Here are some important dates to remember for the month of February.

Wednesday - February 15, 2006

• Deadline for employers to obtain a new W-4 from an employee who claimed tax exempt in 2005 and would like to continue it for 2006.  

Tuesday - February 28, 2006

• Deadline for those who made payments to independent contractors and certain other payments to file Form 1099 with the IRS.  Due date is March 31, 2006 if reporting is done electronically. 
• Deadline for employers to file Form W-3, Transmittal of Wage and Tax Statement, with the Social Security Administration.

The following statistics are based on all offers in compromise that were submitted to the IRS during the years 2001 through 2004.

Tax Year 2004

• Number of offers received: 106,000
• Number of offers accepted: 20,000
• Percentage of total accepted: 19%
• Average amount of each offer: $14,000

Tax Year 2003

• Number of offers received: 128,000
• Number of offers accepted: 22,000
• Percentage of total accepted: 17%
• Average amount of each offer: $11,000

Tax Year 2002

• Number of offers received: 124,000
• Number of offers accepted: 29,000
• Percentage of total accepted: 23%
• Average amount of each offer: $10,000

Tax Year 2001

• Number of offers received: 125,000
• Number of offers accepted: 39,000
• Percentage of total accepted: 31%
• Average amount of each offer: $9,000

SOURCE: IRS Data Book, FY 2004, Publication 55b.