Withholding Tax Update - Wisconsin Department Of Revenue

WITHHOLDING TAX UPDATE

2012‑1

December 2012

The Withholding Tax Updates are no longer being printed, but will continue to be available at revenue.wi.gov.

In This Issue

Page

Withholding Tax Rates .....................................................

Exemption for County Fair Associations Increased .........

Filing Frequency Changes ...............................................

Job Creation Deduction ....................................................

Did You Know? ................................................................

Relocated Business Credit or Deduction .........................

Deposit Report (WT‑6) Filing and Payment Options ......

Veteran Employment Credit .............................................

Annual Reconciliation (WT‑7) Filing and Payment Options

My Tax Account Update ...................................................

Form W‑2 Electronic Filing .............................................

Employees Claiming Exemption from Withholding ........

Wage Statements and Information Returns ......................

Withholding Lock‑In Letters ...........................................

Automatic Reporting Waiver ...........................................

Tips or Gratuities Received from Customers ...................

Amended Annual Reconciliation .....................................

New Hire Reporting Requirement ...................................

Transit Pass & Commuter Fringe Benefits ......................

Financial Institutions and Insurance Agencies .................

Health Care Benefits for Adult Children under Age 27 ...

Reminder Relating to Third Party Sick Pay .....................

Treatment of Health Savings Accounts (HSAs) ..............

Pass‑Through Entities: Quarterly Estimated Payments ..

Reciprocity Agreements ...................................................

Withholding Tax Electronic Mailing List ........................

Retirement & Pension Payments .....................................

Where to Direct Questions ...............................................

Election Worker Exemption from Income Tax Withholding

WITHHOLDING TAX RATES

The current withholding tax rates remain in effect. These rates are available in

Publication

W‑166, Wisconsin Employer’s

Withholding Tax Guide, for payroll periods beginning on or after October 1, 2009.

FILING FREQUENCY CHANGES

Each year the department runs an annual scan process, which evaluates the amount of your deposits from the last year and

adjusts your filing frequency accordingly. The department ran this process in November to determine your filing frequency

for 2013 withholding tax deposits. Taxpayers are notified in writing of their new filing frequency if it was changed.

DID YOU KNOW?

You must file and pay your withholding deposit reports, Forms WT‑6, electronically if your deposits were $300 or more

in the prior year. In addition, the annual reconciliation, Form WT‑7, must be filed electronically. If these requirements

create an undue hardship, you may request an e‑filing/e‑payment waiver by completing Form EFT‑102, Electronic Filing

or Electronic Payment Waiver Request.

There are several methods available to file and pay your withholding electronically, including the option to file and pay

over the telephone. When you file/pay electronically, you have the added security of receiving a confirmation number for

your transaction. Are you looking for a return, payment confirmation or letter from the department? Are you looking for

your account status? This information is available to My Tax Account users as soon as they log in. My Tax Account is the

department’s most widely used electronic filing and payment option. Read on for additional filing options.

WTU001 (R. 12-12)

Withholding Tax Update - Wisconsin Department Of Revenue - 2012

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