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Form 943, is the Employers Annual Federal Tax Return for Agricultural Employees. In other words, it is a tax form used to report federal income tax, Social Security and Medicare withholdings from agricultural employees.
Simply put, Form 944 is a document the IRS requires some employers to file annually. The form helps both the employer and the IRS keep track of how much income tax and Federal Insurance Contribution Act (FICA) tax that employer owes to the federal government, on an annual basis.
IRS Form 944 is titled the Employers Annual Federal Tax Return. It is a tax form that reports the taxes youve withheld from your employees paychecks. These include federal income tax, social security tax, and Medicare tax.
Form 945 is the Annual Record of Federal Tax Liability. This form should be completed by semiweekly schedule depositors. This form must also be completed by any business that accumulates $100,000 of tax liability during any month of the tax year.
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