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IRS payroll forms

Eight IRS payroll forms that 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 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.

IRS 1099 forms

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.”

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.

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.

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.

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.

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.

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.

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.

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.”

Employee Handbook

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 of 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.

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.

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.

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.

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.

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.

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.

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.

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.

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