[Revenews] OCT 2011 LISTSERV
TAVARES Cathleen M
cathleen.m.tavares at state.or.us
Wed Nov 2 10:27:13 PDT 2011
Payrolltax News LISTSERV
Oct 2011
Please share this information with anyone who may benefit from it.
I. IMPORTANT REMINDER: Workers Benefit Fund Assessment:
When calculating the Workers Benefit Fund (WBF) assessment, you must include hours worked by ALL paid workers each quarter, including hours worked by workers paid on a basis other than by the hour. This includes salaried or commission employees, as well as those paid by the piece or by the mile.
To calculate the number of hours worked by workers paid on a basis other than by the hour, employers need to determine "reasonable hours" for each, and include these amounts in the total number of hours subject to the WBF assessment each quarter. Information on how to determine reasonable hours can be found on the WBF website at http://www.oregon.gov/DCBS/FABS/docs/assessment.pdf, or by calling 503 378-2372.
II. iWire Reminder:
This is a reminder that all employers will be required to submit W2 Information electronically effective for calendar year 2011 (due March 31, 2012). The Department of Revenue will follow the same file specifications for the W2 information as the Social Security Administration.
Effective for calendar year 2011, businesses with 250 or more of any one type of information return (1099*) are required to report this information electronically. This information is also due March 31, 2012 for the following: forms 1099-MISC, 1099-G, 1099-R and W2G.
For more information on electronic W2 and 1099 reporting, please go to our website at http://www.oregon.gov/DOR/BUS/iwire-income-wage-information-return-eservices.shtml
NOTE: Be sure to review all information including the sections on "Trouble Shooting: and Frequently Asked Questions"
III. IMPORTANT! Updating address/phone numbers:
New forms and tax rate information will soon be sent out to the most current business address on file. It is very important that if you had a change of address and/or telephone number in the past year that you complete a "Business Contact Change Form" located on our website at http://www.oregon.gov/DOR/forms/business/business_contact_change_form_150-211-159.pdf
This new form allows you to update all contact information, including any information regarding the addition or deletion of an offsite payroll service. This will be especially important if you use either OTTER (Oregon Tax Employer Reporting) or SETRON (Secured Employer Tax Reporting Online) tax reporting systems to submit your quarterly tax reports. Updating your contact information will ensure that you are kept informed as to when the new system (the Oregon Payroll Reporting System) goes online.
Failure to update your contact information prevents you from receiving the proper forms and important tax information sent to you by mail. This includes next year's Employment tax rates and any tax updates. It is also very important to update your account to take off any person or payroll provider, accountant or CPA who is no longer authorized to be given tax information or to submit information on your behalf.
IV. Power of Attorney Forms:
In response to the recent passage of SB 867 (aka: CPA Mobility Bill), the Power of Attorney form has been updated to include a line requiring out of state CPA's to sign "attesting that they meet the requirements to practice in Oregon". It is important to be sure that this line is signed if the form has been filled out giving the out of state CPA "authorization to represent" the taxpayer. If the POA is completed indicating "authorization to disclose" information only, this line does not need to be signed by the CPA.
NOTE: This new policy applies only to out of state CPA's and attorneys. It does not apply to any other tax professionals including enrolled agents.
V. Outreach /Education:
Upcoming Educational Event: "LLC's and S-Corps"
Chemeketa Community College SBDC
626 High St NE (corner of High and Union)
Salem OR
Date/Time: Weds, Nov 9th 2:00-4:00
Cost: Free
S-Corps and LLC's can be very confusing. What exactly is an LLC? What makes the S-Corp different from a standard corporation? Learn more about these particular entities and the common misconceptions people have, plus why these structures have become so popular.
" Taxes Made Easy"
Chemeketa Community College SBDC
626 High St NE (corner of High and Union)
Salem OR
Date/Time: Weds, Nov 16th 10:00-12:00
Cost: Free
Get a better understanding of payroll and business tax obligations. What do I need to file if I am a sole proprietor? What happens when I change entities?
Additional Information:
If you wish to hear about specific Tax and topics would like to have a representative speak to your group or organization, please feel free to contact us.
***For Payroll and Withholding Tax topics and issues contact: Contact Cathy Tavares,-LISTSERV owner,(contact information below). For personal Income tax issues, contact the LISTSERV owner as well for further contact.
The Payrolltax-News e-mail list provides employers with complete and up-to-date payroll tax information. Employers can self-subscribe here<http://listsmart.osl.state.or.us/mailman/listinfo/payrolltax-news>. Representatives in the Business Division will send information to employers through this list. Employers can request additional information by e-mailing payroll.help.dor at state.or.us<mailto:payroll.help.dor at state.or.us>.
As a standard practice, e-mail sent from the department will be in text form only. Department of Revenue will not open attachments.
Questions about list content and subscription problems should be directed to the list owner:
Cathy Tavares
Oregon Dept of Revenue
Cathleen.M.Tavares at state.or.us<mailto:Cathleen.M.Tavares at state.or.us>
503-945-8762
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