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Form Schedule H Household Employment Taxes

Form Schedule H Household Employment Taxes

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INSTRUCTIONS: HOUSEHOLD EMPLOYMENT TAXES SCHEDULE H

 

You need to fill out this form if you said “Yes” to any of the questions on lines A, B, or C.  A detailed list of instructions is provided by the IRS at the following link: http://www.irs.gov/pub/irs-pdf/i1040sh.pdf

“Household Employment Taxes Schedule H Step 1”

The following dates are important:

· January 31, 2012: give the employee a Form W-2

· February 29, 2012: send Copy A of Form W-2 along with Form W-3 to the Social Security Administration

· April 17, 2012: file Schedule H and pay the household employment taxes with the 2011 tax return

“Household Employment Taxes Schedule H Step 2”

You need to record the following information and dates in order to fill out this form:

· cash and noncash wage payments

· any employee social security tax withheld

· any employee Medicare tax withheld

· any federal income tax withheld

· any advance EIC payments you made

“Household Employment Taxes Schedule H Step 3”

If you paid a household employee $1,700 or more cash wages during 2011, you need to report and pay social security and Medicare taxes on all wages.  See page H-4 of the instructions for specific instructions on lines 1 through 7. 

“Household Employment Taxes Schedule H Step 4”

The FUTA tax provides payments for unemployment compensation for workers that have lost their job.  The FUTA tax is 6.2% before July 1 and 6.0% after June 30, but you may be able to take a credit up to 5.4% against the FUTA tax if you pay all required contributions by April 17, 2012.  Contributions do not include the following:

· any payments deducted from your employees’ pay

· penalties, interest, or special administrative taxes that are not included in the contributions rate by your state

· voluntary contributions you paid in order to get a lower experience rate

See pages H-4 and H-5 of the instructions for specific details on lines 8 through 21

“Household Employment Taxes Schedule H Step 5”

On line 23, enter the amount form line 6 (enter -0- if there is no entry on line 6).  On line 24, add the amounts on lines 14 and 23.  If you have to complete Section B of Part II, add the amounts on lines 22 and 23 for line 24.  For line 25, follow the instructions on page H-8. 

 


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