The Annual Statement of Deposits and Filings is used by which type of clients?

The Annual Statement of Deposits and Filings is specifically utilized by clients who do not receive a Form 941. Form 941 is the Employer's Quarterly Federal Tax Return, which reports income taxes, social security tax, or Medicare tax withheld from employee's paychecks. Clients that are not subject to this quarterly reporting typically include those who do not have any employees or are involved in other types of payment arrangements that fall outside the standard employee payroll structure.

This document serves to summarize specific annual payment and filing requirements for those clients. By focusing on the needs of clients without Form 941, the Annual Statement provides vital compliance information and support for their tax obligations. It allows these clients to properly organize their annual filings and understand their payment responsibilities as they pertain to the types of income they report, which aren't bound by the same requirements as those with regular employee payrolls.