Have you been patiently waiting for another game of Guess That Tax Form? I know the ExpressTaxFilings Team has. During these in-between tax season months, the ETF Team works hard at improving their filing knowledge but there are only so many days you can read endless info on the IRS website. So to add a little excitement back into the wonderful world of tax forms, ExpressTaxFilings is back with a brand spankin’ new edition of Guess That Tax Form (insert roaring applause)!
The rules have not changed, but if you are new to the game here is everything you need to know:
– The goal is to name a Tax Form correctly without searching for the answer; that means you can not search online, phone a friend, or poll the office. As always when you get the question right, because we know you will, it’s time for a self-five, High V, or special celebratory dancing. When you get the question wrong you will hear an imaginary buzzer…shhh…do you hear it? Okay my tax friends, enough of this craziness let’s play the game.
To start the game, you know what to do…say it loud, say it proud… all together now – Guess That Tax Form!
First Form: This unique IRS form is used to report payments for services performed for a business by people not treated as its employees, such as payments to subcontractors, rent payments or prizes. Here is a hint: One must file this form if there were direct sales of at least $5,000 of consumer products to a buyer for resale anywhere other than a permanent retail establishment.
(insert I Can’t Get No by the Rolling Stones)
Now that we’re done rockin’ with Stones…can you Guess That Tax Form? Answer
Second Form: This particular form has one job that is applied to many different forms. The purpose of this form is to correct errors (such as incorrect name, SSN, or amount) on a previously filed Forms W-2, W-2AS, W-2CM, W-2GU, W-2VI with the SSA. You can also use this form to provide a corrected (here we go again with the w’s) W-2, W-2AS, W-2CM, W-2GU, W-2VI to employees. Talk about a tongue twister.
(insert Bohemian Rhapsody by Queen and whale out on that air guitar)
Justin “Nordic Thunder” Howard would be proud of your air guitar skills! Are you ready to Guess That Tax Form? Answer
Third Form: You make this game look easy. I’m going to have to turn the skill level up to expert for this one. Here we go – When you need to prolong the day set by the IRS for a Form W-2, 1097, 1098, 1099, 3921, 3922, W-2G, 1042-S, 5498-ESA, 5498-SA and 8027 deadline, this form is your best friend. An automatic 30-day extension can be gained by either paper filing or e-filing this form and is due when when the form it is extending is due.
(insert Paradise City by Guns N’ Roses, it’s a classic rock kinda day)
For the title of Guess That Tax Form Champion, can you…Guess That Tax Form? Answer
As the confetti falls from the ceiling and We Are The Champions plays in the background, the ExpressTaxFilings Team congratulates you on this well deserved victory. Remember to always combine tax forms and classic rock for instant fun and we will see you next time on Guess That Tax Form when you defend your championship title!