Important News For The Employer
- Effective January 1, 2004, all cafeteria plan contributions will be tax deferred for Ohio city tax. Previously these contributions were tax deferred only on the federal and state levels.
Forms for Your New Employees
- I-9 Form (Employment Eligibility Verification)
Requires attachment of acceptable documents (i.e., social security card, driver's license, etc.) as described in "lists of Acceptable Documents" as provided by the U.S. Department of Justice, Immigration and Naturalization Services. This form should be maintained in a clearly marked file specially designated for I-9 Forms and NOT in your employee's personnel file.
- W-4 Form (Employee's Withholding Allowance Certificate)
You are required to send copies of the W-4 form to the IRS if the employee claims (a) more than 10 withholding allowances or (b) exemption from withholding and his or her wages would normally be more than $200 per week. Send the copies to the IRS office where you file your Form 941.
- New Hire Forms
This form must be submitted by the employer to the state for each new employee including contract labor hires within 20 calendar days of the hire date.
If an employee is terminated and has a child support deduction, the employer is responsible for notifying the Child Support Office or be subject to penalty.
Payroll records must be retained for three (3) years including daily time records.
Payroll Tax Withholdings
All wages, commissions, gift certificates and bonuses, (i.e., Christmas and merit) are subject to payroll tax withholdings. Expense reimbursements, however, are excluded.
Call our Office with Any Questions!
REYNOLDS & COMPANY
Certified Public Accountants
839 Gallia Street, PO Box 1364
Portsmouth, OH 45662