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the pay period, pensioners, or members of the Armed

included on your Monthly Summary of Federal Tax Liability

Forces.

on Form 943 (line 15) or Form 943-A, Agricultural

Employer’s Record of Federal Tax Liability. For details on

An entry of 250 or more on line 1 indicates that you must

how to report adjustments on the Monthly Summary of

file Forms W-2 electronically. Call the SSA at

Federal Tax Liability, see the instructions for line 15 below

1-800-772-6270 or visit the SSA’s Employer W-2 Filing

or the instructions for Form 943-A.

Instructions and Information website at

for more information on

Explain any prior year adjustments on Form 941c,

electronic filing requirements. SSA no longer accepts

Supporting Statement To Correct Information, or attach a

magnetic media submissions of wage information.

statement that shows the same information. Enter on

Form 941c or include in the statement the total wages for all

Line 2 — Total wages subject to social security tax.

of your employees as previously reported and as corrected.

Enter the total cash wages subject to social security tax that

Do not file Form 941c (or statement) separately from

you paid to your employees for farmwork during the

Form 943.

calendar year. Enter the amount before deductions. Cash

wages include checks, money orders, etc. Do not include (a)

If you are adjusting an employee’s social security or

the value of noncash items such as food or lodging, or (b)

Medicare wages for a prior year, you must also file Form

pay for services other than farmwork. See Purpose of form

W-2c, Corrected Wage and Tax Statement, and Form W-3c,

on page 2 for household employee information. See

Transmittal of Corrected Wage and Tax Statements, with

section 3 of Pub. 51 (Circular A) for information on taxable

the Social Security Administration. You can get these from

wages. Do not report an employee’s social security wages

the IRS by calling 1-800-829-3676.

over $97,500 for 2007. If you, as a qualifying employer,

Federal income tax adjustments. Generally, you

receive an approved Form 4029, Application for Exemption

cannot adjust amounts reported as federal income tax

From Social Security and Medicare Taxes and Waiver of

withheld in a prior calendar year unless it is to correct an

Benefits, from one or more of your employees, write

administrative error. An administrative error occurs if the

“Form 4029” to the right of the entry space.

amount that you entered on the return is not the amount that

Line 4 — Total wages subject to Medicare tax. Enter the

you actually withheld. See section 9 of Pub. 51 (Circular A)

total cash wages subject to Medicare tax that you paid to

for details.

your employees for farmwork during the calendar year.

Line 9 — Total taxes. Combine lines 7 and 8; enter the

Enter the amount before deductions. Do not include (a) the

result on line 9.

value of noncash items such as food or lodging, or (b) pay

Line 10 — Advance earned income credit (EIC) payments

for services other than farmwork. There is no limit on the

made to employees. Employees who are eligible can

amount of wages subject to Medicare tax. If you, as a

receive advance earned income credit (EIC) payments with

qualifying employer, receive an approved Form 4029 from

their wages by giving you Form W-5, Earned Income Credit

one or more of your employees, write “Form 4029” to the

Advance Payment Certificate, annually. For more

right of the entry space.

information, see sections 6 and 14 of Pub. 51 (Circular A).

Line 6 — Federal income tax withheld. Enter federal

Line 12 — Total deposits. Enter the total amount

income tax withheld on wages paid to your employees.

deposited for the year, including any overpayment from

Generally, you must withhold federal income tax from

2006, as shown in your records.

employees from whom you withhold social security and

Line 13 — Balance due. You do not have to pay if line 13

Medicare taxes. See sections 5 and 13 of Pub. 51

is under $1. Generally, you should show a balance due on

(Circular A) for more information on withholding rules.

line 13 only if your net tax liability for the year (line 11) is

Line 8 — Adjustment to taxes. Use line 8 to:

•

less than $2,500. However, see section 7 of Pub. 51

Adjust for rounding of fractions of cents.

•

(Circular A) regarding payments made under the accuracy

Adjust for the uncollected employee share of social

of deposits rule. Complete Form 943-V, Payment Voucher, if

security and Medicare taxes on (a) third-party sick pay or (b)

you are making a payment with Form 943.

group-term life insurance premiums paid for former

employees. See section 9 in Pub. 51 (Circular A).

If you fail to make deposits as required and instead

•

Correct errors in social security and Medicare taxes

pay the taxes with Form 943, you may be subject to

reported on a prior year return.

a penalty.

CAUTION

•

Correct an administrative error in reporting federal income

Line 14 — Overpayment. If you deposited more than the

tax withholding on a prior year return. See section 9 in

correct amount for the year, you can have the overpayment

Pub. 51 (Circular A).

refunded or applied to your next return.

Use a minus sign (if possible) to show a decrease to the

If line 14 is under $1, we will send you a refund or

amounts reported on lines 3 or 5. Otherwise, use

TIP

apply it to your next return only on written request.

parentheses.

Fractions of cents. If there is a small difference

between net taxes (line 11) and total deposits (line 12), it

Line 15 — Monthly Summary of Federal Tax Liability.

may be caused by rounding to the nearest cent each time

This is a summary of your yearly tax liability, not a summary

you computed payroll. This rounding occurs when you figure

of deposits made. If line 11 is less than $2,500, do not

the amount of social security and Medicare tax to be

complete line 15 or Form 943-A.

withheld from each employee’s wages. If the fractions of

Complete line 15 only if you were a monthly schedule

cents adjustment is the only entry on line 8, write “Fractions

depositor for the entire year and line 11 is $2,500 or more.

Only” on the dotted line to the left of the entry space for

The amount entered on line 15M must equal the amount

line 8.

reported on line 11. See section 7 of Pub. 51 (Circular A) for

Prior year adjustments. Prior year adjustments include

details on the deposit rules. You are a monthly schedule

errors in social security and Medicare taxes reported on a

depositor for the calendar year if the amount of your

previously filed return. If you report both an underpayment

Form 943 taxes (line 9) reported for the lookback period is

and an overpayment, show only the difference.

not more than $50,000. The lookback period is the second

Because any amount shown on line 8 increases or

calendar year preceding the current calendar year. For

decreases your tax liability, the adjustment must also be

example, the lookback period for 2008 is 2006.

-3-

Instructions For Form 943 - Employer'S Annual Federal Tax Return For Agricultural Employees - 2007 Page 3

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