Setting up payroll in the United States requires specific documents to ensure compliance with federal and state regulations. This guide outlines the essential and optional documents needed to get your payroll up and running smoothly.
Mandatory Items
The following company documents and policies impact your payroll system setup and operations. Please provide any relevant documentation:
- Company time-off and Leave Policies
- CP- 575 (Employer Identification Number (EIN))
The CP-575 is a letter from the Internal Revenue Service that confirms a new business's unique Employer Identification Number (EIN), also known as a Federal Employer Identification Number (FEIN).
This document serves as official proof of your EIN when opening bank accounts, applying for business licenses, or filing tax forms.
Please visit the official website to read more information.
3. Benefits Statement(s)
Please provide your State and Local account registration numbers and tax rates.
4. Form 8655 & passport if applicable
If the legal representative is from another country and doesn't have a US social security number, they must provide a signed Form 8655 and a copy of their passport.
- Visit the official website to read more information about the form 8655.
Optional items
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Payroll Journal
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941 (Quarterly Return)
For most employers, Form 941 is mandatory. The IRS determines whether an employer should file Form 944 or Form 941 based on the employer's reported tax liability. Employers must file Form 941 if they have an annual liability of $1,000 or more for Social Security, Medicare, and withheld federal income taxes.
- Visit the official website to read more information.
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944 (Annual Return)
Form 944 is available only to eligible employers whose total annual tax liability for income tax withholding, Social Security, and Medicare taxes is $1,000 or less. IRS approval may be required.This annual return is designed for small employers whose yearly liability for Social Security, Medicare, and withheld federal income taxes doesn't exceed $1,000.- Visit the official website here to read more information.
Customers with Year-To-Date Data
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Employee Payslips:
Collecting payslips from the start of the tax year helps ensure accurate payroll records and tax reporting. -
Employee W-2 Forms:
W-2 forms summarize an employee’s total earnings and tax withholdings for the year. These forms are essential for both payroll processing and employee tax filing.
By gathering the necessary documents and understanding their importance, you can streamline your payroll setup and stay compliant. Make sure to visit the provided links for more detailed information on each form and requirement.
If you need further assistance or have questions about the documentation process, our team is here to help you every step of the way!
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