When you have employees on payroll, you withhold taxes and issue payments on a regular basis. And regardless of which way you choose to pay your employees (e.g., direct deposit), there is one item you typically need to give to employees: a pay stub. But, what is a pay stub? What is on a pay […]
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Payroll Reports - Tips, Training, and News
7 Payroll Reports Employers Need to File
When it comes to running payroll, you have a lot of things to mark off on your to-do list. From gathering timesheets to distributing pay stubs, there can be a lot of steps that go into paying your employees. But after you pay employees, your payroll checklist isn’t finished just yet. You also need to […]
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Form 944 vs. 941: Which Should You Use to Report Payroll Taxes?
Employers, this one’s for you. After withholding payroll taxes from your employees’ wages (and contributing the employer share), you need to deposit the taxes with the IRS. But that’s not all—you must also report the taxes on either Form 944 or 941. So, what’s the difference between Form 944 vs. 941?
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What Is Form 944, and How to Know If You Need to File One
As an employer, you must withhold certain taxes from employees’ wages. Then, file and deposit them with the proper agencies. One form your business may need to file to report payroll taxes withheld from employee wages is Form 944. Read on to get the scoop on what is Form 944 and whether or not your […]
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Whoops! Use IRS Form 941-X to Correct Errors Made on Your Quarterly Form
Picture this: You fill out your quarterly Form 941 and submit it to the IRS. Everything seems fine and dandy … until you realize you made a mistake on the form. The panic sets in, and you’re left wondering what to do. Instead of stressing about the blunder, learn how to use IRS Form 941-X […]
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Form 3508, 3508EZ, or 3508S: Which Version Should You Use for PPP Forgiveness?
Small business owners have certainly been through the ringer in 2020. The Paycheck Protection Program (PPP) was a lifeline many business owners were willing to grab, but there were some strings attached. Complicated rules and unanswered questions left many people scrambling.
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Are You Keeping up With Your VETS Reporting Responsibilities?
Does your business have a contract with the government? If so, you may be responsible for following specific federal regulations, like reporting on your efforts to employ veterans. How much do you know about your VETS reporting responsibilities?
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What Is a W-3 Form?
Have employees? Then you know part of your employer responsibilities include the annual reporting of employee wages and taxes on Form W-2. And, no Form W-2 reporting is complete without its trusty sidekick, Form W-3. What is a W-3 form?
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