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Form Instruction 1120 & 1120-A online LA: What You Should Know
The application must be filed by paper filing (or with an electronic filing system) no later than Jan 1, 2025 or a 5-year extension may be obtained. If you are unable to complete your tax return online, complete it and return it to us by mail: Corporate Franchise Tax Division, Office of Business Development, 501 Louisiana St., Baton Rouge, LA 70803. FICA — FICA Exemption for Employees or Dependents — FICA is a tax imposed by the Internal Revenue Code on individuals subject to the Social Security taxes and Medicare taxes. Under IRC section 4071 (c) (6) and (7), no income tax is imposed on employees. IRC section 4071(c) (1) does not relieve employees of Social Security (SSA) and Medicare taxes. Therefore, as a general matter, section 4071(c) requires that the employee's gross wages be included in the gross income of the individual who receives it. If section 41, Tax Code Section 1, applies to the employee's remuneration or wages, IRC section 41(c) (1) requires that the portion of the wages which are not included in the employee's gross income in effect January 1, 2010, and which the employee would have accrued under this section, if section 41 had not been enacted, be counted as part of the employee's gross income. IRC section 41(c) (1) is available only if the employee's “employer” is a “business enterprise” within the meaning of IRC section 401(a) (1), who would be subject to section 4071(c)(6) as well as section 401(a) (1) as a “business enterprise”. The Internal Revenue Service does not currently estimate the amounts used to determine the tax exclusion for the employee from section 41. The income tax exclusion amount is 0.00 for Social Security taxes and 0.00 for Medicare taxes. Included in Earned Annual Income for the Tax Year IRS Publication 514, Employer's Supplemental Tax Guide, outlines the eligibility rules for various credits, deductions, and exclusions.
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