As you close the books on 2011 and prepare for 2012, you should remind your employees to adjust their payroll tax withholding for both federal and state. As personal tax returns are completed, and the amount of income tax that’s refunded or owed is fresh on everyone’s mind, it’s an ideal time to adjust up or down the amount withheld. Here are links to the payroll forms:
New employees will also need to fill out an I-9 Employment Eligibility Verification form.
Finally, if you’ve used subcontractors, pay rent, have paid legal fees, or plan to use subcontractors, you’ll need to get a W-9 Request for Taxpayer Identification Number and Certification filled out for each subcontractor.