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Form 945 for Kansas City Missouri: What You Should Know

Form RD-114 is available to individuals. See these web pages to get more information about what the IRS requires for form 945. Form 945 Online or Check for 2017 May 31, 2024 — Form 945 Annual Return Filing in Kansas City Form 945 For Individuals For the 2024 tax season, taxpayers need not pay a 2% additional tax on all unearned income to the individual income tax withholding tax return. In other words, taxpayers should not have to pay double. When you file your 2024 tax return, the payer will deduct the 2% withholding tax from your refund, then add that amount back to your Form 945 to show an actual tax you are paid! But wait, there's more…. Here is a few helpful facts about the 2% additional tax… Individual income tax withholding Taxpayer income subject to 2% additional tax All earnings up to 8,400 The 2% extra tax applies to all amounts from all income. It doesn't take into account the amount of business profits and taxable income. Here are some examples of the different income tax rates that you will be subject to when you file your return… For 2017, Kansas City's 2% additional tax rate is 7.5%, even if you are filing a Form 3949 (withholding) return. Kansas's 7.5% additional tax rate does not apply to any form of social security income. Kansas income tax rates Effective July 1, 2014, for individuals filing their tax return on a Kansas Individual Income Tax Return and filed before April 18, 2015, the rate will increase to 7.25%. For individuals filing their taxes on a Kansas Individual Income Tax Return filed on or after April 18, 2015, the rate will increase to 7.50%. The rate will not change for tax year beginning on or after July 1, 2016. The rate applies to taxable income earned after February 14, 2011. For more information, click here. Withholding on Kansas Business Tax Kansas tax withholding for Kansas businesses is based on income. The tax withholding amount is determined by your Federal Taxpayer Identification Number (FIT). FIT's are assigned to people working at a Kansas Business. An individual's FIT is assigned to that individual. The Kansas Board of Self-Employment (DOES) creates the FIT for each individual who operates a Kansas business.

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