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Hi, Hustler!
What are you up to these days?
Probably all too busy planning and setting up your business.
Great! May you have lots of success!
Why are we here today?
Well to share with you something really important.
Once you setup your company and start running your business, you might feel the need to hire employees to help you with your daily business activities— if not initially, then eventually at some point.
When you do hire employees, you’ll of course, need to pay them their salaries – and file all sorts of payroll tax forms.
That’s when this list, which we’ll be sharing with you next, will serve to assist you in identifying what tax forms you’ll need to run a federally-compliant business.
So without any further ado, here is the list:
A List of Important Federal Payroll Tax Forms: Employee Edition
Form I-9
Form I-9 is used for verifying the identities of your employees and whether they legally qualify to work in the U.S. For every employee, you’re required to complete a separate I-9 form. The forms must be retained by you in case the government ever requests them.
Where to get form I-9?
You can download form I-9 by clicking here.
Form W-4
Form W-4 is completed by your employees and indicates how much wages you need to withhold from their payroll intaxes.
Where to get form W-4?
You can download form W-4 by clicking here.
Form W-2
Form W-2 is used for reporting wages that you paid to your employees for the tax year and the part of wages that you withheldin taxes from their payroll. Like form I-9, you’re required to complete and file a separate W-2 form for every employee. All W-2 forms must be sent to the Social Security Administration (SSA) by January 31st of every year.
Where to get form W-2?
You can download form W-2 by clicking here.
Form 941
Form 941 is used for reporting employees’ wages and withholdings on a quarterly basis. It must be filled and sent to the IRS by April 30th, July 31st and October 31st of every year, and January 31st of the following year.
Where to get form 941?
You can download form 941 by clicking here.
Sure, employee federal payroll tax forms are confusing, but the way you keep tabs on them doesn’t have to be. Save this list and refer to it whenever you need a refresher on employee federal payroll tax forms. If needed, you can take help of some of the top accounting consulting firms to get through this process.
For further reading: Knock, Knock! Hello Sir, This is Small Business Audit Team!
Categories: Tax
