[Revenews] PayrollTax News LISTSERV Jan.2009

[TAVARES Cathleen M]

Payrolltax News LISTSERV

January 2009

 

Please share this important information with anyone who might benefit
from it.

 

I.  Reminders:

 

1.	Form WR:

The 2008 form WR (Withholding Annual Reconciliation Report) is due by
February 28th.  
 

When completing the form, remember that the first section must reflect
the exact amount of state income tax withholding reported on form OQ for
each quarter. Do not indicate any adjustments in this section unless
amended returns had previously been filed. Line 6 reflects the state
income tax withholding on all W2's/1099's issued under that particular
state tax identification number. Line 7 allows for an explanation of any
differences or adjustments that need to be made. 

 

Be sure to include the name, title and telephone number of the person
who can provide further information and clarification if necessary. You
do not need to send in the W2's or 1099's for 2008 unless these are
requested.  



2.	Schedule B Detail. 

Employers are generally required to make their state income tax
withholding deposits at the same frequency as federal. When completing
the Schedule B, the dates and amounts of deposit reflected on the form
must match the date and amount of the actual deposit that was made. Do
not indicate what should have been submitted. Schedule B needs to
reflect what was actually submitted and when. Incorrectly completing
this form can result in incorrect tax billings or late payment
penalties. 

 

3.	Withholding Tax Tables:

The Withholding tax tables dated January 1 2007 will remain in effect
for 2009. The Withholding formula may be adjusted with the following
updates,            

 

             A.  Personal exemption credit: $176 

             B.  Standard deduction: 
                  Single-$1,945
                  Married-$3,895
             C.  Federal tax subtraction: $5,850

 

II:   Other reminders:

 

1.  The Workers Benefit Fund Assessment should not be reported on the
form W2.  It is not considered to be a "local tax"

 

2. The TriCounty Metropolitan and Lane Transit taxes are employer taxes.
These are not an employee deduction and should not be reflected on the
form W2. 
These taxes are based on wages earned for services performed within the
transit districts by employees or self employed individuals. They are
not based on where the employee resides unless they work from home. More
information can be found @
http://www.oregon.gov/DOR/BUS/IC-211-503.shtml.

 

 

III Educational Opportunities:

 

     "Transit Tax Subjectivity"
Small Business Development Center 

      Weds, February 4th, from 10:00-11:30                  1445 SW
Willamette Rm. 117

 
Eugene OR                                                       

           

Call 541 463-5255 for more information and to register.

 

 

The Payrolltax-News e-mail list provides employers with complete and up
to date payroll tax information. Employers can request additional
information by e-mailing payroll.help.dor at state.or.us

Questions about list content and subscription problems should be
directed to the list owner:

Cathy Tavares
Oregon Department of Revenue
cathleen.m.tavares at state.or.us
503 945-8762 

 

 

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