Wednesday, January 16, 2008

Important Deadlines Approaching

1/31 - Furnish Forms 1099 and W-2: Furnish each employee a completed Form W-2, Wage & Tax Statement for 2007.

2/1 - OSHA 300A Form: Employers need to post their 2007 Summary of Work-Related Injuries and Illnesses (Form 300A) from February 1st through April 30th of each year.

2/15 - W-4 Reminder: Any Form W-4 previously given to you claiming exemption from withholding has expired. Employers must change the withholding exemption to "single, with zero allowances" for employees who claimed total exemption from withholding for last year, unless those employees have completed a new Form W-4.

3/31 - Forms 1099 and 8027 Due: Employers are required to file (electronically) Forms 1099 and 8027 with the IRS. Form 1099 is used for reporting payment made to Independent Contractors. Form 8027 is to be filed by large food and beverage an establishment in which tipping is customary.

3/31 - Form W-2 Due: Form W-2 is to be filed with the Social Security Administration.

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