www.irs.gov/newsroom/article/0,,id=232017,00.html