Schedule of Events

• Employers Income Tax Withholding. Ask employees whose withholding allowances will be different in 2009 to fill out a new Form W-4.
  
  
• Employers Earned Income Credit. Ask each eligible employee who wants to receive advance payments of earned income credit during the year 2009 to fill out a Form W-5. A new Form W-5 must be filled out each year before payments are made.
• November 10 Employers Social Security, Medicare, and withheld income tax. File form 941 for the third quarter of 2008. This due date applies only if you deposited the tax for the quarter in full and on time.
  
  Employees who work for tips. If you received $20 or more in tips during April, report them to your employer. You can use Form 4070.
  
• November 17 Employers - Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in October.
  
  Employers - Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in October.
  
  
• December 10 Employees who work for tips. If you received $20 or more in tips during November, report them to your employer. You can use Form 4070.
• December 15 Corporations. Deposit the fourth installment of estimated income tax for 2008. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.
  
  Employers Social security, Medicare, and withheld income tax - If the monthly deposit rule applies, deposit the tax for payments in November.
  
  Employers Nonpayroll withholding - If the monthly deposit rule applies, deposit the tax for payments in November.
• Effective July 24, 2008, the federal minimum wage will increase from $5.85 per hour to $6.55 per hour.
  

Account Resolution

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