What complicates payroll?
- New IRS rules for labor compliance
- Timely electronic tax deposits
- Processing payroll checks with the correct withholdings (Social Security, Medicare, State and Federal)
- Year-end tax reports (943 or 941, 940, W2)
- New hire guidelines (I-9, W4, job services, child support)
- Foreign workers (H2A, J)
At Farm Credit, we offer the following services to help make it easier:
- Accurate calculations of employee tax withholdings
- Prepare paystubs
- Prepare and e-file W2’s
- Prepare employer’s annual federal tax return, Form 943
- Prepare annual unemployment tax return, Form 940
- File quarterly/annual job service and state tax reports as required
- Calculate monthly tax deposits and submit timely on behalf of the employer
- Provide the option for direct deposit of employee wages
