Depositing & Reporting Withheld
Taxes
Presented by
Tracie M. Sawade, CPP
EIN
• Employer Identification Numbers
– How to file
– Why you need one
– What does it do
• Depositor Status
• Deposit Requirements
Tax Deposit Rules
• Look-back Period
– What period to look at
– 941
– 945
– When does status change?
• Shortfall Rule
Depositing Taxes
• EFTPS
– Two methods
• Form 9779
• Form 8109 and 8109-B
• Penalties
Reporting Withheld Taxes
• Employment Tax Return form 941 and 941
schedule B
• Non-payroll withholding form 945 and
945A
• Agricultural reporting form 943 and 943A
• Delinquent Employer reporting form 941M
• Payroll outside the US forms 941PR and
941SS
• Penalties
Information Reporting for
Employees and Non-employees
• Form W-2
– Due dates
– Terminated employees
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Form W-3
Form 1099 Series
Form 1096
Penalties
Electronic Forms
• W-2s and W-2Cs
– Employees, SSA
– Tricks and tips
– SSA website
– APA website
• 941
Correcting Reports and Information
Returns
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Form 941C
Form 843
Form W-2C
Form W-3C
Mergers & Acquisitions
• Successor vs. predecessor
• Who has responsibility?
• 941D to reconcile
• When are W-2s due?
Third Party Representation
• Form 2678
• Form 2848
Forms to Remember
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Form SS4
941, 941 schedule B, 941M,
943, 943A, 945, 945A
8109, 8109-B
1099MISC, 1099R, 1096
W-2, W-3
941C, 843, W-2C, W-3C
Questions
Thanks for coming.
• Remember
– Study Hard
– Take practice exams
– Ask for help
– Don’t give up!
– Find success!