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668 W C Do instructions Form: What You Should Know
IRS 668-W(c) will require that you: Complete and attach a copy of your business filing, Form 1099 (or equivalent); Pay all the fees and taxes; Include any additional attachments as appropriate; and Submit Form 668-W(c) and Form 1099 as a separate document. You Need a Complete Business File If you have no business filed in your country or a business which is an “exempt” operation (not listed in the U.S. Form 1099) and you fail to file the Form 668-W, don't worry. You can receive Form 1099, not 1098-EZ, and pay tax in the same year you file your 668-W. Taxpayers who do not file their 1099s with Form 6038-F are subject to income tax at the lower 25% rate for the tax year they are notified by an IRS assessment of a levy on their wages or salary. If you are self-employed, your employer should receive a levy and withhold at the same time. Form 668-W is only for employers. Taxpayers are still required to file a Form 1099 and pay income tax in the usual way. What Is Wages, Salary and Other Forms You Can Use Form 5831 — A statement under penalty of perjury of an adjustment (increase) in pay for each month or part month over the period of pay during which you are considered subject to a levy. Form 8606 — Statement from certain qualified self-employed individuals about their income and taxes. Form 8606—Statement Regarding Income Form 8861 — An income tax return for a business which did not file a Form 668-W in the previous tax year. Note: If you paid at least 600 in wages in the year, file Form 8861 not Form 5496, in order to claim the 300 credit on your return filed after the end of the tax year. Other Requirements If you receive a Notice of Levy on Wages, Salary, or Business Exemption, include details on income you received, including: Form W-2 from each of your employees. Pay stubs for any other employees. For more information about filing a W-4 and other Forms with Form 668-W and Form 668-W(c), refer to “Forms with W-4s”—Part II of the guide.
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