Frequently Asked Questions

Treat income from employer-provided education assistance as fringe benefits when you report them in Box 1 on a W2 form. Employers enter the value of ...

Report your income from employee tuition reimbursement on a W-2 depending on the amount that was provided in educational assistance. If the assistance is $5,250 ...

There are certain steps that you need to take when you use a Form W-2 to report income for employee transportation benefits. Step 1: Understand ...

First things first, employers do not need to follow any mandated federal reporting requirements for a qualified transportation plan. You may choose to report transportation ...

Did your business pay more for your employees’ parking than the monthly exclusion limitation? Treat any excess amount as compensation to the employee. Include that ...

Report the financial assistance that you pay any relocating employees for their move with their wages on a W-2 form. The Internal Revenue Service previously ...

Yes, the Internal Revenue Service encourages and may even expect employers to electronically file W-2 forms for their company. The most important step before you ...

The short answer is, sometimes. The form that you file for commission payments will depend on how you classified a worker within your company. Did ...

Yes, you must take certain steps as an employer like filing a W-2 form for a deceased employee to compensate their estate for unpaid work ...

Employers might decide to report income from wage garnishments in box 14 on a W-2 form. The Internal Revenue Service does not legally require you ...

Yes, there are scenarios when it is not only common but is expected of U.S. companies to file a W2 form for payments made to ...

Employers should input the income amount that they provided for an employee in severance pay on a Form W-2. Report this payment amount as wages ...

Report your employees’ commission income, in most cases, in box 1 on a W-2 form. Treat the commissions like wages when you withhold and pay ...

Report the bonuses that you paid an employee during the year in box 1 on a W2 form. Bonuses are a form of compensation. The ...

Employers must enter the value of certain fringe benefits in Boxes 1, 3, and 5 on W-2 forms. Not all fringe benefits for employees are ...

Employers generally must complete, file, and furnish Form W-2 to each of their employees. The information on the form helps to ensure that all employees ...

The short answer is yes, but take a moment before you proceed. Reporting income can present intricacies for many employers. Avoid an audit from the ...

Deposit your business’s employment taxes for Wednesday, Thursday, and/or Friday payments by the following Wednesday. A semiweekly schedule depositor must also deposit taxes for the ...

Specific scenarios in the real estate industry and property management dictate which forms you must file and when you need to file them. Landlords and ...

Individuals who earn income from a copyright often report their royalties on a Form 1099-MISC. File the form for each individual that you paid $10 ...

Yes, you must report non-employee compensation if you paid a freelance writer $600 or more in a specific tax year. Use Form 1099-NEC to report ...