Forms

• Form 940 Employer’s Annual Federal Unemployment Tax Form (FUTA)

• Form 941 Employer’s Quarterly Federal Tax Form

• Form 944 Employer’s Annual Federal Tax Return

• Provide a list of each employee with salary amounts

• Payroll reports should show the following information:

• Gross wages for each employee, including officer(s) if paid W-2 wages

• Paid time off for each employee

• Vacation pay for each employee

• Family medical leave pay for each employee

• State and local taxes assessed on an employee’s compensation

• Include all employees and the company owners

• All health insurance premiums paid by the company under a group health plan

• Document the sum of all retirement plan funding paid by the company

• Do not include funding that came from employees out of their paycheck deferrals

• Include all employees and the company owners if compensated

• Include 401K plans, Simple IRA, SEP IRA’s

Non-profit organizations (religious/political/charitable):

• Form 990 (Return for Organizations Exempt from Income Tax)

  • Only 501 (c) 3 and 501 (c) 19 can apply

  • No 501 (c) 7 such as membership organizations can apply

Sole Proprietors, Independent Contractors, and Self Employed Individuals

• Proof of payments of any compensation or income that is: A Wage, Commission, or Income

• Net Earnings from Self-employment, or similar compensation and that is an amount that is NOT more than $100,000 in one year.

• Income and Expenses Financial Statements

• Form 1099(s) & 1099 Miscellaneous

• Form 1040 Tax Return (Schedule C for Sole Proprietorships and Single member LLCs)