IRS Announces Revisions to Form 941

The IRS announced that in mid-March it will start sending employers new Forms 941, Employer’s Quarterly Federal Tax Return. Employers will use the revised form to claim the new COBRA premium assistance payments credit, which was introduced by the recent stimulus act, the American Recovery and Reinvestment Act of 2009, PL 111-5.


Under the act, eligible former employees who were enrolled in their employer’s health plan when they lost their jobs are required to pay only 35% of the cost of COBRA coverage. Employers must treat the 35% payment by eligible former employees as full payment, but the employers are entitled to a credit for the other 65% of the COBRA cost on their payroll tax return.


Employers will use the revised Form 941 starting with the first quarter of 2009.



Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.