Frequently Asked Questions

Use IRS Form 941-X to amend Form 941 errors. Do not wait to amend a previously filed Form 941 once you notice a mistake. File ...

The cost of direct deposits varies between payroll processing software. Many businesses prefer using direct deposit because of its efficiency and ease. You generally can ...

That question is a bit nuanced but the short answer is, possibly. The state deadline for Form 1099-MISC is similar to the Internal Revenue Service’s ...

Prepare to pay some type of penalty if you file a late 1099 form. The major deadline to put down on your calendar is Jan. ...

Send specific independent contractors 1099-NEC and 1099-MISC forms. The contractors must meet certain prerequisites in order to receive the two types of 1099 forms. Send ...

Employers and employees pay four federal payroll taxes when they work in the United States. Each tax has a different W-2 rate that you need ...

Running your payroll in-house means that you need to choose between purchasing cloud-based or server-based payroll software. Each type of payroll software offers key advantages. ...

The two types of payroll systems for businesses include payroll software and outsourcing. There is a third option of managing payroll by hand, but that ...

Temporary employees meet short-term business needs in similar ways to contract workers. How you pay temporary employees differs in noticeable ways. Use W-2 forms if ...

Are you wondering how to pay bonuses to employees without taxes? Regretfully, that is not an option. Employers must withhold taxes from employee bonus payments. ...

The short answer is, you will pay a fine. It does not need to be a hefty fine if you take the proper steps moving ...

Many employers view paying freelancers as easier than paying employees. You do not need to worry about paying unemployment tax or FICA taxes. Hire independent ...

Payers send completed 1099 tax forms to the IRS and all independent contractors. We outlined below the steps to take when completing and filing Form ...

Form MW507 collects employee information to establish tax statuses and exemptions. Review each Form MW507 to confirm the employees included the required information to make ...

Filing Form 1099-MISC with the Internal Revenue Service has not changed significantly in the past several years. Complete and file 1099-MISC forms with the IRS ...

Electronically filing your 1099 forms is a simple process that should not consume your time. The decision to e-file instead of filing manually can reduce ...

Small business owners may wonder whether you can e-file a corrected 1099 form. The short answer is, yes. Take the following steps in order to ...

Take quick steps when you file an erroneous return with the Internal Revenue Service. Correct a physical Form 1099-MISC as soon as possible by filing ...

First, understand what percentage of FICA taxes are Social Security withholdings and which are Medicare withholdings. The Medicare portion of FICA is 1.45% of the ...

The current tax rate that is applicable for employers is 6.2% for Social Security. The present day Medicare tax rate is 1.45% for employers. The ...

Processing extra paperwork if you forget to submit a 1099 should not consume your time. Some employers discover too late that they unintentionally left out ...