Find the Right Federal Tax Forms for Reporting Wages and Compensation
When tax season arrives, having the right business tax forms on hand helps with reporting worker's wages, contract payments and other types of compensation.
The tax forms your business needs will depend on your structure and how you compensate workers. Always confirm with your accountant or the IRS to ensure you're using the correct forms for your situation.
Popular business tax forms available from Deluxe
W-2 Wage and Tax Statement: Used by employers to report annual wages and withheld taxes for each employee. In addition to traditional W-2 forms for employee wages, Deluxe also offers these related IRS correction and information return forms:
- W-2c - Used to correct errors discovered on an already issued W-2
- W-2G - Used by businesses or organizations that pay gambling winnings to report those payments
1099 Forms: Used by employers to report earnings paid to independent contractors and non-employees. Deluxe offers several types of 1099 forms the IRS may require from businesses:
- Two of the most common 1099 Forms are the 1099-MISC (Miscellaneous Information) and 1099-NEC (Nonemployee Compensation)
- Other 1099 Forms offered by Deluxe are 1099-A, 1099-B, 1099-C, 1099-DIV, 1099-G, 1099-INT, 1099-K, 1099-PATR, 1099-R and 1099-S
Deluxe also offers tax preparation software, as well as blank tax forms compatible with laser or inkjet printers. Check out our guide on the benefits of using tax preparation software.