There’s (1) a lifesaver form if you have problems with W-2s and (2) the new IRS Withholding Tables.
The lifesaver year-end form
If the 11th hour comes and for some reason – the printer jams, your vendor balks, etc. – you can’t deliver your W-2s, there’s one form that can save you.
Filing Form 8809 will get you an automatic 30-day extension. The only trick is you must postmark, transmit or complete the form online by the W-2 due date. (For 2009, you have until March 2 if filing on paper and March 31 if e-filing.)
Download Form 8809, Application for Extension of Time to File Information Returns, at www.irs.gov/pub/irs-pdf/f8809.pdf.
IRS Releases 2009 Withholding Tables
Let your Payroll people know that if they use the percentage-method withholding tables, they can set their system now for the first payroll of 2009.
IRS just released Notice 1036, which shows the amounts for one withholding allowance:
Weekly ……………………………… $70.19
Biweekly …………………………. $140.38
Semimonthly …………………… $152.08
Monthly ………………………….. $304.17
Quarterly ………………………… $912.50
Semiannually ………………… $1,825.00
Annually ………………………. $3,650.00
Daily/misc. ………………………… $14.04.
The wage bracket withholding tables will appear in IRS’ Publication 15, Circular E, which hasn’t been published yet.
