Instructions For Form 943-X - 2015 printable pdf download

Instructions for Form 943-X

Department of the Treasury

Internal Revenue Service

(Rev. February 2015)

Adjusted Employer's Annual Federal Tax Return for Agricultural Employees or

Claim for Refund

Section references are to the Internal Revenue Code unless

qualified employer's tax credit on wages paid to qualified

otherwise noted.

employees March 19–31, 2010; and advance earned income

credit (EIC) payments expired on April 15, 2014, for most

Future Developments

employers. The lines formerly used for these corrections

were removed from Form 943-X. If the period of limitations

For the latest information about developments related to

for any of these corrections is still open, you will need to file

Form 943-X and its instructions, such as legislation enacted

the February 2014 revision of Form 943-X. The February

after they were published, go to

2014 revision of Form 943-X is available on IRS.gov.

What's New

Retroactive increase in excludible transit benefits. The

Tax Increase Prevention Act of 2014 increased the monthly

Employee consents to support a claim for refund.

transit benefit exclusion from $130 per participating

Notice 2015-15 provides guidance to employers on the

employee to $250 per participating employee for the period

requirements for employee consents used by an employer to

of January 1, 2014, through December 31, 2014. Employers

support a claim for refund of overcollected social security tax

were provided instructions on how to correct the social

and Medicare tax. The notice and proposed revenue

security and Medicare taxes on the excess transit benefits in

procedure clarifies the basic requirements for a request for a

Notice 2015-2, 2015-4 I.R.B. 334, available at

consent and for the employee consent itself, and permits a

irb/2015-4_IRB/ar06.html.

consent to be requested, furnished, and retained in an

electronic format as an alternative to a paper format. The

Reminders

notice also requests comments and contains guidance

concerning what constitutes “reasonable efforts” if a consent

Correcting Additional Medicare Tax withholding.

is not secured to permit the employer to claim a refund of the

Beginning in 2013, wages subject to Additional Medicare Tax

employer share of overcollected social security tax and

withholding are reported on Form 943, line 6, and the

Medicare tax. For more information, see Notice 2015-15,

withholding is reported on line 7. Any errors discovered on a

2015-9 I.R.B. 687, available at

irb/2015–9_IRB/

previously filed Form 943 are corrected on Form 943-X,

ar07.html.

line 8. For more information about Additional Medicare Tax

withholding, see the Instructions for Form 943 and go to

Claiming the COBRA premium assistance credit. The

IRS.gov and enter "Additional Medicare Tax" in the search

COBRA premium assistance credit was available to an

box. See the instructions for line 8, later, for more information

employer for premiums paid on behalf of employees who

on the types of errors that can be corrected and how the

were involuntarily terminated from employment between

correction is reported on Form 943-X.

September 1, 2008, and May 31, 2010. The COBRA

premium assistance credit is not available for individuals who

Social security tax rate for 2011 and 2012. In 2011 and

were involuntarily terminated after May 31, 2010. Therefore,

2012, the employee social security tax rate was 4.2% and the

only in rare circumstances, such as instances where COBRA

employer social security tax rate was 6.2% (10.4% total). Be

eligibility was delayed as a result of employer provided health

sure to use the correct rate when reporting corrections on

insurance coverage following termination, will the credit be

line 6.

available. If you are eligible to claim the credit, use Form

Correcting the COBRA premium assistance credit. For

943-X, lines 16a and 16b. Form 943-X should be filed after

tax periods ending before January 1, 2014, employers who

filing your Form 943. Filing a Form 943-X before filing a Form

made COBRA premium assistance payments for assistance

943 may result in errors or delays in processing your Form

eligible individuals were allowed a credit on their Form 943.

943-X. For more information, visit IRS.gov and enter

Any errors discovered on a previously filed Form 943 for this

"COBRA" in the search box.

credit are corrected on Form 943-X, lines 16a and 16b.

If you are entitled to claim the COBRA premium

Effective for tax periods beginning after December 31, 2013,

assistance credit, but are not otherwise required to

Form 943-X is used to both report the total COBRA premium

TIP

file Form 943, file a Form 943 with -0- entered on

assistance credit an employer is entitled to claim and correct

line 15 before filing a Form 943-X to claim the credit.

any previously reported credit. For more information, see the

instructions for lines 16a and 16b, later.

Period of limitations to make certain corrections ex-

pired. Generally, you may correct overreported taxes on a

previously filed Form 943 if you file Form 943-X within 3

years of the date Form 943 was filed or 2 years from the date

you paid the tax reported on Form 943, whichever is later.

For purposes of the period of limitations, Form 943 is

considered filed on April 15 of the succeeding year if filed

before that date.

The period of limitations to correct the qualified employer's

tax exemption on wages paid to qualified employees; the

Mar 02, 2015

Cat. No. 20333Q

Instructions For Form 943-X - 2015

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