Form Instruction W-2 & W-3 online Kentucky 2024-2025

Form Instruction W-2 & W-3 online Kentucky: What You Should Know

Resident employees — Employees who work and live in Louisville •. Nonresidents — Employees who work and live outside the United States The three basic rates are: •. Resident rate is the same as the federal tax rate: •. Nonresident rate is the same as the state tax rate (see State) •. Nonresident rate is the same as the local tax rate (see Local) •. Resident and nonresident employees' earnings are taxed at the same rate. All forms must be paid, and the employee tax rate listed on the form must be paid on the correct date. For pay periods before March 3, 2014, the tax rate for 2025 will be used for all forms for that period. For pay periods after March 3, 2014, the tax rate used in 2025 will be used for all forms for the applicable period. In 2015, the tax rate for salaries on or after February 23, 2015, will be used for all forms for that period. Employees must report the appropriate amounts on Schedule A, Form W-2, as wages earned within or outside the United States. If you have a foreign earned income exemption (FEE) in the amount of the income subject to the tax, you need to include the total amount of that exemption on your tax return. See the instructions for Schedule Q (Form 1041). You must include employee social security contributions to Form H & I for all wages reported on Forms W-2 or W-3. You must include railroad retirement contributions in Box E of Form W-2 (or W-3) for all wages reported on Forms W-2 or W-3. Include all employee business expenses on Form W-2 or W-3, even if the value of any business expenses is 200 or less for the tax year. You must allocate the employer business expenses on Form 1040 or Form 1041. If applicable, you must allocate amounts received from a mutual fund as a nonemployee business expense on Form 1040 (or Form 1041) to include as wages earned during the year. • Payroll expenses must be allocated in accordance with the provisions of §1.861-3(d)(2)(i). • If your taxable gross income includes certain sources of income such as rental income from your own real property, and you have any net rental income from property other than real property, you need to have your net rent included in your gross income. • Use Form 1040 or Form 1040A.

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