Instructions For Form Ct-1 (2009) - Internal Revenue Service (Page 6 of 7) in pdf

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An explanation of the item the adjustment is intended to

You are not authorizing the designee to receive any

correct showing the compensation subject to Tier I and

refund check, bind you to anything (including additional tax

Tier II taxes and their respective tax rates.

liability), or otherwise represent you before the IRS. If you

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The amount of the adjustment.

want to expand the designee’s authority, see Pub. 947,

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The name and account number of any employee from

Practice Before the IRS and Power of Attorney.

whom employee tax was undercollected or overcollected.

The authorization will automatically expire 1 year from the

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How you and the employee have settled any

due date (without regard to extensions) for filing your 2009

undercollection or overcollection of employee tax.

Form CT-1. If you or your designee wants to revoke this

Fractions of cents. If there is a difference between the

authorization, send a written statement of revocation to:

total employee tax (lines 4, 5, 6, 9, and 10) and the total

Department of the Treasury, Internal Revenue Service

actually deducted (employee compensation including tips

Center, Cincinnati, OH 45999. See Pub. 947 for more

plus the employer’s contribution) due to rounding fractions of

information.

cents when collecting the tax, report the deduction or

Who Must Sign

addition on line 12.

Form CT-1 must be signed as follows:

If this is the only entry on line 12, you are not

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Sole proprietorship — The individual who owns the

TIP

required to attach a statement explaining the

business.

adjustment.

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Corporation (including a limited liability company (LLC)

treated as a corporation) — The president, vice-president, or

Line 13— Total Railroad Retirement

other principal officer duly authorized to act.

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Taxes Based on Compensation

Partnership (including an LLC treated as a partnership)

or unincorporated organization — A responsible and duly

Combine the amounts shown on lines 11 and 12 and enter

authorized member or officer having knowledge of its affairs.

the result on line 13.

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Single member LLC treated as a disregarded entity

for federal income tax purposes — The owner of the LLC

Line 14— Total Deposits for the Year

or a principal officer duly authorized to act.

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Enter the total Form CT-1 taxes you deposited. Also, include

Trust or estate — The fiduciary.

any overpayment applied from your 2008 Form CT-1 and

Form CT-1 may also be signed by a duly authorized

from Form CT-1 X.

agent of the taxpayer if a valid power of attorney has been

filed.

Line 15— Balance Due

Alternative Signature Method

Subtract line 14 from line 13. You should have a balance

due only if line 13 is less than $2,500, unless the balance

Corporate officers or duly authorized agents may sign Form

due is a shortfall amount for monthly schedule depositors as

CT-1, Employer’s Annual Railroad Retirement Tax Return,

explained under the Accuracy of Deposits Rule on page 4.

by rubber stamp, mechanical device, or computer software

Form CT-1(V), Payment Voucher, has instructions for

program. For details and required documentation, see Rev.

making a payment with Form CT-1. You do not have to pay

Proc. 2005-39 at

if line 15 is less than $1.

Paid Preparers

Line 16— Overpayment

A paid preparer must sign Form CT-1 and provide the

Enter the overpayment on the designated entry line. Then

information in the Paid Preparer’s Use Only section of Part I

check the appropriate box to have the overpayment applied

if the preparer was paid to prepare Form CT-1 and is not an

to your 2010 Form CT-1 or refunded to you. If line 16 is less

employee of the filing entity. The preparer must give you a

than $1, we will send you a refund or apply it to your next

copy of the return in addition to the copy to be filed with the

return only on written request.

IRS.

If you are a paid preparer, write your social security

Third-Party Designee

number (SSN) or preparer tax identification number (PTIN)

If you want to allow an employee of your business, a return

in the space provided. Include your complete address. If you

preparer, or another third party to discuss your 2009

work for a firm, write the firm’s name and the EIN of the firm.

Form CT-1 with the IRS, check the “Yes” box in the

You can apply for a PTIN using Form W-7P, Application for

Third-Party Designee section of Form CT-1. Also, enter the

Preparer Tax Identification Number. You cannot use your

designee’s name, phone number, and any five digits that

PTIN in place of the EIN of the tax preparation firm.

person chooses as his or her personal identification number

Generally, you are not required to complete this section if

(PIN).

you are filing the return as a reporting agent and have a

By checking the “Yes” box, you are authorizing the IRS to

valid Form 8655, Reporting Agent Authorization, on file with

speak with the designee to answer any questions relating to

the IRS. However, a reporting agent must complete this

the processing of or the information reported on Form CT-1.

section if the reporting agent offered legal advice, for

You are also authorizing the designee to:

example, by advising the client on determining whether its

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Exchange information concerning Form CT-1 with the

workers are employees or independent contractors for

IRS, and

federal tax purposes.

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Respond to certain IRS notices that you have shared with

your designee relating to Form CT-1. The IRS will not send

notices to your designee.

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Instructions for Form CT-1 (2009)

Instructions For Form Ct-1 (2009) - Internal Revenue Service Page 6

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