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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.