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AASBO 2010 WINTER CONFERENCE IRS AUDITS

AASBO 2010 WINTER CONFERENCE IRS AUDITS. FSLG KIM SAVAGE. THE EXAMINATION PROCESS . Examination Selection Process Examination Issues and Periods Examination Outcomes and/or Sanctions. FORM W-4 COMPLIANCE. Exempt Certificates Invalid Certificates None U.S. Person Employees.

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AASBO 2010 WINTER CONFERENCE IRS AUDITS

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  1. AASBO 2010 WINTER CONFERENCEIRS AUDITS FSLG KIM SAVAGE

  2. THE EXAMINATION PROCESS • Examination Selection Process • Examination Issues and Periods • Examination Outcomes and/or Sanctions

  3. FORM W-4 COMPLIANCE • Exempt Certificates • Invalid Certificates • None U.S. Person Employees

  4. STUDENT FICA EXCLUSION • Summer Employment

  5. MISCLASSIFIED WORKERSOR PAYMENTS • Coaches • Sport or Special Event Workers • Part-time Hourly Wage Earners • Section 3401(d) Employees

  6. GROUP TERM LIFE INSURANCE • Employer Paid Benefit >$50,000 • Employee Paid Elective 125 Plan Benefit

  7. CASH EQUIVALENTFRINGE BENEFITS • Gift Cards • Awards Paid as 3401(d) Employer

  8. Employee Allowances • Vehicle • Cell Phone • Other

  9. Employer Provide Cell Phone • Personal Use Policy w/ Substantial Restrictions • Employee Explicit Acknowledgement of the Policy • Employee Procedure/Process to Monitor Policy Compliance • Policy Requirement for Employee Disclosure of Personal Use • Procedure to Identify, Compute, and Include Taxable Wage Amount

  10. EMPLOYEE TAKE HOME VEHICLES • Condition of Employment Requirement to Commute in an Employer Vehicle • Written Policy Prohibiting Other Personal Use • Employee Compliance w/ the Policy • Non-Personal Use Vehicle • Permissible Valuation Methods for Taxable Benefit

  11. SAME DAY MEAL REIMBURSEMENTS/ALLOWANCES • General Rule – Taxable Fringe Benefit • Exceptions: 1. Qualified Business Entertainment 2. Meeting Attendance – Meals in Kind 3. Qualified De Minimus Meal Reimbursements See State Department of Administration Policy www.gao.az.gov

  12. EMPLOYER PROVIDEDEMPLOYEE HOUSING • General Rule = Taxable Fringe Benefit • Internal Revenue Code Section 119(a) • Internal Revenue Code Section 119(d) • Campus Housing Adequate Rent • Employer Paid Utilities

  13. INFORMATION RETURNCOMPLIANCE • Payments Subject to Reporting • Recipient “Types” Subject to Reporting • Sanctions for Non- Compliance – Civil Penalties and Back-up Withholding Taxes • School District Area of Compliance Failures – Auxiliary and/or Activity Accounts

  14. FORM 1099MISC • Verify TINS Used are Possible Numbers • Verify Recipients’ Names and TINs are Consistent • Impose Back-up Withholding if No Valid TIN on File when Possible • Payments Reportable to Corporations • Payments for Services to LLCs

  15. FORM 1099MISC • Deceased Employee’s Wages Paid to Estate or Beneficiary • Not Used for Payments to Non-Resident Aliens

  16. For More Information • Instructions: Forms W-2, W-3, W-4 & 941 • Pub 15 Employer’s Tax Guide • Pub 15-A Employer’s Supplemental Tax Guide • Pub 15-B Employer’s Tax Guide to Fringe Benefits • Pub 963 Federal-State Reference Guide • FSLG Fringe Benefit Guide

  17. Need Help? • www.socialsecurity.gov/employer • “How to Reach Us” • SSA National Employer Information Line • 800 772-6270 • Phone your FSLG Specialist -Kim Savage 928-214-3309 -Wayne Woods 602-636-9124 -Robert Reinart 602-636-9657

  18. THANK YOU

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