Tax Seminar #3 – December 3 2012
Workbook - Zicklin School of Business
Workbook - Zicklin School of Business
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Comment by Appeals Officer: <strong>Tax</strong>payer has not been compliant since 2001.<br />
In reality, with only a handful of exceptions, the taxpayer has been fully compliant. The taxpayer has<br />
actually overpaid approximately $8,000.<br />
Quarter Ended Filing Payments<br />
03/31/02 Timely Filed Payments were made all on time. However, two payments are<br />
missing from transcript. Client double-paid ...see original cancelled<br />
checks. Client overpaid $8,369.41.<br />
06/30/02 Timely Filed Checks for last three payments of quarter were written timely, but<br />
deposited five to six weeks late. The payments were all made on or<br />
before the due date of the return. Client paid penalty of $1,278.82.<br />
09/30/02 Timely Filed Timely Paid<br />
12/31/02 Timely Filed There was an oversight as to one week’s payment (October 11,<br />
2002). The check was written (#5079) on time but not turned in for<br />
deposit. Client believed that the payment had been made and filed<br />
his form 941 accordingly. Upon receipt of notice from IRS, client<br />
paid promptly. See form 941.<br />
03/31/03 Timely Filed Timely Paid<br />
06/30/03 Timely Filed 13 Weekly payments of payroll taxes were paid. A penalty of<br />
$1,761.06 was assessed and paid. We have no idea why.<br />
09/30/03 Timely Filed <strong>Tax</strong>payer did fall behind slightly during the first 2 months of the<br />
quarter. All was caught up by October 1. A penalty of $2,905.79<br />
was imposed by the IRS and paid.<br />
12/31/03 Timely Filed Timely Paid<br />
03/31/04 Timely Filed Timely Paid. Note, a federal tax deposit penalty was assessed and<br />
abated. A review of the payroll tax return and transcript shows that<br />
all payments were timely made.<br />
06/30/04 Timely Filed 13 Weekly payments of payroll taxes were paid. A penalty of<br />
$606.14 was assessed and paid. We have no idea why.<br />
09/30/04 Timely Filed Timely Paid<br />
12/31/04 Timely Filed Timely Paid<br />
03/31/05 Timely Filed Timely Paid<br />
06/30/05 Timely Filed Timely Paid<br />
09/30/05 Timely Filed One of the 13 weekly payments was paid 2 months late (7/29<br />
payroll paid on 9/29/05). All others were paid timely. Client was<br />
assessed a penalty of $948.62 which was paid in full by the client.<br />
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