Listed below are some of the most commonly requested forms by clients. We have briefly explained each, but if you have any questions, please do not hesitate to contact our staff.
Payments to independent contractors
W-9 (PDF) This form is to obtain the information necessary to issue a Form 1099 at year end for you to avoid a $500 penalty. You should have independent contractors complete this form before you pay for their services; it will be difficult to obtain later.
Form 1099's are required to be issued for all business or rental expense payments for services, rent, or interest that total $600 or more in a calendar year to one recipient. Payments to a corporation do not need to be reported unless they are to attorneys or veterinarians. Most LLC’s are not corporations and must be issued a 1099.
Forms for new employees
Four forms are mandatory for all new employees; employers and employees are each required to complete certain parts upon hire. The federal and Iowa W-4 should be completed at the beginning of each calendar year thereafter.
W-4 (PDF) This form is filled out by the employee to provide the employer the information needed to calculate the federal tax to withhold from their paychecks. A new form should be completed by each employee at the beginning of each calendar year.
IA-W-4 (PDF) The top portion is to be completed by the employer and must be sent to the state within 15 days of the employee's hire date instructed on the form, after the employee and employer have completed the form; this is for the child support recovery unit. The bottom portion is to be completed by the employee and gives the employer the information to calculate the amount of Iowa tax to withhold from the employee’s paycheck. The bottom portion of the form should be completed by each employee at the beginning of each calendar year and is not required to be sent to the state (unless more than 22 allowances are claimed); it should be retained by the employer.
I-9 (PDF) The first page must be completed by the employee and the second page by the employer. The employer must verify the employee provided information using certain documents as instructed on the form. Many employers copy the documents and attach them to the form. The purpose is to document the employee is not an illegal immigrant and must be kept in the employer’s permanent file. The Department of Homeland Security has the right to request it with no advance notice; we have seen the department arrive with no notice and ask for these forms. There are penalties if the form is not on file or it is incomplete.
Notice of insurance availability for employers:
As part of the Affordable Care Act, beginning October 1, 2013 employers are required to provide employees with written notification regarding the alternative of using the state insurance exchange. Two forms are shown below, one is for employers who do not offer health insurance to their employees, and the other for those that do offer health insurance. Employers are required to complete Part B and provide the notice to new employees within 14 days of their employment start date.
Employers who offer health insurance (PDF)
Employers who do not offer health insurance (PDF)
Other Helpful Links
Publication 15 (PDF) This publication explains your tax responsibilities as an employer. It explains the requirements for withholding, depositing, reporting, paying, and correcting employment taxes. It explains the forms you must give to your employees, those your employees must give to you, and those you must send to the IRS and SSA. This guide also has tax tables you need to figure the taxes to withhold from each employee’s wages. References to “income tax” in this guide apply only to “federal” income tax.
Iowa Dept. of Rev Withholding Tax Guide (PDF)
Farm Income/Expense summary (PDF)
Individual Checklist and Planning (PDF)
Individual Income Tax Worksheet (PDF)
Purchase/Sale of Property (PDF)
Rental Income/Expense Summary (PDF)
Schedule C Worksheet (PDF)
W-2 and 1099 Preparation (PDF)
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