Calendar

Question 1

Due date for furnishing ee Form W-2 or payee Form 1099?

Answer 1

By January 31st

Question 2

Which forms to file by january 31st

Answer 2

Form 941 if 4th Qtr. tax liability is less than $2,500
Form 944 if the IRS notified you.
Form 940. Form 945.
If you deposited all taxes when due, you have 10 additional calendar days to file.

Question 3

What happens when you have exempt employees

Answer 3

By February 15, Ask for a new Form W-4 from ee who claimed exemption from income tax withholding last year.

Question 4

By February 28

Answer 4

File paper Forms 1099 and 1096
File paper Forms W-2 and W-3
File paper From 8027 (Tip income and Allocated Tips info return)

Question 5

By March 31

Answer 5

File electronic Forms 1099, 8027, and W-2

Question 6

What is FUTA? and when is it due?

Answer 6

Federal Unemployment Tax Act (payroll tax)

Deposit FUTA tax due if it is more than $500 by 4/30, 7/31, 10/31, and 1/31

Question 7

If your total tax liability for the quarter is less than $2500, when do you file?

Answer 7

File Form 941 by 4/30, 7/31, 10/31, and 1/31

Question 8

Before December 1

Answer 8

Remind ee to submit a new Form W-4 if their status or withholding allowances have changed.