*Fourth: Make a copy of it before you mail it to the IRS.
*Fifth: Include a check payable to the United States Treasury for the amount of the tax due. Put the Form number, year, and which quarter it is for on your check. Make sure you include the 941-V with your check. (Skip this step unless you are classified as small...have a payroll tax liability of $2,500 or less per quarter}
*Sixth: Mail in the preprinted envelope the IRS provided with your Form 941 package. Or if you don't have a preprinted envelope, look up the mailing address you need to send to on page 4 of the
Form 941 instructions booklet.
Notice there are different address for different states and if you are sending a payment in or not.
****Important: Most states have their own payroll tax forms due in the same month as the form 941s. Oklahoma’s is an OW-9 (Oklahoma Employers Withholding Tax Return) and is due by the 20th of the month following the close of the quarter (April 20, July 20, Oct. 20, and Jan. 20).
What are forms W-2 and W-3?
Form W-2 tells the IRS, the Social Security Administration, and the employee the amount of wages and withholdings for the year.
Form W-3 is the cover page for all the W-2s that will be submitted to the Social Security Administration. It summarizes the total wages and withholdings included on all the W-2s.
If you have paid employees, you must prepare W-2 and W-3 forms each year.
The W-2 has at least three copies. Copy A has preprinted red boxes and must be submitted to the Social Security Administration along with the W-3. Copies B and C have preprinted black boxes and are given to the employee.
Your organization should also keep a copy of each W-2s for its records.
When preparing the W-3, it is very important that the totals on the W-3 match the sums of totals on the four Quarterly 941 Forms.
When are Forms W-2 and W-3 due?
Copy B and C of each employee's W-2 should be postmarked by the end of January.
Copy A of all the W-2s and Copy A of the W-3 must be postmarked to the Social Security Administration by the end of February.
Notice that your organization does not send a copy of the W-2 and W-3 to the IRS. Instead, the Social Security Administration shares the W-2 and W-3 information with the IRS. So...the church or nonprofit does not have to send copies to both agencies.
Form 1099-MISC communicates to the IRS and the recipient the amount of money your organization paid to the recipient during the year.
Your organization must send a 1099-MISC form to every independent contractor that you paid more than $600 in rents, services (including parts and materials), prizes and awards and other income payments.
Services include independent contractors who provide a service. Some examples of independent contractors include: repairmen, accountants, attorneys, cleaning services, and lawn care services.
You should also provide a 1099-MISC form to landlords, revival ministers, supply preachers and guest speakers if total paid to them in the year was over $600. Do not send 1099-MISC’S to corporations,
You should not pay an independent contractor until you have received a completed and signed W-9.
Use Form W-9 "Request for Taxpayer Identification Number and Certification" to obtain names, address, and taxpayer identification numbers (SSN or FEIN) from people you will be required to provide 1099-MISCs.
Have all independent contractors fill out a W-9 even if you think they are incorporated. If they are, there is a place on the W-9 for them to indicate they are incorporated.
Form 1096 is the cover page for the 1099s that will be submitted to the IRS. The 1096 summarizes the total payments included on all of the 1099s.
When are Forms 1099 & 1096 due?
Your organization must furnish Form 1099’s to the recipients by the end of January.
You must mail Form 1099’s and Form 1096 “Annual Summary and Transmittal of U.S. Information Returns” to the IRS by the end of
February.
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