Get the free 2014 Form 945 - www.zillionforms.com

Form 945-V, Payment Voucher Purpose of Form Complete Form 945-V, Payment Voucher, if you are making a payment with Form 945, Annual Return of Withheld Federal Income Tax.

How to fill out 2014 form 945

How to fill out 2014 Form 945:

1. Gather the necessary information: Before filling out the Form 945, make sure you have all the required information handy. This includes the employer identification number (EIN), the total tax liability for the year, and the total deposits made throughout the year.
2. Provide your basic information: Start by entering your name, business name (if applicable), and address in the designated fields. Ensure that all the information is accurate and up-to-date.
3. Report tax liability: Enter the total tax liability for the year in the corresponding box. This should reflect the amount of federal income tax withheld from nonpayroll payments, such as backup withholding or gambling winnings.
4. Document deposits made: In the next section, you need to report the total deposits made throughout the tax year. This includes any federal tax deposits made electronically through the Electronic Federal Tax Payment System (EFTPS) or by using the Federal Tax Deposit Coupon (Form 8109).
5. Calculate the tax due or overpayment: Subtract the total deposits made from the total tax liability to determine if you owe any additional tax or if you have overpaid. If there is an overpayment, you can choose to apply it to your next tax period or request a refund.
6. Choose the payment option: If you owe additional tax, select the payment option that suits you best. You can pay electronically, by check, or through the EFTPS. Follow the instructions provided by the IRS for each payment method.

Who needs 2014 Form 945:

1. Employers with nonpayroll federal income tax withholding: Form 945 is primarily used by employers who withhold federal income tax from nonpayroll payments. This includes income from pensions, annuities, gambling winnings, and backup withholding, among others.
2. Businesses with tax liability: Any business entity or individual who has a tax liability for the year and meets the requirements for Form 945 should fill it out. This form ensures that the appropriate tax amount is reported and paid to the IRS.
3. Employers using EFTPS or Form 8109: Employers who make federal tax deposits electronically through the EFTPS or manually using the Form 8109 need to complete Form 945 to reconcile their tax deposits with the total tax liability for the year.

Remember, it is always advisable to consult the official instructions and guidelines provided by the IRS when filling out any tax form, including the 2014 Form 945.

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What is form 945 - wwwzillionformscom?

Form 945 is the Annual Return of Withheld Federal Income Tax. It is used to report the taxes withheld on non-payroll payments, such as pensions, gambling winnings, and backup withholding.

Who is required to file form 945 - wwwzillionformscom?

Generally, anyone who withheld federal income tax on non-payroll payments during the year is required to file Form 945.

How to fill out form 945 - wwwzillionformscom?

Form 945 is filled out by providing information about the total amount of federal income tax withheld on non-payroll payments throughout the year.

What is the purpose of form 945 - wwwzillionformscom?

The purpose of Form 945 is to report and reconcile the federal income tax withholding on non-payroll payments made throughout the year.

What information must be reported on form 945 - wwwzillionformscom?

Information such as the total amount of federal income tax withheld, the number of payees, and any backup withholding must be reported on Form 945.