By Payroll and Entitlements Editorial Staff
The Treasury Department issued Circular Letter 19-10 to provide notice of the form and the procedure for the electronic preparation and filing of the Quarterly Return for Income Tax Withheld on Services Rendered and to establish the requirement of the minimum amount of withholding of 10% allowed to be deposited quarterly with the return. Effective for the quarter which ended March 31, 2019, any person required to make the 10% withholding must file the Quarterly Return using Form 480.6 SP-1, Quarterly Income Tax Withholding Payments for Services Rendered (Form 480.6 SP -1), to indicate the tax withheld during each quarter of the year. This return can only be submitted electronically through SURI no later than the last day of the month following the close of each of the quarters ended March 31, June 30, September 30 and December 31 of each year.
However, in order to facilitate compliance and provide sufficient time to the withholding agents to collect all the necessary information to electronically file Form 480.6 SP-1 corresponding to the quarter that ended on March 31, 2019, the expiration date of Tuesday, April 30, 2019 will be postponed until Wednesday, July 31, 2019. Therefore, both the Quarterly Return for the quarter that ended March 31, 2019 and that form corresponding to the quarter ending June 30, 2019, must be filed no later than Wednesday, July 31, 2019. (Internal Revenue Circular Letter No. 19-10.)
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