Updating address with irs
Federal Withholding, Social Security and Medicare, Federal Unemployment, unrelated business income tax, etc.) at the bank or other financial institution.
It is important to record the proper tax period on the coupon, as hours of effort will be required to correct the problem if the wrong tax period is recorded by the IRS.
Like all other employers, unions must issue W-2 [PDF] forms to their employees by January 31 of each year — notifying them of the amount of their earnings, tax withholdings, and certain benefits for the previous year.
This revocation of tax status information is provided for APWU locals and Retiree and Auxiliary chapters.
Which means your local will not be held liable for taxes during that period.
The other good news is that you will have until Dec 31, 2016 to have your tax-exempt status reinstated.
[W-9 Instructions - PDF] IRS Form 940 [PDF] at year end is used to pay federal unemployment taxes.
[940 Instructions - PDF] IRS Form 941 [PDF] is used to report all taxable wages, withheld taxes, and employer's FICA liabilities for a specific quarter.
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Also, to reinstate your tax-exempt status, the local will have to pay a $100 user fee and file a fairly detailed tax form.