IS THE AMOUNT OF YOUR QUARTERLY TAXES LESS THAN $5?

Beginning with your first quarter 2002 unemployment insurance (UI) tax report, if the amount due for this quarterly report is less than $5, you are not required to pay that amount. This nonpayment of taxes became effective January 1, 2002. The nonpayment of taxes impacts wage reports for the first quarter 2002 and subsequent quarters.

In this newsletter, we are providing you with an example of the Form UITR-77, Worksheet for Potential Payment Waiver, that will assist you in completing your Form UITR-1, Unemployment Insurance Tax Report. Form UITR-77 may also be downloaded from the Web site.

The worksheet provides you with the necessary steps to properly calculate the amount of taxes due and to minimize the creation of unnecessary debits or credits to your Colorado employer UI tax account.

For electronic filing of Form UITR-1, Unemployment Insurance Tax Report, we have updated the eServices online tax report at www.coloradoworkforce.com. Once you have accessed the report, enter the required data and click on the Total button. Calculations to determine if your taxes due are less than $5 will be done automatically. You will be informed immediately if your taxes due are less than $5 and if you are not required to remit the amount due.

For each quarter that you are not required to pay the amount of taxes due, your Colorado employer UI tax account will be credited with the amount due. This will benefit you for purposes of the federal Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return, and the annual computation of your Colorado UI tax rate.

The following information is provided to answer potential questions you may have regarding the nonpayment of taxes if the amount is less than $5:

If you are eligible for the 20 percent (0.20) tax credit for the current quarter, this tax credit will be used to reduce the amount due for the report being filed. After computing the 20 percent tax credit, if the amount due is less than $5, you are not required to submit a payment.

You are required to submit the amount due if a regular credit from a prior quarter results in the amount due to be less than $5. A regular credit is a credit that does not include the 20 percent (0.20) tax credit.

If you file a late report for a year prior to 2002, and the total amount due is less than $5, you will need to submit a payment. The new law affects only those tax reports filed for year 2002 and subsequent years.

VISIT OUR WEB SITE FOR ONLINE SERVICES

The Colorado Department of Labor and Employment’s Unemployment Insurance (UI) Program continues to improve and enhance its Web site. We encourage you to try the customer-friendly and easy-to-use eServices.

The following forms may be ordered online:

UITR-1, Unemployment Insurance Tax Report.
UITR-1a, Unemployment Insurance Report of Workers Wages.

The following forms may be ordered online or downloaded:

UITL-2, Employer Change Request.
UITR-3, Unemployment Insurance Tax Report Adjustment.

UITR-6a, Multiple Quarter Adjustment of Worker Wages.
UITR-6c, Social Security Number (SSN) Corrections.
UITR-77, Worksheet for Potential Payment Waiver.

For tax inquiries or further information about the UI Web site, you may contact UI Tax Administration between 8 a.m. and 5 p.m. (Mountain time) Monday through Friday. Telephone: 303-318-9100 (Denver-metro area) or 1-800-480-8299 (outside the Denver-metro area) E-mail: unemp.tax@state.co.us

EXTENDED UNEMPLOYMENT BENEFITS

Congress passed a bill to make an additional 13 weeks of benefits available to eligible claimants. These additional benefits are available through a program called Temporary Extended Unemployment Compensation, (TEUC). The funds used to supply additional benefits come from a federal pool fund and are not charged back to any employer’s account.

TAX SURVEY

May we take a few minutes of your time in order to save taxpayer’s money by asking you to complete an online questionnaire? In a continuing effort to reduce costs associated with printing and mailing of our continuous wage form (UITR-1a, Unemployment Insurance Report of Workers Wages) and tax form (UITR-1, Unemployment Insurance Tax Report), your input is appreciated. Thank you in advance for completing this questionnaire. This questionnaire will only be available from July 10-22, 2002. Your input is important to us in providing you with quality customer service and reducing the costs associated with the unemployment insurance reporting process.

It only takes 2 ½ minutes to complete this survey online. The results from this survey will be in our next newsletter.

WORKSHEET FOR POTENTIAL PAYMENT WAIVER

The following Form UITR-77, Worksheet for Potential Payment Waiver, is provided to calculate the amount of taxes due 2002 and subsequent years. Form UITR-77 may also be downloaded from the Web site.

Before filling out this worksheet, you must first complete your Form UITR-1, Unemployment Insurance Tax Report, (through Line 15) and the Form UITR-73, Tax-Credit-Calculation Worksheet, which is enclosed with your tax report if you meet the criteria for the 20 percent (0.20) tax credit.

Please keep the completed worksheet for your files. It should not be submitted with your Unemployment Insurance Tax Report.

Colorado Employer Account Number
Quarter/Year Being Calculated

1. 1. Enter the sum of Lines 12, 13, and 14 from Form UITR-1, Unemployment Insurance Tax Report.
2. 2. Enter your Tax Credit, if applicable, from Form UITR-73, Tax-Credit-Calculation Worksheet.
3. 3. Enter amount due this quarter, which is the result of Line 1 minus Line 2.(from this worksheet). If the result is less than $5, enter zero.
4. 4. Additional debit or credit amount; add or subtract the amount, as appropriate. (Enter this amount on Line 15 of your Unemployment Insurance Tax Report.) 5. NOTE: The reverse side of the tax report references the form from which you can get debit or credit amounts.
5. 5. Total amount due, which is the sum of Lines 3 and 4 (From this worksheet). Enter this amount on Line 16 of your Unemployment Insurance Tax Report.

For further information about Form UITR-77 or to order the form, you may contact UI Tax Administration between 8 a.m. and 5 p.m. (Mountain time) Monday through Friday:

Telephone: 303-318-9100 (Denver-metro area)

or 1-800-480-8299 (outside the Denver-metro area)

Do you have a job opening?

Will you hire a young person?

The Governor’s Summer Job Hunt 2002 offers free services to employers and Colorado youth ages 16 to 21 years of age. Since 1981, Colorado employers have hired more than 210,000 young people with the help from our employment specialists.

We have employment specialists from more than 40 Workforce Center offices throughout Colorado to: