Payroll education center
IRS payroll forms
Whether you're running small business payroll for the first time, or you're a payroll veteran looking for a refresher, these are the IRS payroll forms every small business needs to know about.
IRS Form 940
Form 940 is a document the IRS collects from employers annually. The form is designed to help both small businesses and the IRS get on the same page about the Federal Unemployment (FUTA) tax owed.
IRS Form 941
Form 941, in a nutshell, is a document the IRS requires employers to file quarterly. It’s designed to help the IRS and employers, themselves, figure out how much income tax and Federal Insurance Contribution Act (FICA) tax a small business owes to the federal government, on a quarterly basis.
IRS Form 944
Form 944 is a document the IRS requires some employers to file annually. The form helps both the employer and the IRS keep track of how much income tax and Federal Insurance Contribution Act (or FICA) tax that employer owes to the federal government, on an annual basis.
IRS Form W-2
For one, the IRS and SSA use W-2 forms to keep track of the wages, salary, commission, and tips individuals receive throughout the year—and to ensure that income is reported on the individual’s tax return. Individuals also use their W-2 forms to fill out and submit with their annual tax return.
IRS Form W-3
The IRS and SSA use Form W-3 to track the wages, salary, commission, tips, and other compensation employers pay out throughout the year. The form also reports the total income and Federal Insurance Contribution Act (FICA) taxes withheld from employee paychecks.
IRS Form W-4
It’s how employers tell the IRS and other tax authorities that they’ve hired a new employee. Form W-4 also tells you, the employer, how much income and Federal Insurance Contribution Act (FICA) tax to withhold from each employee’s paycheck.
IRS Form W-9
Need to send someone your Taxpayer Identification Number (TIN)? The form W-9 is used by the IRS to confirm this information. Read on to learn more about the W-9.
IRS Form I-9
Need to verify and authorize an employee to work in the U.S.? Learn about the I-9 Form, the Employment Eligibility Form, and how you can submit it to the IRS.
IRS 1095 forms
1095 forms are a group of documents introduced by the Affordable Care Act (ACA) in 2014, and they include forms 1095-A, 1095-B, and 1095-C. Under the ACA, employers and health insurance providers are responsible for submitting the relevant 1095 form annually.
What is a 1099 Form?
1099 forms are a series of documents known as “information returns.” The IRS uses these forms to keep track of the income individuals earn outside of their regular salary. As Nerdwallet puts it, “A 1099 tax form is a record that an entity or person—not your employer—gave or paid you money.”
IRS Form 7004
Need an extension on submitting tax forms? Form 7004 may be what you need. Learn what Form 7004s are, if they apply to you, and how to submit them to the IRS.
Use this employee handbook template as a guide for your employees to understand everything there is to know about your business—from your Code of Conduct to all the benefits and perks you offer them.
Employee handbook overview
Employee handbooks are used as a reference for all of your employees to understand your company’s mission, policies, and guidelines. This overview will help you understand the importance of a handbook for your business.
1. Employment basics
There’s no better place to start than with the basics. This chapter will help your employees in understanding the frequently asked questions about all things employment-related from referrals to attendance policies.
2. Workplace policies
A safe work environment is a necessity when running a business. Establishing workplace policies in case an issue arises can literally be a life-saver in a time of emergency and can also help in creating an inclusive, welcoming environment for all.
3. Code of conduct
Your employees expect fairness from you, and you should expect the same from them. A code of conduct for your employees will help them understand how you expect them to behave inside, and in some cases outside of the office.
4. Compensation and development
Lets face it - your employees aren’t working for free and they expect to get paid a fair amount in a timely manner. This chapter will make it crystal clear how and when they will be rewarded for their hard work.
5. Benefits and perks
No matter what type of work you do, attracting and retaining top talent is a difficult task. However, you can make it easier by offering a wide array of benefits and perks such as wellness budgets and parking spots to keep your best employees happy.
6. Working hours, PTO, and vacation
Whether you’re staying at home or touring the world - everybody loves a little time away from work. Help your employees understand when they can take their time off with an easy to find and easy to understand vacation policy.
7. Employee resignation and termination
While it’s never fun, losing an employee, whether it’s voluntarily or involuntarily is part of running a business. Make sure you’re on the same page as your employees in case this time comes with this chapter on employee resignation and termination.