Instructions for Filling Out Form 943

This document offers a comprehensive guide to completing Form 943, the Employer's Annual Federal Tax Return for Agricultural Employees, for the year 2023. It covers key topics such as future developments, updates for the tax year, important reminders, and step-by-step instructions for filling out the form accurately.

In this article, we'll provide information on Form 943 and a step-by-step guide on how to fill it out, keeping it straight to the point.

What is Form 943?

Form 943, titled "Employer's Annual Federal Tax Return for Agricultural Employees," is an IRS form used by employers to report federal income tax withheld from their agricultural employees, as well as both the employer and employee shares of social security and Medicare taxes. The form is specifically designed for employers who have paid wages to farmworkers that were subject to federal income tax withholding or social security and Medicare taxes under certain conditions outlined by the IRS.

Who Must File Form 943?

Employers who need to file Form 943 are those who have paid wages to one or more farmworkers, and these wages were subject to federal income tax withholding or social security and Medicare taxes under specific tests. These tests include the $150 Test and the $2,500 Test for cash wages paid to farmworkers. In short, if you're an employer who has paid wages to agricultural employees that meet either of these tests, you must file Form 943.

Form 943 Tax Filing Deadlines and Due Dates

• General Due Date: For 2023, Form 943 must be filed by January 31, 2024.
• Extended Due Date: If you made deposits on time in full payment of the taxes due for the year, you may file the return by February 12, 2024.

Form 943 Late Payment Penalty

If you fail to pay the taxes due for Form 943 on time, penalties and interest may be charged at a rate set by law. To avoid these penalties, ensure that you deposit or pay taxes when due, file a fully completed Form 943 by the deadline, and meet other requirements as outlined by the IRS. For specific penalty rates, refer to sections 7 and 8 of Publication 51 (Circular A).

Step-by-Step Instructions for Form 943

Step by step instructions for filling out Form 943:

1. Line 1: Enter the number of agricultural employees on your payroll during the pay period that included March 12, 2023.
2. Line 2: Enter the total cash wages subject to social security tax.
3. Line 3: Calculate and enter the social security tax.
4. Line 4: Enter the total cash wages subject to Medicare tax.
5. Line 5: Calculate and enter the Medicare tax.
6. Line 6: Enter wages subject to Additional Medicare Tax withholding.
7. Line 7: Calculate and enter the Additional Medicare Tax withholding.
8. Line 8: Enter the total federal income tax withheld from employees.
9. Line 9: Calculate and enter the total taxes before adjustments.
10. Line 10: Enter any current year's adjustments.
11. Line 11: Calculate and enter the total taxes after adjustments.
12. Lines 12a-d: Enter any applicable credits.
13. Line 13: Calculate and enter the total taxes after adjustments and nonrefundable credits.
14. Line 14a-h: Enter total deposits and refundable credits.
15. Line 15: If applicable, enter the balance due.
16. Line 16: If applicable, enter the overpayment.
17. Line 17: Complete the monthly summary of federal tax liability only if you were a monthly schedule depositor for the entire year and line 13 is $2,500 or more.
18. Sign and date the form: The form must be signed by the appropriate person depending on the type of business entity.

The instructions also include details on third-party designees, privacy act and paperwork reduction act notice, and how to get additional help or forms.

How to Submit Form 943

To submit Form 943, first determine if you must file by reviewing the criteria for wages paid to farmworkers. Next, gather the required employee information, including wages, taxes withheld, and any adjustments or credits. Complete the form according to the specific instructions for each line, calculate your deposits, and sign and date the form. Finally, file the form with the IRS by the due date, either electronically or by mail, and pay any balance due using an approved method such as EFTPS, credit or debit card, or check or money order with Form 943-V, Payment Voucher, if paying by mail.

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