What is Form 8922?
Form 8922, Third-Party Sick Pay Recap, is a tax form that assists employers and third-party payers in reconciling employment tax returns with Forms W-2. It ensures that federal and FICA taxes are accurately reported when third-party sick pay is distributed. This form is crucial for preventing tax reporting errors, allowing both employers and third-party payers to correctly account for taxes withheld from sick pay payments to employees. Proper completion of this form helps maintain compliance with tax regulations.
What is Form 8922 used for?
Form 8922 is important for managing third-party sick pay. Here’s how it’s used:
- Reconcile Employment Tax Returns: Matches employment tax returns (like Form 941) with Forms W-2 when third-party sick pay is involved.
- Ensure Compliance: Helps meet IRS regulations and avoid penalties.
- Clarify Tax Responsibilities: Defines roles of employers and third-party payers in sick pay reporting.
- Prevent Misreporting: Addresses discrepancies between an employee’s W-2 and actual payments made.
How to fill out Form 8922?
- 1
Determine if you are the employer or insurer/agent.
- 2
Fill in the filer's name, address, and contact information.
- 3
Provide the other party's name and EIN if applicable.
- 4
Enter the amounts for sick pay and taxes in the required fields.
- 5
Check the corrected box if you are amending a previous submission.
Who is required to fill out Form 8922?
Employers and third-party payers, such as insurers or insurance agents, are responsible for completing Form 8922.
This form is required by employers and third-party payers to reconcile employment tax returns with Forms W-2 when third-party sick pay is involved.
When is Form 8922 not required?
Form 8922 is not required if third-party sick pay isn't subject to federal income tax withholding or is reported on the employer's Form W-2. Also, if the third-party payer lacks contracts with multiple employers, they don’t need to file a separate Form 8922 for each employer.
When is Form 8922 due?
The deadline for Form 8922 is the last day of February. If this date falls on a Saturday, Sunday, or legal holiday, the form is due the next business day. It's important to file on time to ensure compliance with IRS regulations regarding third-party sick pay reporting.
How to get a blank Form 8922?
The IRS issues Form 8922, Third-Party Sick Pay Recap, for reconciling employment tax returns with Forms W-2 when third-party sick pay is paid. Our platform has a blank version of this form ready for you to fill out. Remember, PDF Guru aids in filling and downloading but not filing forms.
Do you need to sign Form 8922?
No, you do not need to sign Form 8922. This form is processed only by the IRS for reporting third-party sick pay, and it is not sent to the Social Security Administration. For the most accurate and up-to-date information, always check the latest updates. Use PDF Guru to fill out the form, download it for your records, and handle any other requirements outside of our platform, as we do not support submission.
Where to file Form 8922?
To submit Form 8922, ensure you've completed the form and printed it out. This form must be filed by mail only.
The mailing address depends on your principal place of business. If you're in certain states, send it to the Memphis Service Center; otherwise, use the Philadelphia address.
