November 23, 2014

Receiving disability payments?

Members who received disability-claim payments from Anthem or Lincoln in 2010 will be receiving IRS W-2 forms from those insurers. This does not mean that the benefits are taxable. It is merely a reporting requirement of the IRS. The payments will be listed in Box 12 with a “J” and the amount received. This notifies [...]

UTU treasurers’ alert: IRS payment changes

All UTU locals are now required to make federal tax payments on-line using the Electronic Federal Tax Payment System (EFTPS). This is because the Internal Revenue Service announced that effective Jan. 1, 2011, it no longer will accept Form 8109 FTD (federal tax deposit) coupons for filing federal tax payments. The EFTPS is a free [...]

UTU locals must file IRS Form 990

UTU locals that have not filed Form 990, Form 990EZ or Form 990-N with the Internal Revenue Service for the last three years have until Oct. 15, 2010, to file, or they will automatically lose their tax-exempt status. For additional information on which of three above forms a local is required to file, read the [...]

All UTU locals must file Form 990

Local treasurers and other officers should be aware that all UTU locals are now required to file Internal Revenue Service Form 990 for fiscal year 2007. The form must be filed no later than May 15, 2008. Previously, locals that ordinarily received less than $25,000 in adjusted receipts did not have to file the form [...]