Form 8922: Third-Party Sick Pay Recap
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Form 8922: Third-Party Sick Pay Recap

Organizations are required to file Form 8922 under certain conditions; this article provides an overview of who must file the form, when they must file it, and instructions for completing it.

What is Form 8922?

Form 8922 is an IRS form for employers or insurers/agents to report and pay social security and Medicare taxes on sick pay earned by employees covered by insurance or agent contracts. Filing Form 8922 is required when the liability for the employer’s share of social security and Medicare taxes is reported on the employer’s employment tax return. To be filed by February 28, 2023, Form 8922 needs to include the filer’s name, employer ID number, and details of the amount of sick pay subject to tax, income taxes withheld, and Medicare taxes withheld. Private delivery services cannot deliver to the specified address, and substitute forms must meet the standard set by official Form 8922. For more information, see related IRS publications.

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IRS Form 8922 – Who Needs to Fill It Out?

IRS Form 8922 is needed to be filled out by both employers and insurers/agents if the liability for the employer’s share of social security and Medicare tax is reported on the employer’s employment tax return. Private delivery services must use a different address than those in the US. The form requires the filer’s name, EIN, other party’s information, as well as data on taxes subject to federal income tax, social security tax, and Medicare tax. Corrections can be made if necessary, and records should be kept for a minimum of 6 years. OMB control number 1545-0123 applies.

Step-by-Step: Form 8922 Instructions For Filling Out the Document

Generally, both the employer and the insurer or agent must file this form, depending on the circumstances. It must be filed by February 28, 2023, and sent to the address specified for your particular area. You must supply the filer’s name and EIN, as well as the other party’s name and EIN, and complete the boxes with the corresponding information. In addition, employers with contracts with more than one insurer or agent must file a separate Form 8922 for each contract. Before filing a substitute form, review the official version of Form 8922 for its requirements and Pub. 1167. Ensure that you keep all records of employment taxes for at least 6 years, as they may be subject to an IRS review.

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Below, we present a table that will help you understand how to fill out Form 8922.

Information Required for Form 8922 Details
Filing Deadline Must be filed by February 28, 2023
Filing Parties Both the employer and the insurer or agent may need to file, depending on circumstances
Filer’s Information Supply the filer’s name and EIN
Other Party’s Information Provide the other party’s name and EIN
Multiple Contracts Employers with contracts with more than one insurer or agent must file a separate Form 8922 for each contract
Review Official Form Before filing a substitute form, review the official version of Form 8922 and Pub. 1167 for requirements
Record Keeping Keep all records of employment taxes for at least 6 years, as they may be subject to an IRS review
See also:  Form 8919: Uncollected Social Security and Medicare Tax on Wages

Do You Need to File Form 8922 Each Year?

Form 8922 must be filed by either the employer (if the sick pay is reported on Forms W-2 under the name and EIN of the insurer or agent) or the insurer or agent (if the sick pay is reported on Forms W-2 under the name and EIN of the employer). The form should be filed by February 28, 2023, and sent to the address corresponding to the employer’s business state. A substitute Form 8922 may be used if it complies with the official form and does not impact processing. Keeping relevant records for at least 6 years is required.

Download the official IRS Form 8922 PDF

On the official IRS website, you will find a link to download Form 8922. However, to make it easier for you, we are providing the link in our article, which comes directly from the official irs.gov website! Click to download: Form 8922

Sources:

https://www.irs.gov/forms-pubs/about-form-8922

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