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Form 2159 Corona California: What You Should Know
Tax Professionals · What Is It? This is a simple, time-saving, and easy-to-use IRS form for taxpayers with paychecks of 750 or more per month, or total deductions of 3,000 or more from their tax return. The fee for filing is 225. However, taxpayers with small payroll deductions of 2,000 or less may be able to receive a reduced fee. Why Get This Form? When you pay your taxes every month, you are usually required to file a form 1040 in order to report and pay income taxes. And there are three main requirements to be able to file a 1040 tax return: you must pay the right income tax amount, you must be a U.S. citizen, and you must file by the due date of your return (generally May 15). You have until April 15 of the following year (or sooner if you paid it by the due date) to file for refund, but taxpayers with significant payroll deductions are not required to file until May 15. So, if you received 75,000 in salary in the quarter and were eligible for the increased 20% deduction, you could reduce that 75k bill and file your 1040 by April 2018. You may be eligible for this additional benefit if you have a payroll deduction of 2,000 or less. Here is how to file your 2159 for the next month: Start by sending Form 8958 to the IRS. You will need to submit your Social Security number — either an 8-digit SSN, or the Taxpayer ID Number (TIN) printed on your tax return. Fill out the Form 8958 as directed to identify each payroll line you have. Note: You DO NOT need an online version of this form! To be a legal taxpayer, you must have an individual taxpayer identification number (ITIN). If you do not, then you are considered an agent or employee for another, and you will be asked to provide proof of that identity; if you do not have an ITIN, then you will be sent a paper form that you need to complete and return to the IRS. This form is good for five years. IRS Form 2159 is a time-saving, easy, and efficient service that ensures your IRS tax payment is done on time. It may be used with IRS Form 1040EZ, Form 1040, or Form 1040A.
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