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Amended Tax Return and IRS Resolution

I was initially worried about picking someone off the internet but your testimonials sold me so I would more than happy to assist and hopefully the next person will be at ease choosing to utilize your services. I am pleased to write you to let you know I received a response from the IRS in response to the schedule C you assisted with filing. They responded saying the information supplied was sufficient and they have closed discrepancy. I spoke with the IRS and they said no tax is due. I asked even though I did make a $400 profit and they said again no tax liability is showing that the case was closed. I just wanted to thank you again for your assistance with this issue.

Jason Stoltz

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Even though Gary enjoys helping colleagues, we no longer provide free consults to other tax preparers. He's happy to consult on an hourly billing basis if our schedule allows.

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Form 8941 CPA comments on 2012 Requirements | Payroll issues

Form 8941 CPA Wilmington NC

Gary Bode, CPA: Form 8941 is just part of the Patient Protection and Affordable Care Act. For a free phone consult call (910) 399-2705.

I’m a Form 8941 CPA with a virtual office to accommodate long distance clients.

Form 8941 CPAs concentrate on Form 8941. But there are other issues to concern yourself with now that the Supreme Court upheld the Patient Protection and Affordable Care Act. I imagine most companies had a wait and see attitude.

2012 W-2s

Remember health insurance premiums must be included on the 2012 W-2s. This shouldn’t be a major hassle for employers, but payroll CPAs might have a windfall in 2013 (wink). Most health insurance premiums aren’t tracked through payroll. The process should include:

  • Gathering 2012 information to date.
  • Establish an ongoing process to track these costs. For most folks that would be a supplemental Excel spreadsheet you update when the company pays the health care premiums.
  • In 2013, prepare an accurate report of these costs. Reconcile it to the totals paid in 2012.
  • Ensure your payroll CPA enters the information on the 2012 W-2s.

Information for Open Enrollment

You must clearly communicate employee options to them. My guess? This will take a few days of work for an HR employee. While not a big deal, documenting the process is prudent as employee confusion could generate complaints. I suggest turning the process into a PR event.

Any change in payroll and reporting procedures has the potential for problems. Proactive planning should make this 2012 W-2 issue a breeze. I encourage my clients to aggregate employee costs anyway. Why? I like to know the total of what each employee truly costs; gross wages, unemployment taxes, payroll taxes, health insurance, Workman’s Comp, etc.

I’m a Form 8941 with a virtual office. So, if you don’t have a local CPA, or just like what you read on this website, consider giving us a call for a free phone consult at (910) 399-2705. Distance isn’t an issue. Form 8941 is prepared as part of the Company’s Form 1120-S, Form 1065, Form 1120 or Schedule C. We handle payroll, too.

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