I realized this year, while attempting to do my year end stuff, that I am “Corporate America”.
Year end brings its own joys, among them payroll taxes. Being a corporation, I am not only my sweet charming self for part of the day, but I also divide my time between being a corporate officer and an employee of my corporation.
There are not enough hooks on my hat rack.
I use Quick Books (premier 2008) to assist me in running my business. There is an “alert” reminder (a cute little finger with a string tied around it) that reminds me it’s time.Time, for whatever it deems important at that time.
Deceptively calm, it was reminding me to file my payroll forms.
I clicked on the button, and decided that state forms would be first on my agenda.
First up is the state payroll taxes. Also known as the DE6. I click a few buttons, print a few sheets, and viola, that’s done. Second is the DE7, the year end reconciliation form. Also relatively simple to complete. Especially if all the other parts of the software are used properly. The DE7 is to make sure the 4 quarters worth of DE6’s make sense.
They rarely do.
If you owe money according to the information on the DE7, you have to fill out a D88. I’m not sure what happens if you owe no money. I’ll try that next year.
With State done, I move gingerly along to the Federal side of the house, where the W2, W3, 940 and 941 forms await my attention. Clickity, click, click, it’s time to pay and file.
Stay with me here…
The payments for the DE6, 940 and 941 can be made electronically. Clickity, click, ca-ching, the money is deducted from my checking account on the day I designate. Although, they have some weird verification system to make sure you have the right numbers. It involves adding all the numbers in the amount owed, adding to that the number of digits in my payment and entering the results in the Verification Code field.
I don’t blame you. For example, if I owed $5389.76 in taxes, I would have to add 5 + 3 + 8 + 9 + 7 + 6, then add the results to 6. Or, 38 + 6 = 44.
To further complicate my over taxed brain (pun intended), the payment for the DE7 can not be electronically made so I had to write a check. Not only that, the D88 which is the payment voucher for the monies owed on the DE7 must be mailed in a separate envelope (with the check, of course) to a separate address than the DE7.
While I can make electronic payments for the 940 and 941, I can not e-file the forms, so I have to mail the forms in. Just the forms. Payment already sent via the WWW, thank you very much.
The W3 and W2 (Copy A for the SSA only!) must be mailed FLAT. No folds, no regular size envelopes. That means I have to run to Staples to get full size envelopes for flat documents.
W2 (Copies B, C, and 2) must be mailed to the employee before January 31st.
Hey that’s me! I saved 41 cents there!
How I still have my hair I’ll never know. I just trust that the software package is doing it’s job right. If not, jail time for tax evasion might be a worth while alternative to year end payroll taxes.