Obtaining Employment Tax Forms for ERTC Application
To apply for ERTC, business owners will need to have their employment tax forms for the relevant periods. This includes Form 941, which reports quarterly payroll taxes to the IRS. Business owners should ensure that they have filed all required employment tax forms and that they are up-to-date with their payroll tax filings.
Below are 5 key points about obtaining employment tax forms for your ERTC application:
- Form 941: Form 941 is used to report employment taxes to the IRS. Employers must file Form 941 each quarter to report wages paid, tips received, federal income tax withheld, and both the employer and employee portion of social security and Medicare taxes. Employers can obtain Form 941 from the IRS website or from their payroll service provider.
- Form 944: Form 944 is an annual employment tax form that is used by small employers with annual payroll taxes of $1,000 or less. Employers who are eligible to file Form 944 will receive a notification from the IRS. Employers can also obtain Form 944 from the IRS website or from their payroll service provider.
- Form 940: Form 940 is used to report federal unemployment tax to the IRS. Employers must file Form 940 annually to report the amount of federal unemployment tax owed, as well as any payments made throughout the year. Employers can obtain Form 940 from the IRS website or from their payroll service provider.
- W-2 Forms: W-2 forms are used to report the amount of wages paid to employees and the amount of taxes withheld from their paychecks. Employers must provide W-2 forms to their employees and file them with the Social Security Administration by January 31 of each year. Employers can obtain W-2 forms from their payroll service provider or from the IRS website.
- 1099 Forms: 1099 forms are used to report payments made to non-employees, such as independent contractors or freelancers. Employers must provide 1099 forms to non-employees and file them with the IRS by January 31 of each year. Employers can obtain 1099 forms from their accounting software or from the IRS website.
