Question of the Week: Do I Need To File Form W-3?

This week’s question comes from Kelly, a business owner. I already gave my employees their W-2s. Do I still need to file Form W-3? Answer: Anyone required to provide a Form W-2 to an employee must file Form W-3, Transmittal of Wage and Tax Statements. Employers may...

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Tip of the Week: File Form W-3 Correctly

Employers must file the 2008 Form W-3, Transmittal of Wage and Tax Statements, on or before March 2, 2009 if filing by paper or March 31, 2009 if filing by an approved electronic means. Employers should check only one box in section b, Kind of Payer. The only...

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2008 Form W-2 Tips, Part 15, Box 14 Other

This is one in a continuing series on the 2008 Form W-2, Wage and Tax Statement, which employers must generally furnish to employees no later than February 2, 2009. Forms mailed on the due date are considered furnished if properly addressed. Employers unable to meet...

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2008 Form W-2 Tips, Part 14, Box 13 Checkboxes

This is one in a continuing series on the 2008 Form W-2, Wage and Tax Statement, which employers must generally furnish to employees no later than February 2, 2009. Forms mailed on the due date are considered furnished if properly addressed. Employers unable to meet...

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2008 Form W-2 Tips, Part 13, Box 12 Codes

This is one in a continuing series on the 2008 Form W-2, Wage and Tax Statement, which employers must generally furnish to employees no later than February 2, 2009. Forms mailed on the due date are considered furnished if properly addressed. Employers unable to meet...

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2008 Form W-2 Tips, Part 12, Box 11 Nonqualified Plans

This is one in a continuing series on the 2008 Form W-2, Wage and Tax Statement, which employers must generally furnish to employees no later than February 2, 2009. Forms mailed on the due date are considered furnished if properly addressed. Employers unable to meet...

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2008 Form W-2 Tips, Part 10, Box 9 Advance EIC Payment

This is one in a continuing series on the 2008 Form W-2, Wage and Tax Statement, which employers must generally furnish to employees no later than February 2, 2009. Forms mailed on the due date are considered furnished if properly addressed. Employers unable to meet...

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2008 Form W-2 Tips, Part 9, Box 8 Allocated Tips

This is one in a continuing series on the 2008 Form W-2, Wage and Tax Statement, which employers must generally furnish to employees no later than February 2, 2009. Forms mailed on the due date are considered furnished if properly addressed. Employers unable to meet...

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2008 Form W-2 Tips, Part 8, Box 7 Social Security Tips

This is one in a continuing series on the 2008 Form W-2, Wage and Tax Statement, which employers must generally furnish to employees no later than February 2, 2009. Forms mailed on the due date are considered furnished if properly addressed. Employers unable to meet...

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2008 Form W-2 Tips, Part 7, Box 6 Medicare Tax Withheld

This is one in a continuing series on the 2008 Form W-2, Wage and Tax Statement, which employers must generally furnish to employees no later than February 2, 2009. Forms mailed on the due date are considered furnished if properly addressed. Employers unable to meet...

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2008 Form W-2 Tips, Part 4, Box 3 Social Security Wages

This is one in a continuing series on the 2008 Form W-2, Wage and Tax Statement, which employers must generally furnish to employees no later than February 2, 2009. Forms mailed on the due date are considered furnished if properly addressed. Employers unable to meet...

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Tip of the Week: Pay Employees in the Correct Year

Employers often question whether employees who work in one year and are paid in the next year should have the wages reported in the year the work was performed or the year the wages were paid. Generally, wages are reported based on payment date. For example, if the...

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Question of the Week: Why Did My FICA Tax Deduction Stop?

This week’s question comes from Matt, a sales rep: Every week there’s a deduction for FICA on my paycheck. Two weeks ago, the deduction was lower than usual and last week there was no deduction at all. Why did my FICA tax deduction stop? Answer: The FICA (Federal...

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IRS Increases Mileage Rate to 58.5 Cents per Mile

The standard mileage rates for the use of automobiles beginning July 1, 2008 will be 58.5 cents per mile for business miles driven and 27 cents per mile driven for medical or moving purposes, the Internal Revenue Service announced June 23 (IR-2008-82; Announcement...

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