Instructions For Form Ct-1 - 2011 (Page 2 of 8) in pdf

2011

Department of the Treasury

Internal Revenue Service

Instructions for Form CT-1

Employer’s Annual Railroad Retirement Tax Return

section 13 of Pub. 15 (Circular E), Employer’s Tax Guide, or

Section references are to the Internal Revenue Code unless

visit IRS.gov and enter the keywords “Correcting

otherwise noted.

Employment Taxes.”

What’s New

Paid preparers must sign Form CT-1. Paid preparers

must complete and sign the paid preparer’s section of Form

Beginning in 2011, all deposits of more than $2,500

CT-1.

must be made electronically. For more information,

see Depositing Taxes, later.

Employer liability. Employers are responsible to ensure

CAUTION

that tax returns are filed and deposits and payments are

Future developments. The IRS has created a page on

made, even if the employer contracts with a third party. The

IRS.gov for information about Form CT-1 and its

employer remains liable if the third party fails to perform a

instructions, at Information about any

required action.

future developments affecting Form CT-1 (such as

legislation enacted after we release it) will be posted on that

Where can you get telephone help? You can call the IRS

page.

toll free at 1-800-829-4933 Monday through Friday from 7

a.m. to 10 p.m. your local time (Alaska and Hawaii follow

Tier I Employee tax rate has been lowered for 2011. The

Pacific time) for answers to your questions about completing

Tier I Employee tax rate has been lowered to 4.2% for 2011

Form CT-1, tax deposit rules, or obtaining an employer

only. For 2011 tax rates and compensation bases, see

identification number (EIN).

Employer and Employee Taxes — Tax Rates and

Compensation Bases, later.

Additional information.

•

Federal tax deposits must be made by electronic funds

Pub. 15 (Circular E), Employer’s Tax Guide, contains

transfer. Beginning January 1, 2011, you must use

information for withholding, depositing, reporting, and paying

electronic funds transfer to make all federal tax deposits

employment taxes.

•

(such as deposits of employment tax, excise tax, and

Pub. 15-A, Employer’s Supplemental Tax Guide, contains

corporate income tax). Forms 8109 and 8109-B, Federal

specialized and detailed employment tax information

Tax Deposit Coupon, cannot be used after December 31,

supplementing the basic information provided in

2010. Generally, electronic funds transfers are made using

Pub. 15 (Circular E).

the Electronic Federal Tax Payment System (EFTPS). If you

•

Pub. 15-B, Employer’s Tax Guide to Fringe Benefits,

do not want to use EFTPS, you can arrange for your tax

contains information about the employment tax treatment of

professional, financial institution, payroll service, or other

various types of noncash compensation.

trusted third party to make deposits on your behalf. Also,

•

Pub. 915, Social Security and Equivalent Railroad

you may arrange for your financial institution to initiate a

Retirement Benefits, contains the federal income tax rules

same-day tax wire payment on your behalf. EFTPS is a free

for social security benefits and equivalent Tier I railroad

service provided by the Department of Treasury. Services

retirement benefits.

provided by your tax professional, financial institution,

•

The Railroad Retirement Board (RRB) website at

payroll service, or other third party may have a fee. For

contains additional employer reporting

more details, see Depositing Taxes, later. For exceptions,

information and instructions.

see Electronic Deposit Requirement, later.

You can order forms and publications by calling

For more information about EFTPS or to enroll in EFTPS,

1-800-829-3676 or visiting IRS.gov.

visit the EFTPS website at , or call

1-800-555-4477. You also can get Pub. 966, The Secure

Photographs of Missing Children

Way to Pay Your Federal Taxes.

The Internal Revenue Service is a proud partner with the

Special rate for certain individuals hired in 2010 has

National Center for Missing and Exploited Children.

expired. The special Tier I tax exemption and credit rate on

Photographs of missing children selected by the Center may

compensation paid to qualified employees hired in 2010 has

appear in instructions on pages that would otherwise be

ended.

blank. You can help bring these children home by looking at

Change of Address. Beginning in 2012, employers must

the photographs and calling 1-800-THE-LOST

use new Form 8822 – B, Change of Address — Business,

(1-800-843-5678) if you recognize a child.

for any address change.

General Instructions

Reminders

Correcting a previously filed Form CT-1. If you discover

Purpose of Form

an error on a previously filed Form CT-1, make the

correction using Form CT-1 X, Adjusted Employer’s Annual

Use Form CT-1 to report taxes imposed by the Railroad

Railroad Retirement Tax Return or Claim for Refund. Do not

Retirement Tax Act (RRTA). Use Form 941, Employer’s

use line 12 of Form CT-1 to make prior period corrections.

QUARTERLY Federal Tax Return, or, if applicable, Form

Use Form 843, Claim for Refund and Request for

944, Employer’s ANNUAL Federal Tax Return, to report

Abatement, when requesting a refund or abatement of

federal income taxes withheld from your employees’ wages

assessed interest or penalties. For more information, see

and other compensation.

Dec 08, 2011

Cat. No. 16005H

Instructions For Form Ct-1 - 2011 Page 2

Related Articles

Related forms

Related Categories