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Internal Revenue Service (IRS)

The IRS is a federal agency that is responsible for collecting taxes and enforcing tax laws. Here’s what Gusto does to help keep customers compliant with the IRS:

Payroll

  • Automatically calculate taxes on supported benefits per IRS guidelines for Social Security, Medicare, income tax withholding, and federal unemployment (FUTA).

  • Generate W-2s and provide them for your team in their Gusto accounts.

  • File taxes on your behalf based on the deposit schedule you’ve set up in your Gusto account.

Benefits

  • Gusto helps with IRS pre-tax benefit requirements that are also embedded in the ACA, ERISA, and DOL regulations. 

  • Gusto sets up Section 125 or “cafeteria plans” and establish pre-tax benefits, including memorialization under plan documents. 

  • If your company has 50 or more FTE in the previous calendar year, Gusto completes ACA compliant filings for 1094-C and 1095-C forms—these forms confirm compliance with the employer mandate and are often referred to as the “W-2” for health benefits. Your insurance carrier will mail 1095-B forms directly to your employees.

  • The Section 125 document is available to employers in the Benefits section of the company’s Documents page, as part of the Health and Welfare Plan Document.

Payroll, benefits, HR and more.