Form 943, titled “Employer’s Annual Federal Tax Return for Agricultural Employees,” is a form used by employers in the United States to report federal income tax, Social Security tax, and Medicare tax withheld from the wages of agricultural employees. Additionally, it is used to report the employer’s portion of Social Security and Medicare taxes.
Key Points About Form 943:
- Who Uses It: Employers who pay wages to agricultural workers must file this form if the wages are subject to Social Security and Medicare taxes.
- Filing Frequency: This form is filed annually, with the due date typically being January 31st of the year following the tax year being reported.
- What It Reports:
- Federal income tax withheld from agricultural employees’ wages.
- Both the employer’s and employee’s share of Social Security and Medicare taxes.
- Any advance earned income credit payments made to employees before 2011.
Additional Notes:
- Thresholds for Filing: If you pay $150 or more in wages to any agricultural worker during the year, or if you pay $2,500 or more in total agricultural wages during the year, you’re required to file Form 943.
- Payment Options: Taxes reported on Form 943 can be paid using the Electronic Federal Tax Payment System (EFTPS) or through other approved methods.
Employers must ensure accurate and timely filing of this form to avoid penalties and ensure compliance with federal tax regulations.
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