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Table of Contents-Payroll

1. What forms do I have my new employee fill out?
2. What is a W-4 and what do I do with it?
3. What is a I-9 and what do I do with it?
4. What is a Florida New Hire Form and what do I do with it?
5. What do I do if I get an IRS notice?
6. What is a 941?
7. What are the quarters in regards to payroll?
8. What is a UCT-6?
9. How do I figure UCT-6, SUTA,  SUI?
10. What do I do if I don’t have a UCT-6 account number?

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What forms do I have my new employee fill out?

There are 3 forms that a new employee should fill out.

1.          W-4-Employee’s Withholding Allowance Certificate

2.          I-9-Employement Eligibility Verification

3.          Florida New Hire Form

A good website to download all three of these forms is:

https://newhirereporting.com/fl-newhire/default.asp

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What is a W-4 and what do I do with it?

A W-4 is the form that your new employee fills out and signs.  This form tells you the employer how much to deduct from the employee’s paycheck.  The employee files out everything except box 8, 9 & 10.  These are to be filled out by the employer before being given to the employee.  After this return is filled out it should be kept in an employee file.  This form needs to be filled out by all employees at the beginning of every year.

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What is a I-9 and what do I do with it?

An I-9 is the form that your new employee fills out and signs.  This form tells you the employer if the employee is a eligible to be able to work.  This form needs to be filled out by all new employees at their time of hiring.  It should be kept in an employee file. 

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What is a Florida New Hire Form and what do I do with it?

A Florida New Hire Form is a form that you fill out for your new employee.  This form is required by law to be sent to the State of Florida for every new employee that you hire.  This form is form is used mainly for Child Support Enforcement.    

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What do I do if I get an IRS notice?

If you are a client, FAX: Immediately to us at 746-3462 or

         E-mail: Renee@TNTtaxes.com

                       Rich@TNTtaxes.com

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What is a 941?

941 Deposit-This is the payroll tax payment that is made on either a quarterly, monthly or semi-weekly basis.  The payroll tax deposit includes: Federal Withholding, Social Security-Company, Social Security-Employee, Medicare-Company, and Medicare-Employee.      

941 Return-This is the quarterly return that is filed in the month after the quarter ends.

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What are quarters in regards to payroll taxes?

1^st quarter = Jan through Mar  àReturn due April 1 - 30

2^nd quarter = Apr through Jun  à Return due July 1 - 31

3^rd quarter = Jul through Sep  à Return due Oct 1 - 31

4^th quarter = Oct through Dec  à Return due Jan 1 - 31

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What is a UCT-6?

a/k/a (also known as) SUTA or SUI (State Unemployment Tax Association or State Unemployment Insurance).  This is a quarterly form that is filed in conjunction with the 941 return.  In Florida it is the Florida Unemployment Compensation Fund.  The return is due the same as the 941 return.  For new clients the rate is 2.7%.  This rate can drop to as low as .42% and as high as 5.4%, based on the history of unemployment claims on your account. Please note the State of Florida has not yet updated their website for the minimum tax rate.

For more info go to http://www.myflorida.com/dor/uc/utfaqs/uttaxfaq.html

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How do I figure UCT-6, SUTA, SUI?

Easy Answer:  Call Renee and have her prepare it for you (for a fee of course)!

Not so Easy Answer:  SUI is taxed on the first $7,000 in wages.  That means that once you have paid tax on the first $7,000 of your employee’s wages, you are then done for that year. 

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What do I do if I don’t have a UCT-6 account number?

You must first fill out a DR-1 from the State of Florida

Call our office - we can either fax this form to you for you to prepare or you can prepare it yourself.

Download the Form - go to the following web page and download the form. 

             http://www.myflorida.com/dor/forms/download/!sales.html

File Return On-line - go to the following web page and you can register for your number directly on-line.

             http://www.myflorida.com/dor/eservices/apps/register/

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What is a 940?

a/k/a (also known as) FUTA or FUI (Federal Unemployment Tax Association or Federal Unemployment Insurance). 

940 Deposit-This is the payroll tax payment FUTA that is made on either a quarterly, or yearly basis.         

940 Return-This is the yearly return for FUTA.

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