TAX DATES : January 31
Businesses provide Forms W-2 and most 1099s to employees and other payees.
File Forms W-2 and 1099-Misc Reporting non employee compensation in box 7 with the SSA and IRS, respectively.
Employers file form 941 for fourth quarter or For 944 for 2017.
Employers file form 940 for 2017
Farm Employers file Form 943 for 2017.
File Form 945 to report income tax withheld for 2017 on all non payroll items, including backup
withholding and withholding on pensions, annuities, IRAs, and gambling winnings.
Note: Forms 940, 941, 943, 944, and 945 are each due February 12 if respective taxes are deposited in full and on time.
Applicable large employers (ALEs) provide Form 1095-C to employees; all other providers provide Form 1095-B to covered individuals.
SOCIAL SECURITY TAXABLE WAGE BASE FOR 2018
On October 13, 2017, the Social Security Administration (SSA) announced that the maximum earnings subject to the social security component of the FICA tax would increase from $127,200 to $128,700 for 2018.
Please contact us if you have any questions about the information in this article.