Federal Register: January 21, 2009 (Volume 74, Number 12)
DOCID: fr21ja09-5 FR Doc E9-1097
DEPARTMENT OF THE TREASURY
Internal Revenue Service
CFR Citation: 26 CFR Part 31
RIN ID: RIN 1545-BI39
TD ID: [TD 9440]
NOTICE: RULES
DOCID: fr21ja09-5
DOCUMENT ACTION: Correcting amendment.
SUBJECT CATEGORY:
Employer's Annual Federal Tax Return and Modifications to the Deposit Rules; Correction
DATES: Effective Date: This correction is effective January 21, 2009, and is applicable on December 29, 2008.
DOCUMENT SUMMARY:
This document contains corrections to final and temporary regulations (TD 9440) that were published in the Federal Register on Monday, December 29, 2008, relating to the annual filing of Federal employment tax returns and requirements for employment tax deposits. These temporary regulations relate to sections 6011 and 6302 of the Internal Revenue Code concerning reporting and paying income taxes withheld from wages and reporting and paying taxes under the Federal Insurance Contributions Act (FICA) (collectively, ``employment taxes'').
SUMMARY:
Employer's Annual Federal Tax Return and Modifications to the Deposit Rules; Correction
SUPPLEMENTAL INFORMATION
Background
This document contains corrections to final and temporary regulations (TD 9440) that were published in the Federal Register on Monday, December 29, 2008 (73 FR 79354) relating to the annual filing of Federal employment tax returns and requirements for employment tax deposits. The final and temporary regulations that are the subject of this document are under sections 6011 and 6302 of the Internal Revenue Code. These temporary regulations generally allow certain employers to file a Form 944, ``Employer's ANNUAL Federal Tax Return'', rather than Form 941, ``Employer's QUARTERLY Federal Tax Return''. In addition to rules related to Form 944, the temporary regulations provide an additional method for employers who file Form 941 to determine whether the amount of accumulated employment taxes is considered de minimis. The portions of this document that are final regulations provide necessary crossreferences to the temporary regulations.
Need for Correction
As published, final and temporary regulations (TD 9440) contain errors that may prove to be misleading and are in need of
clarification.
List of Subjects in 26 CFR Part 31
Employment taxes, Income taxes, Penalties, Pensions, Railroad
retirement, Reporting and recordkeeping requirements, Social security, Unemployment compensation.
Correction of Publication
Accordingly, 26 CFR part 31 is corrected by making the following correcting amendments:
PART 31EMPLOYMENT TAXES AND COLLECTION OF INCOME TAX AT SOURCE
Paragraph 1. The authority citation for part 31 continues to read, in part, as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 31.63020T is amended by revising the entry for Sec. 31.63021T(d)
Example 6. to read as follows:
Sec. 31.63020T Table of contents (temporary).
* * * * *
Sec. 31.63021T Federal tax deposit rules for withheld income taxes
and taxes under the Federal Insurance Contributions Act (FICA)
attributable to payments made after December 31, 1992 (temporary). * * * * *
(d) * * *
Example 6. Extension of time to deposit for employers who filed Form 944 for the preceding year satisfied.
* * * * *
Par. 3. Section 31.63021T is amended by revising the last sentence of paragraph (d)
Example 6. to read as follows:
Sec. 31.63021T Federal tax deposit rules for withheld income taxes
and taxes under the Federal Insurance Contributions Act (FICA)
attributable to payments made after December 31, 1992 (temporary). * * * * *
(d) * * *
Example 6. * * * Pursuant to Sec. 31.63021T(c)(6), F will be
deemed to have timely deposited the employment taxes due for January
2007, and, thus, the IRS will not impose a failuretodeposit penalty under section 6656 for that month.
* * * * *
LaNita Van Dyke,
Chief, Publications and Regulations Branch Legal Processing Division, Associate Chief Counsel, (Procedure and Administration).
[FR Doc. E91097 Filed 11609; 8:45 am]
BILLING CODE 483001P
FOR FURTHER INFORMATION CONTACT
Audra Dineen, (202) 622-4910 (not a tollfree number).