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Notice 2008-115 and Form 941


Ken Davis

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All,

IRS Notice 2008-115 (attached) has a special rule for withholding income taxes on 409A income included in income on 12/31/12, but not paid until January 2013. If the withholding tax is withheld from the actual payment in January 2013 and is paid to the IRS by the December quarter 941's due date, then no failure to deposit taxes penalty will apply.

Our question is what do we do on the 941 to indicate that we've met the 2008-115 requirements. Without some indication, isn't the IRS going to see

on Sch B of 941 a liability on 12/31/12, one that for us would normally have to be deposited in the first week of January, but then see a deposit

actually made on January 20, 2013 when we cut the check to the employee and withheld the taxes? Or, are we just forced to sit back, receive a late

deposit penalty letter and deal with it then?

Thanks,

Ken Davis

Univ. of South Alabamafacopier_usouthal.edu_20121214_150243.pdf

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