Instructions for IRS Form 945 Annual Return of Withheld Federal Income Tax

IRS Form 945 Annual Return of Withheld Federal Income Tax

This document contains official instructions for IRS Form 945 , Annual Return of Withheld Federal Income Tax - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 945 is available for download through this link.

FAQ

Q: What is IRS Form 945?A: IRS Form 945 is used to report withheld federal income tax from non-payroll payments.

Q: Who needs to file IRS Form 945?A: Businesses and individuals who withhold federal income tax from non-payroll payments need to file IRS Form 945.

Q: When is IRS Form 945 due?A: IRS Form 945 is generally due on January 31 following the end of the calendar year.

Q: What kind of payments are reported on IRS Form 945?A: IRS Form 945 is used to report federal income tax withheld from non-payroll payments, such as pensions, annuities, gambling winnings, and backup withholding.

Q: Are there any exceptions for filing IRS Form 945?A: There are exceptions for certain types of payments, such as military retirement pay and Indian gaming profits, which are not reported on IRS Form 945.

Q: What are the consequences for not filing IRS Form 945?A: Failure to file IRS Form 945 or filing it late can result in penalties and interest charges.

Q: Are there any additional forms or schedules that need to be filed with IRS Form 945?A: In some cases, businesses may also need to file Schedule B (Form 945), which provides additional information on the payments reported on IRS Form 945.

Q: How do I submit IRS Form 945?A: IRS Form 945 can be filed electronically through the IRS's e-file system or by mailing a paper copy to the appropriate IRS address.

Q: Can I request an extension to file IRS Form 945?A: Yes, businesses can request an extension by filing Form 8809, Application for Extension of Time To File Information Returns, before the due date of IRS Form 945.