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Ez 1040 Online

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Ez 1040 Online

Ez 1040 online 1. Ez 1040 online   Canceled Debts Table of Contents General RulesForm 1099-C Discounts and loan modifications Sales or other dispositions (such as foreclosures and repossessions) Abandonments Stockholder debt This chapter discusses the tax treatment of canceled debts. Ez 1040 online General Rules Generally, if a debt for which you are personally liable is forgiven or discharged for less than the full amount owed, the debt is considered canceled in whatever amount it remained unpaid. Ez 1040 online There are exceptions to this rule, discussed under Exceptions , later. Ez 1040 online Generally, you must include the canceled debt in your income. Ez 1040 online However, you may be able to exclude the canceled debt. Ez 1040 online See Exclusions , later. Ez 1040 online Example. Ez 1040 online John owed $1,000 to Mary. Ez 1040 online Mary agreed to accept and John paid $400 in satisfaction of the entire debt. Ez 1040 online John has canceled debt of $600. Ez 1040 online Example. Ez 1040 online Margaret owed $1,000 to Henry. Ez 1040 online Henry and Margaret agreed that Margaret would provide Henry with services (instead of money) in full satisfaction of the debt. Ez 1040 online Margaret does not have canceled debt. Ez 1040 online Instead, she has income from services. Ez 1040 online A debt includes any indebtedness: For which you are liable, or Subject to which you hold property. Ez 1040 online Debt for which you are personally liable is recourse debt. Ez 1040 online All other debt is nonrecourse debt. Ez 1040 online If you are not personally liable for the debt, you do not have ordinary income from the cancellation of debt unless you retain the collateral and either: The lender offers a discount for the early payment of the debt, or The lender agrees to a loan modification that results in the reduction of the principal balance of the debt. Ez 1040 online See Discounts and loan modifications , later. Ez 1040 online However, upon the disposition of the property securing a nonrecourse debt, the amount realized includes the entire unpaid amount of the debt, not just the FMV of the property. Ez 1040 online As a result, you may realize a gain or loss if the outstanding debt immediately before the disposition is more or less than your adjusted basis in the property. Ez 1040 online For more details on figuring your gain or loss, see chapter 2 of this publication or see Publication 544. Ez 1040 online There are several exceptions and exclusions that may result in part or all of a canceled debt being nontaxable. Ez 1040 online See Exceptions and Exclusions, later. Ez 1040 online You must report any taxable canceled debt as ordinary income on: Form 1040 or Form 1040NR, line 21, if the debt is a nonbusiness debt; Schedule C (Form 1040), line 6 (or Schedule C-EZ (Form 1040), line 1), if the debt is related to a nonfarm sole proprietorship; Schedule E (Form 1040), line 3, if the debt is related to nonfarm rental of real property; Form 4835, line 6, if the debt is related to a farm rental activity for which you use Form 4835 to report farm rental income based on crops or livestock produced by a tenant; or Schedule F (Form 1040), line 8, if the debt is farm debt and you are a farmer. Ez 1040 online Form 1099-C If you receive a Form 1099-C, that means an applicable entity has reported an identifiable event to the IRS regarding a debt you owe. Ez 1040 online The identifiable event may be an actual cancellation of the debt or it may be an event the applicable entity is required, solely for purposes of reporting to the IRS, to treat as a cancellation of debt. Ez 1040 online For information on the reasons an applicable entity files Form 1099-C, see Identifiable event codes, later. Ez 1040 online Unless you meet one of the exceptions or exclusions discussed later, this canceled debt is ordinary income and must be reported on the appropriate form discussed above. Ez 1040 online An applicable entity includes: A federal government agency, A financial institution, A credit union, and Any organization a significant trade or business of which is lending money. Ez 1040 online Identifiable event codes. Ez 1040 online    Box 6 of Form 1099-C should indicate the reason the creditor filed this form. Ez 1040 online The codes shown in box 6 are explained below. Ez 1040 online Also see the chart after the explanation for a quick reference guide for the codes used in Box 6. Ez 1040 online Note. Ez 1040 online Codes A through G and I identify specific occurrences resulting from an actual discharge of indebtedness. Ez 1040 online However, Code H, Expiration of nonpayment testing period, does not necessarily identify an actual discharge of indebtedness. Ez 1040 online Code A — Bankruptcy. Ez 1040 online Code A is used to identify cancellation of debt as a result of a title 11 bankruptcy case. Ez 1040 online See Bankruptcy , later. Ez 1040 online Code B — Other judicial debt relief. Ez 1040 online Code B is used to identify cancellation of debt as a result of a receivership, foreclosure, or similar federal or state court proceeding other than bankruptcy. Ez 1040 online Code C — Statute of limitations or expiration of deficiency period. Ez 1040 online Code C is used to identify cancellation of debt either when the statute of limitations for collecting the debt expires or when the statutory period for filing a claim or beginning a deficiency judgment proceeding expires. Ez 1040 online In the case of the expiration of a statute of limitations, an identifiable event occurs only if and when your affirmative defense of the statute of limitations is upheld in a final judgment or decision in a judicial proceeding, and the period for appealing the judgment or decision has expired. Ez 1040 online Code D — Foreclosure election. Ez 1040 online Code D is used to identify cancellation of debt when the creditor elects foreclosure remedies that statutorily end or bar the creditor's right to pursue collection of the debt. Ez 1040 online This event applies to a mortgage lender or holder who is barred from pursuing debt collection after a power of sale in the mortgage or deed of trust is exercised. Ez 1040 online Code E — Debt relief from probate or similar proceeding. Ez 1040 online Code E is used to identify cancellation of debt as a result of a probate court or similar legal proceeding. Ez 1040 online Code F — By agreement. Ez 1040 online Code F is used to identify cancellation of debt as a result of an agreement between the creditor and the debtor to cancel the debt at less than full consideration. Ez 1040 online Code G — Decision or policy to discontinue collection. Ez 1040 online Code G is used to identify cancellation of debt as a result of a decision or a defined policy of the creditor to discontinue collection activity and cancel the debt. Ez 1040 online For purposes of this identifiable event, a defined policy includes both a written policy and the creditor's established business practice. Ez 1040 online Code H — Expiration of nonpayment testing period. Ez 1040 online Code H is used to indicate that the creditor has not received a payment on the debt during a testing period ending on December 31, 2013. Ez 1040 online The testing period is a 36-month period increased by the number of months the creditor was prevented from engaging in collection activity by a stay in bankruptcy or similar bar under state or local law. Ez 1040 online This identifiable event applies only for a creditor that is a financial institution or credit union (and certain of their subsidiaries), the Federal Deposit Insurance Corporation (FDIC), Resolution Trust Corporation (RTC), National Credit Union Administration (NCUA), and other Federal executive agencies. Ez 1040 online Expiration of the nonpayment testing period does not necessarily result from an actual discharge of indebtedness. Ez 1040 online Code I — Other actual discharge before identifiable event. Ez 1040 online Code I is used to identify an actual cancellation of debt that occurs before any of the identifiable events described in codes A through H. Ez 1040 online Form 1099-C Reference Guide for Box 6 Identifiable Event Codes A Bankruptcy B Other judicial debt relief C Statute of limitations or expiration of deficiency period D Foreclosure election E Debt relief from probate or similar proceeding F By agreement G Decision or policy to discontinue collection H Expiration of nonpayment testing period I Other actual discharge before identifiable event Even if you did not receive a Form 1099-C, you must report canceled debt as gross income on your tax return unless one of the exceptions or exclusions described later applies. Ez 1040 online Amount of canceled debt. Ez 1040 online    The amount in box 2 of Form 1099-C may represent some or all of the debt that has been canceled or treated as canceled. Ez 1040 online The amount in box 2 will include principal and may include interest and other nonprincipal amounts (such as fees or penalties). Ez 1040 online Unless you meet one of the exceptions or exclusions discussed later, the amount of the debt that has been canceled is ordinary income and must be reported on the appropriate form as discussed earlier. Ez 1040 online Interest included in canceled debt. Ez 1040 online    If any interest is included in the amount of canceled debt in box 2, it will be shown in box 3. Ez 1040 online Whether the interest portion of the canceled debt must be included in your income depends on whether the interest would be deductible if you paid it. Ez 1040 online See Deductible Debt under Exceptions, later. Ez 1040 online Persons who each receive a Form 1099-C showing the full amount of debt. Ez 1040 online    If you and another person were jointly and severally liable for a canceled debt, each of you may get a Form 1099-C showing the entire amount of the canceled debt. Ez 1040 online However, you may not have to report that entire amount as income. Ez 1040 online The amount, if any, you must report depends on all the facts and circumstances, including: State law, The amount of debt proceeds each person received, How much of any interest deduction from the debt was claimed by each person, How much of the basis of any co-owned property bought with the debt proceeds was allocated to each co-owner, and Whether the canceled debt qualifies for any of the exceptions or exclusions described in this publication. Ez 1040 online See Example 3 under Insolvency, later. Ez 1040 online Discounts and loan modifications If a lender discounts (reduces) the principal balance of a loan because you pay it off early, or agrees to a loan modification (a “workout”) that includes a reduction in the principal balance of a loan, the amount of the discount or the amount of principal reduction is canceled debt. Ez 1040 online However, if the debt is nonrecourse and you did not retain the collateral, you do not have cancellation of the debt income. Ez 1040 online The amount of the canceled debt must be included in income unless one of the exceptions or exclusions described later applies. Ez 1040 online For more details, see Exceptions and Exclusions, later. Ez 1040 online Sales or other dispositions (such as foreclosures and repossessions) Recourse debt. Ez 1040 online   If you owned property that was subject to a recourse debt in excess of the FMV of the property, the lender's foreclosure or repossession of the property is treated as a sale or disposition of the property by you and may result in your realization of gain or loss. Ez 1040 online The gain or loss on the disposition of the property is measured by the difference between the FMV of the property at the time of the disposition and your adjusted basis (usually your cost) in the property. Ez 1040 online The character of the gain or loss (such as ordinary or capital) is determined by the character of the property. Ez 1040 online If the lender forgives all or part of the amount of the debt in excess of the FMV of the property, the cancellation of the excess debt may result in ordinary income. Ez 1040 online The ordinary income from the cancellation of debt (the excess of the canceled debt over the FMV of the property) must be included in your gross income reported on your tax return unless one of the exceptions or exclusions described later applies. Ez 1040 online For more details, see Exceptions and Exclusions, later. Ez 1040 online Nonrecourse debt. Ez 1040 online   If you owned property that was subject to a nonrecourse debt in excess of the FMV of the property, the lender's foreclosure on the property does not result in ordinary income from the cancellation of debt. Ez 1040 online The entire amount of the nonrecourse debt is treated as an amount realized on the disposition of the property. Ez 1040 online The gain or loss on the disposition of the property is measured by the difference between the total amount realized (the entire amount of the nonrecourse debt plus the amount of cash and the FMV of any property received) and your adjusted basis in the property. Ez 1040 online The character of the gain or loss is determined by the character of the property. Ez 1040 online More information. Ez 1040 online    See Publications 523, 544, and 551, and chapter 2 of this publication for more details. Ez 1040 online Abandonments Recourse debt. Ez 1040 online   If you abandon property that secures a debt for which you are personally liable (recourse debt) and the debt is canceled, you will realize ordinary income equal to the canceled debt. Ez 1040 online You must report this income on your tax return unless one of the exceptions or exclusions described later applies. Ez 1040 online For more details, see Exceptions and Exclusions, later. Ez 1040 online This income is separate from any amount realized from the abandonment of the property. Ez 1040 online For more details, see chapter 3. Ez 1040 online Nonrecourse debt. Ez 1040 online   If you abandon property that secures a debt for which you are not personally liable (nonrecourse debt), you may realize gain or loss but will not have cancellation of indebtedness income. Ez 1040 online Stockholder debt If you are a stockholder in a corporation and the corporation cancels or forgives your debt to it, the canceled debt is a constructive distribution. Ez 1040 online For more information, see Publication 542, Corporations. Ez 1040 online Prev  Up  Next   Home   More Online Publications
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IRS Seeks Volunteers for Taxpayer Advocacy Panel

IR-2014-26, March 10, 2014

WASHINGTON — The Internal Revenue Service seeks civic-minded volunteers to serve on the Taxpayer Advocacy Panel (TAP), a federal advisory committee that listens to taxpayers, identifies major taxpayer concerns, and makes recommendations for improving IRS services.

The TAP provides a forum for taxpayers to raise concerns about IRS service and offer suggestions for improvement. The TAP reports annually to the Secretary of the Treasury, the IRS Commissioner and the National Taxpayer Advocate. The Office of the Taxpayer Advocate is an independent organization within the IRS and provides oversight of the TAP.

“In trying to comply with an increasingly complex tax system, taxpayers may find they need different services than the IRS is currently providing,” said Nina E. Olson, National Taxpayer Advocate. “The TAP is vital because it provides the IRS with the taxpayers’ perspective as well as recommendations for improvement. This helps the IRS deliver the best possible service to assist taxpayers in meeting their tax obligations.”  

The TAP includes members from all 50 states, the District of Columbia and Puerto Rico. Each member is appointed to represent the interests of taxpayers in his or her geographic location as well as taxpayers as a whole.

The TAP is also seeking to include at least one additional member to represent international taxpayers. For these purposes, “international taxpayers” are broadly defined to include U.S. citizens working, living, or doing business abroad or in a U.S. territory. The new international member will not be required to attend any face-to-face meetings.

To be a member of the TAP you must be a U.S. citizen, be current with your federal tax obligations, be able to commit 200 to 300 hours during the year and pass an FBI criminal background check. New TAP members will serve a three-year term starting in December 2014. Applicants chosen as alternate members will be considered to fill any vacancies that open in their areas during the next three years.

The TAP is seeking members in the following locations: Alaska, Arizona, California, Delaware, Idaho, Indiana, Kansas, Kentucky, Massachusetts, Minnesota, Montana, Nevada, New Jersey, New York, Oregon, Pennsylvania, Utah, Vermont, Virginia and International.

The panel needs alternates for the District of Columbia, Florida, Georgia, Illinois, Louisiana, Maryland, North Dakota, Puerto Rico, Rhode Island, South Carolina and West Virginia.

Federal advisory committees are required to have a fairly balanced membership in terms of the points of view represented. As such, candidates from underrepresented groups, including but not limited to U.S. taxpayers living abroad, Native Americans, and non-tax practitioners, are encouraged to apply.

Applications for the TAP will be accepted through April 11, 2014. Applications are available online at www.improveirs.org. For additional information about the TAP or the application process, please call 888-912-1227 (a toll-free call) and select prompt number five. Callers who are outside of the U.S. and U.S. territories should call 954-423-7973 (not a toll-free call). You may also contact the TAP staff at taxpayeradvocacypanel@irs.gov for assistance.

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Page Last Reviewed or Updated: 10-Mar-2014

The Ez 1040 Online

Ez 1040 online 13. Ez 1040 online   Employment Taxes Table of Contents What's New for 2013 What's New for 2014 Reminders Important Dates for 2014 Introduction Topics - This chapter discusses: Useful Items - You may want to see: Farm Employment Family Employees Crew Leaders Social Security and Medicare TaxesReligious exemption. Ez 1040 online Wage limit. Ez 1040 online Federal Income Tax WithholdingNew Form W-4 for 2014. Ez 1040 online Required Notice to Employees About Earned Income Credit (EIC) Reporting and Paying Social Security, Medicare, and Withheld Federal Income TaxesElectronic deposit requirement. Ez 1040 online Federal Unemployment (FUTA) TaxReporting and Paying FUTA Tax What's New for 2013 Social security and Medicare tax for 2013. Ez 1040 online  The employee tax rate for social security is 6. Ez 1040 online 2%. Ez 1040 online Previously, the employee tax rate for social security was 4. Ez 1040 online 2%. Ez 1040 online The employer tax rate for social security remains unchanged at 6. Ez 1040 online 2%. Ez 1040 online The social security wage base limit is $113,700. Ez 1040 online The Medicare tax rate is 1. Ez 1040 online 45% each for the employee and employer, unchanged from 2012. Ez 1040 online There is no wage base limit for Medicare tax. Ez 1040 online Additional Medicare Tax. Ez 1040 online  In addition to withholding Medicare tax at 1. Ez 1040 online 45%, you must withhold a 0. Ez 1040 online 9% Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year. Ez 1040 online You are required to begin withholding Additional Medicare Tax in the pay period in which you pay wages in excess of $200,000 to an employee and continue to withhold it each pay period until the end of the calendar year. Ez 1040 online Additional Medicare Tax is only imposed on the employee. Ez 1040 online There is no employer share of Additional Medicare Tax. Ez 1040 online All wages that are subject to Medicare tax are subject to Additional Medicare Tax withholding if paid in excess of the $200,000 threshold. Ez 1040 online For more information on what wages are subject to Medicare tax, see the chart, Special Rules for Various Types of Services and Payments, in section 15 of Publication 15 (Circular E), Employer's Tax Guide. Ez 1040 online For more information on Additional Medicare Tax, visit IRS. Ez 1040 online gov and enter “Additional Medicare Tax” in the search box. Ez 1040 online Leave-based donation programs to aid victims of Hurricane Sandy. Ez 1040 online  Under these programs, employees may donate their vacation, sick, or personal leave in exchange for employer cash payments made before January 1, 2014, to qualified tax-exempt organizations providing relief for the victims of Hurricane Sandy. Ez 1040 online The donated leave will not be included in the income or wages of the employee. Ez 1040 online The employer may deduct the cash payments as business expenses or charitable contributions. Ez 1040 online For more information, see Notice 2012-69, 2012-51 I. Ez 1040 online R. Ez 1040 online B. Ez 1040 online 712, available at www. Ez 1040 online irs. Ez 1040 online gov/irb/2012-51_IRB/ar09. Ez 1040 online html. Ez 1040 online Work opportunity tax credit for qualified tax-exempt organizations hiring qualified veterans extended. Ez 1040 online  The work opportunity tax credit is now available for eligible unemployed veterans who begin work before January 1, 2014. Ez 1040 online Previously, the credit was available for unemployed veterans who began work on or after November 22, 2011, and before January 1, 2013. Ez 1040 online Qualified tax-exempt organizations that hire eligible unemployed veterans can claim the work opportunity tax credit against their payroll tax liability using Form 5884-C, Work Opportunity Credit for Qualified Tax-Exempt Organizations Hiring Qualified Veterans. Ez 1040 online For more information, visit IRS. Ez 1040 online gov and enter “work opportunity credit” in the search box. Ez 1040 online What's New for 2014 Social security and Medicare tax for 2014. Ez 1040 online  The employee and employer tax rates for social security and the maximum amount of wages subject to social security tax for 2014 will be discussed in Publication 51 (Circular A), Agricultural Employer's Tax Guide (For use in 2014). Ez 1040 online The Medicare tax rate for 2014 will also be discussed in Publication 51 (Circular A) (For use in 2014). Ez 1040 online There is no limit on the amount of wages subject to Medicare tax. Ez 1040 online Reminders Additional employment tax information for farmers. Ez 1040 online  See Publication 51 (Circular A) for more detailed guidance on employment taxes. Ez 1040 online For the latest information about employment tax developments impacting farmers, go to www. Ez 1040 online irs. Ez 1040 online gov/pub51. Ez 1040 online Correcting a previously filed Form 943. Ez 1040 online  If you discover an error on a previously filed Form 943, Employer's Annual Federal Tax Return for Agricultural Employees, make the correction using Form 943-X, Adjusted Employer's Annual Federal Tax Return for Agricultural Employees or Claim for Refund. Ez 1040 online Form 943-X is filed separately from Form 943. Ez 1040 online For more information on correcting Form 943, see the Instructions for Form 943-X. Ez 1040 online Federal tax deposits must be made by electronic funds transfer. Ez 1040 online  You must use electronic funds transfer to make all federal tax deposits. Ez 1040 online Generally, electronic funds transfers are made using the Electronic Federal Tax Payment System (EFTPS). Ez 1040 online If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make electronic deposits on your behalf. Ez 1040 online Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. Ez 1040 online EFTPS is a free service provided by the Department of Treasury. Ez 1040 online Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee. Ez 1040 online For more information on making federal tax deposits, see section 7 of Publication 51 (Circular A). Ez 1040 online To get more information about EFTPS or to enroll in EFTPS, visit www. Ez 1040 online eftps. Ez 1040 online gov or call 1-800-555-4477 or 1-800-733-4829 (TDD). Ez 1040 online Additional information about EFTPS is also available in Publication 966, Electronic Federal Tax Payment System: A Guide To Getting Started. Ez 1040 online Important Dates for 2014 You should take the action indicated by the dates listed. Ez 1040 online See By February 15 and On February 16 for Form W-4, Employee's Withholding Allowance Certificate, information. Ez 1040 online Due dates for deposits of withheld federal income taxes, social security taxes, and Medicare taxes are not listed here. Ez 1040 online For these dates, see Publication 509, Tax Calendars (For use in 2014). Ez 1040 online Note. Ez 1040 online  If any date shown below for filing a return, furnishing a form, or depositing taxes falls on a Saturday, Sunday, or legal holiday, the due date is the next business day. Ez 1040 online A statewide legal holiday delays a filing or furnishing due date only if the IRS office where you are required to file a return or furnish a form is located in that state. Ez 1040 online For any due date, you will meet the “file” or “furnish” date requirement if the envelope containing the tax return or form is properly addressed, contains sufficient postage, and is postmarked by the U. Ez 1040 online S. Ez 1040 online Postal Service by the due date, or sent by an IRS-designated delivery service by the due date. Ez 1040 online See Private delivery services in Publication 51 (Circular A). Ez 1040 online Federal tax deposits can only be made by electronic funds transfer and are governed by legal holidays in the District of Columbia. Ez 1040 online Statewide holidays no longer apply. Ez 1040 online For a list of legal holidays that delay the due date of a federal tax deposit, see section 7 of Publication 51 (Circular A). Ez 1040 online Fiscal year taxpayers. Ez 1040 online  The due dates listed below apply whether you use a calendar or a fiscal year. Ez 1040 online By January 31. Ez 1040 online   File Form 943 with the IRS. Ez 1040 online If you deposited all Form 943 taxes when due, you have 10 additional days to file. Ez 1040 online Furnish each employee with a completed Form W-2, Wage and Tax Statement. Ez 1040 online Furnish each recipient to whom you paid $600 or more in nonemployee compensation with a completed Form 1099 (for example, Form 1099-MISC). Ez 1040 online File Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return, with the IRS. Ez 1040 online If you deposited all the FUTA tax when due, you have 10 additional days to file. Ez 1040 online File Form 945, Annual Return of Withheld Federal Income Tax, with the IRS to report any nonpayroll income tax withheld during 2013. Ez 1040 online If you deposited all Form 945 taxes when due, you have 10 additional days to file. Ez 1040 online By February 15. Ez 1040 online  Ask for a new Form W-4 or Formulario W-4(SP), Certificado de Exención de Retenciones del Empleado, from each employee who claimed exemption from federal income tax withholding last year. Ez 1040 online On February 16. Ez 1040 online  Any Form W-4 claiming exemption from withholding for the previous year has now expired. Ez 1040 online Begin withholding for any employee who previously claimed exemption from withholding but has not given you a new Form W-4 for the current year. Ez 1040 online If the employee does not give you a new Form W-4, withhold taxes based on the last valid Form W-4 you have for the employee that does not claim exemption from withholding or, if one does not exist, as if he or she is single with zero withholding allowances. Ez 1040 online If the employee furnishes a new Form W-4 claiming exemption from withholding after February 15, you may apply the exemption to future wages, but do not refund taxes withheld while the exempt status was not in place. Ez 1040 online By February 28. Ez 1040 online   File paper Forms 1099 and 1096. Ez 1040 online File Copy A of all paper Forms 1099 with Form 1096, Annual Summary and Transmittal of U. Ez 1040 online S. Ez 1040 online Information Returns, with the IRS. Ez 1040 online For electronically filed returns, see By March 31 below. Ez 1040 online File paper Forms W-2 and W-3. Ez 1040 online File Copy A of all paper Forms W-2 with Form W-3, Transmittal of Wage and Tax Statements, with the Social Security Administration (SSA). Ez 1040 online For electronically filed returns, see By March 31 below. Ez 1040 online By March 31. Ez 1040 online   File electronic Forms W-2 and 1099. Ez 1040 online File electronic Forms W-2 with the SSA and Forms 1099 with the IRS. Ez 1040 online For more information on reporting Form W-2 information to the SSA electronically, visit the SSA's Employer W-2 Filing Instructions & Information webpage at www. Ez 1040 online socialsecurity. Ez 1040 online gov/employer. Ez 1040 online For information on filing information returns electronically with the IRS, see Publication 1220, Specifications for Filing Forms 1097, 1098, 1099, 3921, 3922, 5498, 8935, and W-2G Electronically. Ez 1040 online By April 30, July 31, October 31, and January 31. Ez 1040 online   Deposit FUTA taxes. Ez 1040 online Deposit FUTA tax due if it is more than $500. Ez 1040 online Before December 1. Ez 1040 online  Remind employees to submit a new Form W-4 if their withholding allowances have changed or will change for the next year. Ez 1040 online Introduction You are generally required to withhold federal income tax from the wages of your employees. Ez 1040 online You may also be subject to social security and Medicare taxes under the Federal Insurance Contributions Act (FICA) and federal unemployment tax under the Federal Unemployment Tax Act (FUTA). Ez 1040 online You must also withhold Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year. Ez 1040 online This chapter includes information about these taxes. Ez 1040 online You must also pay self-employment tax on your net earnings from farming. Ez 1040 online See chapter 12 for information on self-employment tax. Ez 1040 online Topics - This chapter discusses: Farm employment, Family employees, Crew leaders, Social security and Medicare taxes, Additional Medicare Tax withholding, Federal income tax withholding, Reporting and paying social security, Medicare, and withheld federal income taxes, and FUTA tax. Ez 1040 online Useful Items - You may want to see: Publication 15 (Circular E), Employer's Tax Guide 15-A Employer's Supplemental Tax Guide 15-B Employer's Tax Guide to Fringe Benefits 51 (Circular A), Agricultural Employer's Tax Guide 926 Household Employer's Tax Guide Form (and Instructions) W-2 Wage and Tax Statement W-4 Employee's Withholding Allowance Certificate W-9 Request for Taxpayer Identification Number and Certification 940 Employer's Annual Federal Unemployment (FUTA) Tax Return 943 Employer's Annual Federal Tax Return for Agricultural Employees 943-X Adjusted Employer's Annual Federal Tax Return for Agricultural Employees or Claim for Refund See chapter 16 for information about getting publications and forms. Ez 1040 online Farm Employment In general, you are an employer of farmworkers if your employees do any of the following types of work. Ez 1040 online Raising or harvesting agricultural or horticultural products on a farm, including raising and feeding of livestock. Ez 1040 online Operating, managing, conserving, improving, or maintaining your farm and its tools and equipment. Ez 1040 online Services performed in salvaging timber, or clearing land of brush and other debris, left by a hurricane (also known as hurricane labor). Ez 1040 online Handling, processing, or packaging any agricultural or horticultural commodity if you produced more than half of the commodity (for a group of up to 20 unincorporated operators, all of the commodity). Ez 1040 online Work related to cotton ginning, turpentine, gum resin products, or the operation and maintenance of irrigation facilities. Ez 1040 online For more information, see Publication 51 (Circular A). Ez 1040 online Generally, a worker who performs services for you is your employee if you have the right to control what will be done and how it will be done. Ez 1040 online This is so even when you give the employee freedom of action. Ez 1040 online What matters is that you have the right to control the details of how the services are performed. Ez 1040 online You are responsible for withholding and paying employment taxes for your employees. Ez 1040 online You are also required to file employment tax returns. Ez 1040 online These requirements do not apply to amounts that you pay to independent contractors. Ez 1040 online See Publication 15-A for more information on how to determine whether an individual providing services is an independent contractor or an employee. Ez 1040 online If you employ a family of workers, each worker subject to your control (not just the head of the family) is an employee. Ez 1040 online Special rules apply to crew leaders. Ez 1040 online See Crew Leaders , later. Ez 1040 online Employer identification number (EIN). Ez 1040 online   If you have employees, you must have an EIN. Ez 1040 online If you do not have an EIN, you may apply for one online. Ez 1040 online Go to IRS. Ez 1040 online gov and click on the Apply for an EIN Online link under Tools. Ez 1040 online You may also apply for an EIN by calling 1-800-829-4933 or 1-800-829-4059 (TDD/TTY for persons who are deaf, hard of hearing, or have a speech disability). Ez 1040 online The hours of operation for both numbers are Monday–Friday form 7:00 a. Ez 1040 online m. Ez 1040 online –7:00 p. Ez 1040 online m. Ez 1040 online local time (Alaska and Hawaii follow Pacific time). Ez 1040 online You can also fax or mail Form SS-4, Application for Employer Identification Number, to the IRS. Ez 1040 online Employee's social security number (SSN). Ez 1040 online   An employee who does not have an SSN should submit Form SS-5, Application for a Social Security Card, to the Social Security Administration (SSA). Ez 1040 online Form SS-5 is available from any SSA office or by calling 1-800-772-1213 (operates 24 hours per day). Ez 1040 online It is also available from the SSA's website at www. Ez 1040 online socialsecurity. Ez 1040 online gov. Ez 1040 online   The employee must furnish evidence of age, identity, and U. Ez 1040 online S. Ez 1040 online citizenship or lawful immigration status permitting employment with the Form SS-5. Ez 1040 online An employee who is age 18 or older must appear in person with this evidence at an SSA office. Ez 1040 online Form I-9. Ez 1040 online    You must verify that each new employee is legally eligible to work in the United States. Ez 1040 online This includes completing the Form I-9, Employment Eligibility Verification. Ez 1040 online Form I-9 is available from the U. Ez 1040 online S. Ez 1040 online Citizenship and Immigration Services (USCIS) offices or by calling the Bureau of Citizenship and Immigration Services Forms Request Line at 1-800-870-3676. Ez 1040 online Form I-9 is also available from the USCIS website at www. Ez 1040 online uscis. Ez 1040 online gov. Ez 1040 online You can also contact the USCIS at 1-800-375-5283 for more information. Ez 1040 online New hire reporting. Ez 1040 online   You are required to report any new employee to a designated state new hire registry. Ez 1040 online Many states accept a copy of Form W-4 with employer information added. Ez 1040 online Visit the Office of Child Support Enforcement website at www. Ez 1040 online acf. Ez 1040 online hhs. Ez 1040 online gov/programs/cse/newhire for more information. Ez 1040 online Family Employees Generally, the wages you pay to family members who are your employees are subject to employment taxes. Ez 1040 online However, certain exemptions may apply to wages paid to your child, spouse, or parent. Ez 1040 online Exemptions for your child. Ez 1040 online   Payments for the services of your child under age 18 who works for you in your trade or business (including a farm) are not subject to social security and Medicare taxes. Ez 1040 online However, see Nonexempt services of a child or spouse , later. Ez 1040 online Payments for the services of your child under age 21 employed by you in other than a trade or business, such as payments for household services in your home, are also not subject to social security or Medicare taxes. Ez 1040 online Payments for the services of your child under age 21 employed by you, whether or not in your trade or business, are not subject to FUTA tax. Ez 1040 online Although not subject to social security, Medicare, or FUTA tax, the child's wages still may be subject to federal income tax withholding. Ez 1040 online Exemptions for your spouse. Ez 1040 online   Payments for the services of your spouse who works for you in your trade or business are subject to federal income tax withholding and social security and Medicare taxes, but not FUTA tax. Ez 1040 online   Payments for the services of your spouse employed by you in other than a trade or business, such as payments for household services in your home, are not subject to social security, Medicare, or FUTA taxes. Ez 1040 online Nonexempt services of a child or spouse. Ez 1040 online   Payments for the services of your child or spouse are subject to federal income tax withholding as well as social security, Medicare, and FUTA taxes if he or she works for any of the following entities. Ez 1040 online A corporation, even if it is controlled by you. Ez 1040 online A partnership, even if you are a partner. Ez 1040 online This does not apply to wages paid to your child if each partner is a parent of the child. Ez 1040 online An estate or trust, even if it is the estate of a deceased parent. Ez 1040 online In these situations, the child or spouse is considered to work for the corporation, partnership, or estate, not you. Ez 1040 online Exemptions for your parent. Ez 1040 online   Payments for the services of your parent employed by you in your trade or business are subject to federal income tax withholding and social security and Medicare taxes. Ez 1040 online Social security and Medicare taxes do not apply to wages paid to your parent for services not in your trade or business, but they do apply to payments for household services in your home if both the following conditions are satisfied. Ez 1040 online You have a child living in your home who is under age 18 or has a physical or mental condition that requires care by an adult for at least 4 continuous weeks in a calendar quarter. Ez 1040 online You are a widow or widower; or divorced and not remarried; or have a spouse in the home who, because of a physical or mental condition, cannot care for your child for at least 4 continuous weeks in the quarter. Ez 1040 online   Wages you pay to your parent are not subject to FUTA tax, regardless of the type of services provided. Ez 1040 online Qualified joint venture. Ez 1040 online   If spouses elect to be treated as a qualified joint venture instead of a partnership, either spouse may report and pay the employment taxes due on the wages paid to employees using the EIN of that spouse's sole proprietorship. Ez 1040 online For more information about qualified joint ventures, see chapter 12. Ez 1040 online Crew Leaders If farmworkers are provided by a crew leader, the crew leader may be the employer of the workers. Ez 1040 online Social security and Medicare taxes. Ez 1040 online   For social security and Medicare tax purposes, the crew leader is the employer of the workers if both of the following requirements are met. Ez 1040 online The crew leader pays (either on his or her own behalf or on behalf of the farmer) the workers for their farm labor. Ez 1040 online The crew leader has not entered into a written agreement with the farmer under which the crew leader is designated as an employee of the farmer. Ez 1040 online Federal income tax withholding. Ez 1040 online   If the crew leader is the employer for social security and Medicare tax purposes, the crew leader is the employer for federal income tax withholding purposes. Ez 1040 online Federal unemployment (FUTA) tax. Ez 1040 online   For FUTA tax purposes, the crew leader is the employer of the workers if, in addition to the earlier requirements, either of the following requirements are met. Ez 1040 online The crew leader is registered under the Migrant and Seasonal Agricultural Worker Protection Act. Ez 1040 online Substantially all crew members operate or maintain mechanized equipment provided by the crew leader as part of the service to the farmer. Ez 1040 online   The farmer is the employer of workers furnished by a crew leader in all other situations. Ez 1040 online In addition, the farmer is the employer of workers furnished by a registered crew leader if the workers are the employees of the farmer under the common-law test. Ez 1040 online For example, some farmers employ individuals to recruit farmworkers exclusively for them. Ez 1040 online Although these individuals may be required to register under the Migrant and Seasonal Agricultural Worker Protection Act, the workers are employed directly by the farmer. Ez 1040 online The farmer is the employer in these cases. Ez 1040 online For information about common-law employees, see section 1 of Publication 15-A. Ez 1040 online For information about crew leaders, see the Department of Labor website at www. Ez 1040 online dol. Ez 1040 online gov/whd/regs/compliance/whdfs49. Ez 1040 online htm. Ez 1040 online Social Security and Medicare Taxes All cash wages you pay to an employee during the year for farmwork are subject to social security and Medicare taxes if you meet either of the following tests. Ez 1040 online You pay the employee $150 or more in cash wages (count all wages paid on a time, piecework, or other basis) during the year for farmwork (the $150 test). Ez 1040 online The $150 test applies separately to each farmworker that you employ. Ez 1040 online If you employ a family of workers, each member is treated separately. Ez 1040 online Do not count wages paid by other employers. Ez 1040 online You pay cash and noncash wages of $2,500 or more during the year to all your employees for farmwork (the $2,500 test). Ez 1040 online If the $2,500 test for the group is not met, the $150 test for an employee still applies. Ez 1040 online Exceptions. Ez 1040 online   Annual cash wages of less than $150 you pay to a seasonal farmworker are not subject to social security and Medicare taxes, even if you pay $2,500 or more to all your farmworkers. Ez 1040 online However, these wages count toward the $2,500 test for determining whether other farmworkers' wages are subject to social security and Medicare taxes. Ez 1040 online   A seasonal farmworker is a worker who: Works as a hand-harvest laborer, Is paid piece rates in an operation usually paid on this basis in the region of employment, Commutes daily from his or her permanent home to the farm, and Worked in agriculture less than 13 weeks in the preceding calendar year. Ez 1040 online   See Family Employees , earlier, for certain exemptions from social security and Medicare taxes that apply to your child, spouse, and parent. Ez 1040 online Religious exemption. Ez 1040 online   An exemption from social security and Medicare taxes is available to members of a recognized religious group or division opposed to public insurance. Ez 1040 online This exemption is available only if both the employee and the employer are members of the group or division. Ez 1040 online   For more information, see Publication 517, Social Security and Other Information for Members of the Clergy and Religious Workers. Ez 1040 online Cash wages. Ez 1040 online   Only cash wages paid to farmworkers are subject to social security and Medicare taxes. Ez 1040 online Cash wages include checks, money orders, and any kind of money or cash. Ez 1040 online   Only cash wages subject to social security and Medicare taxes are credited to your employees for social security benefit purposes. Ez 1040 online Payments not subject to these taxes, such as commodity wages, do not contribute to your employees' social security coverage. Ez 1040 online For information about social security benefits, contact the SSA at 1-800-772-1213 or online at www. Ez 1040 online socialsecurity. Ez 1040 online gov. Ez 1040 online Noncash wages. Ez 1040 online    Noncash wages include food, lodging, clothing, transportation passes, and other goods and services. Ez 1040 online Noncash wages paid to farmworkers, including commodity wages, are not subject to social security and Medicare taxes. Ez 1040 online However, they are subject to these taxes if the substance of the transaction is a cash payment. Ez 1040 online For information on lodging provided as a condition of employment, see Publication 15-B. Ez 1040 online   Report the value of noncash wages in box 1 of Form W-2 together with cash wages. Ez 1040 online Do not show noncash wages in box 3 or in box 5, (unless the substance of the transaction is a cash payment). Ez 1040 online Tax rates and social security wage limit. Ez 1040 online   For 2013, the employer and the employee will pay the following taxes. Ez 1040 online The employer and employee each pay 6. Ez 1040 online 2% of cash wages for social security tax (old-age, survivors, and disability insurance). Ez 1040 online The employer and employee each pay 1. Ez 1040 online 45% of cash wages for Medicare tax (hospital insurance). Ez 1040 online The employee pays 0. Ez 1040 online 9% of cash wages in excess of $200,000 for Additional Medicare Tax. Ez 1040 online Wage limit. Ez 1040 online   The limit on wages subject to the social security tax for 2013 is $113,700. Ez 1040 online There is no limit on wages subject to the Medicare tax. Ez 1040 online All covered wages are subject to the Medicare tax. Ez 1040 online Additionally, all wages in excess of $200,000 are subject to Additional Medicare Tax withholding. Ez 1040 online Paying employee's share. Ez 1040 online   If you would rather pay the employee's share of social security and Medicare taxes without deducting it from his or her wages, you may do so. Ez 1040 online It is additional income to the employee. Ez 1040 online You must include it in box 1 of the employee's Form W-2, but do not count it as social security and Medicare wages (boxes 3 and 5 on Form W-2) or as wages for federal unemployment (FUTA) tax purposes. Ez 1040 online Example. Ez 1040 online Jane operates a small family fruit farm. Ez 1040 online She employs day laborers in the picking season to enable her to timely get her crop to market. Ez 1040 online She does not deduct the employees' share of social security and Medicare taxes from their pay; instead, she pays it on their behalf. Ez 1040 online When her accountant, Susan, prepares the employees' Forms W-2, she adds each employee's share of social security and Medicare taxes paid by Jane to the employee's wage income (box 1 of Form W-2), but does not include it in box 3 (social security wages) or box 5 (Medicare wages and tips). Ez 1040 online For 2013, Jane paid Mary $1,000 during the year. Ez 1040 online Susan enters $1,076. Ez 1040 online 50 in box 1 of Mary's Form W-2 ($1,000 wages plus $76. Ez 1040 online 50 social security and Medicare taxes paid for Mary). Ez 1040 online She enters $1,000 in boxes 3 and 5 of Mary's Form W-2. Ez 1040 online Additional Medicare Tax. Ez 1040 online   In addition to withholding Medicare tax at 1. Ez 1040 online 45%, you must withhold a 0. Ez 1040 online 9% Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year. Ez 1040 online You are required to begin withholding Additional Medicare Tax in the pay period in which you pay wages in excess of $200,000 to an employee and continue to withhold it each pay period until the end of the calendar year. Ez 1040 online Additional Medicare Tax is only imposed on the employee. Ez 1040 online There is no employer share of Additional Medicare Tax. Ez 1040 online All wages that are subject to Medicare tax are subject to Additional Medicare Tax withholding if paid in excess of the $200,000 threshold. Ez 1040 online   For more information on what wages are subject to Medicare tax, see the chart, Special Rules for Various Types of Services and Payments, in section 15 of Publication 15 (Circular E). Ez 1040 online For more information on Additional Medicare Tax, visit IRS. Ez 1040 online gov and enter “Additional Medicare Tax” in the search box. Ez 1040 online Federal Income Tax Withholding If the cash wages you pay to farmworkers are subject to social security and Medicare taxes, they are also subject to federal income tax withholding. Ez 1040 online Although noncash wages are subject to federal income tax, withhold income tax only if you and the employee agree to do so. Ez 1040 online The amount to withhold is figured on gross wages without taking out social security and Medicare taxes, union dues, insurance, etc. Ez 1040 online Form W-4. Ez 1040 online   Generally, the amount of federal income tax you withhold is based on the employee's marital status and withholding allowances claimed on the employee's Form W-4. Ez 1040 online In general, an employee can claim withholding allowances on Form W-4 equal to the number of exemptions the employee will be entitled to claim on his or her tax return. Ez 1040 online An employee may also be able to claim a special withholding allowance and allowances for estimated deductions and credits. Ez 1040 online   Do not withhold federal income tax from the wages of an employee who, by filing Form W-4, certifies that he or she had no federal income tax liability last year and anticipates no liability for the current year. Ez 1040 online   You should give each new employee a Form W-4 as soon as you hire the employee. Ez 1040 online For Spanish-speaking employees, you may use Formulario W-4(SP) which is the Spanish translation of Form W-4. Ez 1040 online Have the employee complete and return the form to you before the first payday. Ez 1040 online If the employee does not return the completed form, you must withhold federal income tax as if the employee is single and claims no withholding allowances. Ez 1040 online New Form W-4 for 2014. Ez 1040 online   You should make the 2014 Form W-4 available to your employees and encourage them to check their income tax withholding for 2014. Ez 1040 online Those employees who owed a large amount of tax or received a large refund for 2013 may want to submit a new Form W-4. Ez 1040 online You cannot accept substitute Forms W-4 developed by employees. Ez 1040 online How to figure withholding. Ez 1040 online   You can use one of several methods to determine the amount to withhold. Ez 1040 online The methods are described in Publication 51 (Circular A), which contains tables showing the correct amount of federal income tax you should withhold. Ez 1040 online Publication 51 (Circular A) also contains additional information about federal income tax withholding. Ez 1040 online Nonemployee compensation. Ez 1040 online   Generally, you do not have to withhold federal income tax on payments for services to individuals who are not your employees. Ez 1040 online However, you may be required to report these payments on Form 1099-MISC, Miscellaneous Income, and to withhold under the backup withholding rules. Ez 1040 online For more information, see the Instructions for Form 1099-MISC. Ez 1040 online Required Notice to Employees About Earned Income Credit (EIC) You must provide notification about EIC to each employee who worked for you at any time during the year and from whom you did not withhold any federal income tax. Ez 1040 online However, you do not have to notify employees who claim exemption from federal income tax withholding on Form W-4. Ez 1040 online You meet the notification requirement by giving each employee any of the following. Ez 1040 online Form W-2, which contains EIC notification on the back of Copy B. Ez 1040 online A substitute Form W-2 with the exact EIC wording shown on the back of copy B of Form W-2. Ez 1040 online Notice 797, Possible Federal Tax Refund Due to the Earned Income Credit (EIC). Ez 1040 online Your own written statement with the exact wording of Notice 797. Ez 1040 online For more information, see Publication 51 (Circular A). Ez 1040 online Reporting and Paying Social Security, Medicare, and Withheld Federal Income Taxes You must withhold federal income, social security, and Medicare taxes required to be withheld from the salaries and wages of your employees. Ez 1040 online You are liable for the payment of these taxes to the federal government whether or not you collect them from your employees. Ez 1040 online If, for example, you withhold less than the correct tax from an employee's wages, you are still liable for the full amount. Ez 1040 online You must also pay the employer's share of social security and Medicare taxes. Ez 1040 online There is no employer share of Additional Medicare Tax. Ez 1040 online Form 943. Ez 1040 online   Report withheld federal income tax, social security tax, and Medicare tax on Form 943. Ez 1040 online Your 2013 Form 943 is due by January 31, 2014 (or February 10, 2014, if you made deposits on time in full payment of the taxes due for the year). Ez 1040 online Deposits. Ez 1040 online   Generally, you must deposit both the employer and employee shares of social security and Medicare taxes and federal income tax withheld during the year. Ez 1040 online However, you may make payments with Form 943 instead of depositing them if you accumulate less than a $2,500 tax liability (“Total taxes after adjustments” line on Form 943) during the year and you pay in full with a timely filed return. Ez 1040 online   For more information on deposit rules, see Publication 51 (Circular A). Ez 1040 online Electronic deposit requirement. Ez 1040 online   You must use electronic funds transfer to make all federal tax deposits. Ez 1040 online Generally, electronic funds transfers are made using EFTPS. Ez 1040 online If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make electronic deposits on your behalf. Ez 1040 online Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. Ez 1040 online EFTPS is a free service provided by the Department of Treasury. Ez 1040 online Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee. Ez 1040 online   For more information on making federal tax deposits, see section 7 of Publication 51 (Circular A). Ez 1040 online To get more information about EFTPS or to enroll in EFTPS, visit www. Ez 1040 online eftps. Ez 1040 online gov or call 1-800-555-4477 or 1-800-733-4829 (TDD). Ez 1040 online Additional information about EFTPS is also available in Publication 966. Ez 1040 online Form W-2. Ez 1040 online   By January 31, you must furnish each employee a Form W-2 showing total wages for the previous year and total federal income tax, social security tax, and Medicare tax withheld. Ez 1040 online However, if an employee stops working for you and requests the form earlier, you must give it to the employee within 30 days of the later of the following dates. Ez 1040 online The date the employee requests the form. Ez 1040 online The date you make your final payment of wages to the employee. Ez 1040 online Compensation paid to H-2A visa holders. Ez 1040 online   Report compensation of $600 or more paid to foreign agricultural workers who entered the country on H-2A visas in box 1 of Form W-2. Ez 1040 online Compensation paid to H-2A workers for agricultural labor performed in connection with this visa is not subject to social security and Medicare taxes, and therefore should not be reported as wages subject to social security tax (line 2), Medicare tax (line 4), or Additional Medicare Tax (line 6) on Form 943, and should not be reported as social security wages (box 3) or Medicare wages (box 5) on Form W-2. Ez 1040 online   An employer is not required to withhold federal income tax from compensation it pays to an H-2A worker for agricultural labor performed in connection with this visa unless the worker asks for withholding and the employer agrees. Ez 1040 online In this case, the worker must give the employer a completed Form W-4. Ez 1040 online Federal income tax withheld should be reported on Form 943, line 8, and in box 2 of Form W-2. Ez 1040 online   These reporting rules apply when the H-2A worker provides his or her taxpayer identification number (TIN) to the employer. Ez 1040 online For the rules relating to backup withholding and reporting when the H-2A worker does not provide a TIN, see the Instructions for Form 1099-MISC and the Instructions for Form 945. Ez 1040 online Trust fund recovery penalty. Ez 1040 online   If you are responsible for withholding, accounting for, depositing, or paying federal withholding taxes and willfully fail to do so, you can be held liable for a penalty equal to the withheld tax not paid. Ez 1040 online A responsible person can be an officer of a corporation, a partner, a sole proprietor, or an employee of any form of business. Ez 1040 online A trustee or agent with authority over the funds of the business can also be held responsible for the penalty. Ez 1040 online   Willfully means voluntarily, consciously, and intentionally. Ez 1040 online Paying other expenses of the business instead of the taxes due is acting willfully. Ez 1040 online Consequences of treating an employee as an independent contractor. Ez 1040 online   If you classify an employee as an independent contractor and you have no reasonable basis for doing so, you may be held liable for employment taxes for that worker. Ez 1040 online See Publication 15-A for more information. Ez 1040 online Federal Unemployment (FUTA) Tax You must pay FUTA tax if you meet either of the following tests. Ez 1040 online You paid cash wages of $20,000 or more to farmworkers in any calendar quarter during the current or preceding calendar year. Ez 1040 online You employed 10 or more farmworkers for some part of at least 1 day during any 20 or more different calendar weeks during the current or preceding calendar year. Ez 1040 online These rules do not apply to exempt services of your spouse, your parents, or your children under age 21. Ez 1040 online See Family Employees , earlier. Ez 1040 online Alien farmworkers. Ez 1040 online   Wages paid to aliens admitted on a temporary basis to the United States to perform farmwork (also known as “H-2A visa workers”) are exempt from FUTA tax. Ez 1040 online However, include your employment of these workers and the wages you paid them to determine whether you meet either of the above tests. Ez 1040 online Commodity wages. Ez 1040 online   Payments in kind for farm labor are not cash wages. Ez 1040 online Do not count them to figure whether you are subject to FUTA tax or to figure how much tax you owe. Ez 1040 online Tax rate and credit. Ez 1040 online   The gross FUTA tax rate is 6. Ez 1040 online 0% of the first $7,000 cash wages you pay to each employee during the year. Ez 1040 online However, you are given a credit of up to 5. Ez 1040 online 4% of the first $7,000 cash wages you pay to each employee for the state unemployment tax you pay. Ez 1040 online If your state tax rate (experience rate) is less than 5. Ez 1040 online 4%, you may still be allowed the full 5. Ez 1040 online 4% credit. Ez 1040 online   If you do not pay the state tax, you cannot take the credit. Ez 1040 online If you are exempt from state unemployment tax for any reason, the full 6. Ez 1040 online 0% rate applies. Ez 1040 online See the Instructions for Form 940 for additional information. Ez 1040 online More information. Ez 1040 online   For more information on FUTA tax, see Publication 51 (Circular A). Ez 1040 online Reporting and Paying FUTA Tax The FUTA tax is imposed on you as the employer. Ez 1040 online It must not be collected or deducted from the wages of your employees. Ez 1040 online Form 940. Ez 1040 online   Report FUTA tax on Form 940. Ez 1040 online The 2013 Form 940 is due January 31, 2014 (or February 10, 2014, if you timely deposited the full amount of your 2013 FUTA tax). Ez 1040 online Deposits. Ez 1040 online   If at the end of any calendar quarter you owe, but have not yet deposited, more than $500 in FUTA tax for the year, you must make a deposit by the end of the following month. Ez 1040 online If the undeposited tax is $500 or less at the end of a quarter, you do not have to deposit it. Ez 1040 online You can add it to the tax for the next quarter. Ez 1040 online If the total undeposited tax is more than $500 at the end of the next quarter, a deposit will be required. Ez 1040 online If the total undeposited tax at the end of the 4th quarter is $500 or less, you can either make a deposit or pay it with your return by the January 31, 2014, due date. Ez 1040 online Electronic deposit requirement. Ez 1040 online   You must use electronic funds transfer to make all federal tax deposits. Ez 1040 online Generally, electronic funds transfers are made using EFTPS. Ez 1040 online If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make electronic deposits on your behalf. Ez 1040 online Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. Ez 1040 online EFTPS is a free service provided by the Department of Treasury. Ez 1040 online Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee. Ez 1040 online   For more information on making federal tax deposits, see section 7 of Publication 51 (Circular A). Ez 1040 online To get more information about EFTPS or to enroll in EFTPS, visit www. Ez 1040 online eftps. Ez 1040 online gov or call 1-800-555-4477 or 1-800-733-4829 (TDD). Ez 1040 online Additional information about EFTPS is also available in Publication 966. Ez 1040 online Prev  Up  Next   Home   More Online Publications