More from: IRS

Tax Information 2018

From email today from irs@service.govdelivery.com:

The busiest part of tax season begins this week, with millions of people planning to file. Through April 6, the IRS has processed more than 101 million tax returns and issued more than 79.1 million tax refunds totaling $226.6 billion. The average refund to date is $2,864.

Additional filing season numbers:

  • The IRS expects to receive about 14.9 million individual income tax returns for the week ending April 13, with about 13.1 million filed electronically.
  • On top of those 14.9 million tax returns, the IRS expects to receive another 17 million tax returns the following week.
  • Requests for extension are anticipated to exceed 11.6 million by next week, with the vast majority of those Forms 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, being filed electronically. Overall, this year, the IRS expects to receive more than 14 million extension requests from taxpayers.

Information about free e-file options, such as FreeFile, how to request an automatic six-month filing extension or fast and easy ways to pay any tax due using IRS Direct Pay are available online at IRS.gov. IN INDIANA you can access on-line software to file your Federal and Indiana State income taxes for free at https://www.in.gov/dor/5912.htm.




IRS Extension

irs-logoTo file electronically for an automatic extension to file, IRS gave me the URL https://www.freefilefillableforms.com. I had to type in name, address, and SSN, but not bank information. IRS STILL does not have a direct web page specifically to submit forms but their representative stated that this is the IRS extension to file web page. The instructions IRS provided are attached as a .pdf file here http://www.irs.gov/pub/irs-utl/Free_File_Fillable_Forms_User_Guide.pdf


2013 Federal Income Tax

Spreadsheet to estimate 2013 US Federal Income Tax withholding based upon IRS Notice 1036. For tax advice consult a tax professional. All use is strictly AS IS with no warranties implied or expressed. Creative Commons Share-alike license.

2013-withholding  Free download, use at your own risk.

Notes:

The tables were apparently based upon the annual table. Bi-Weekly tables are the annual tables divide by 26 and rounded to whole numbers. The Daily table is the Annual table divided by 260 and rounded to one decimal. Each row designates one “tax bracket”. For each higher bracket, taxpayer is charged the tax for the next lower bracket and then taxed upon their income within their own bracket: they do not appear to be taxed on all the lower brackets, only the bracket immediately below their own.

Social Security and Medicare Tax for 2013

The employee tax rate for social security is 6.2%. Previously, the employee tax rate for social security was 4.2%. The employer tax rate for social security remains unchanged at 6.2%. The social security wage base  limit is $113,700. The Medicare tax rate is 1.45% each for the employee and employer, unchanged from 2012. There is no wage base limit for Medicare tax. Employers should implement the 6.2% employee social security tax rate as soon as possible, but not later than February 15, 2013. After implementing the new 6.2% rate, employers should make an adjustment in a subsequent pay period to correct any underwithholding of social security tax as soon as possible, but not later than March 31, 2013. http://www.irs.gov/uac/Notice-1036,-Early-Release-Copies-of–the-Yearly-Percentage-Method-Tables-for-Income-Tax-Withholding

More information on FICA, Medicare, FUTA, SUTA, to follow. In the meantime, here is a Forbes article on the impact of the Affordable HeatheCare Act (Obama Care) via IRS rules. http://www.forbes.com/sites/rickungar/2013/02/04/irs-ruling-to-create-millions-of-uninsured-americans-as-it-undermines-the-very-intent-of-obamacare/?google_editors_picks=true