Checklist Of Employer Responsibilities

With the upcoming quarterly payroll filing deadline looming, here is a checklist of responsibilities to help employers meet deadlines. More information can be found in IRS Publication 15.

New Employees:

□ Verify work eligibility of new employees 4
□ Record employees' names and SSNs from social security cards
□ Ask employees for Form W-4

Each Payday:

□ Withhold federal income tax based on each employee’s Form W-4
□ Withhold employee's share of social security and Medicare taxes
□ Deposit:
• Withheld income tax
• Withheld and employer social security taxes
• Withheld and employer Medicare taxes
Note: Due date of deposit generally depends on
your deposit schedule (monthly or semiweekly)

Annually (By January 31 of the current year, for the prior year):

□ File Form 940 if required (pay tax with return if not required to deposit)

Quarterly (By April 30, July 31, October 31, and January 31):

□ Deposit FUTA tax if undeposited amount withholding is over $500
□ File Form 941 (pay tax with return if not required to deposit)

Annually:

□ Remind employees to submit a new Form W-4 if they need to change their withholding □ Ask for a new Form W-4 from employees claiming exemption from income tax withholding
□ Reconcile Forms 941 (or Form 944) with Forms W-2 and W-3
□ Furnish each employee a Form W-2
□ File Copy A of Forms W-2 and the transmittal Form W-3 with the SSA
□ Furnish each other payee a Form 1099 (for example, Form 1099-MISC, Miscellaneous Income)
□ File Forms 1099 and the transmittal Form 1096
□ File Form 940
□ File Form 945 for any nonpayroll income tax withholding