Does your agricultural business pay employees? According to the IRS, if you paid wages to one or more farmworkers and the wages were subject to Social Security and Medicare taxes or federal income tax withholding, you need to file Form 943, Employer’s Annual Federal Tax Return for Agricultural Employees.
Form 943 is the tax document used to show the IRS the amount of taxes that you withheld from your employees each year. The IRS states agricultural employers are subject to withholding on wages if:
Special rules apply to certain hand-harvest laborers who receive less than $150 in annual cash wages. For more information, see section 4 of Publication 51, Agricultural Employer’s Tax Guide.
Here’s a link to more information from the IRS about reporting and deposit requirements for agricultural employers.
When it comes to tax season, it’s important that you have the right information to fill out forms so your taxes can be done efficiently and correctly. For Form 943 the most common information you’ll need is:
When choosing the full-service SurePayroll plan to handle your farm’s payroll, you will get:
Note: Marijuana remains a Schedule I Drug and is considered illegal for all purposes by the Federal Government. SurePayroll is unable to provide payroll services to companies in this industry.
This content is for educational purposes only, is not intended to provide specific legal advice, and should not be used as a substitute for the legal advice of a qualified attorney or other professional. The information may not reflect the most current legal developments, may be changed without notice and is not guaranteed to be complete, correct, or up to date
