IRS Begs Comments on 40+ Employment Tax Forms
Published Date: 1/24/2025
Notice
Summary
The IRS wants your feedback on a bunch of employment tax forms to make filing easier and less time-consuming. If you’re a business or tax pro dealing with these forms, now’s your chance to speak up before February 24, 2025. No big fee changes yet, just a push to reduce paperwork hassle and improve the process.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
Large National Employer Compliance Cost
Employers collectively face a very large paperwork burden: the IRS estimates 7,408,820 respondents spending an average of 63 hours and 26 minutes each, totaling 470,000,000 hours annually. The IRS values that time at $15,420,000,000, adds $19,870,000,000 in out-of-pocket costs, and reports a total monetized burden of $35,290,000,000.
Smaller Employers Bear Higher Per-Employer Burden
Per-employer burden is larger for small filers: employers filing 1 to 5 W-2s average 16.1 hours, $606 in out-of-pocket costs, and $1,049 in total monetized burden each year, while employers filing over 1,000 W-2s average 0.4 hours, $15 out-of-pocket, and $29 total burden. The overall average across all employers is 11 hours, $426 out-of-pocket, and $738 total burden.
Per-Employee Burden Varies by Form Filed
The IRS reports different average annual burdens per employee depending on the primary form filed: for Form 941 the average is 10.9 hours, $431 out-of-pocket, and $744 total monetized burden per employee; for Form 943 it is 19.2 hours, $288 out-of-pocket, and $601 total; for Form 944 it is 11.5 hours, $207 out-of-pocket, and $347 total.
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Key Dates
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