The W-2 Colorado form, officially known as the DR 1094, is a tax return utilized by employers to report the state income taxes withheld from employee wages. This form is essential for ensuring compliance with Colorado's tax regulations, as it details the total amount of tax collected during a specific filing period. Understanding the requirements and procedures for completing this form is crucial for both employers and employees in maintaining accurate tax records.
The Colorado W-2 Wage Withholding Tax Return, known as Form DR 1094, plays a crucial role for employers in the state. This form is specifically designed to report the total amount of Colorado income tax withheld from employees’ wages, as indicated on their W-2 forms. It serves as a vital tool for ensuring compliance with state tax regulations. Employers must accurately complete this form for each filing period, detailing the total tax withheld and any potential overpayments from previous periods. The form also includes sections for penalties and interest if filed late, which emphasizes the importance of timely submission. Additionally, employers have the option to file electronically through the Revenue Online system, making the process more efficient. For those who prefer traditional methods, a paper form can still be submitted. Understanding the nuances of this form is essential for employers to avoid unnecessary penalties and ensure that their tax obligations are met correctly.
DR 1094 (10/03/13)
COLORADO DEPARTMENT OF REVENUE
Denver, CO 80261-0009
www.TaxColorado.com
Colorado W-2 Wage Withholding Tax Return
(Withholding from W-2 forms only)
See Form at Bottom of Page
DETACH FORM
ON THIS LINEOnly use this coupon if you are not able to pay online or by EFT
Cut here and send only the coupon below. Help us save time and your tax dollars.
1000-100
Account Number
Period (MM/YY - MM/YY)
Due Date (MM/DD/YY)
FEIN
SSN 1
SSN 2
—
*131094==19999*
Signed under penalty of perjury in the second degree
Taxpayer Name or Business Name
1. Total Colorado tax withheld from wages
reportable on a W-2
(100)
Address
2. Overpayment of tax for prior record(s)
of the current year only
(905)
City
State
Zip
3. Line 1 minus line 2
Signature
Date (MM/DD/YY)
Phone Number
( )
4.
Penalty (see instructions)
(200)
The state may convert your check to a one time electronic banking transaction.
Your bank account may be debited as early as the same day received by the
State. If converted, your check will not be returned. If your check is rejected
5.
Interest (see instructions)
(300)
due to insuficient funds, the Department of Revenue may collect the payment
amount directly from your bank account electronically.
6. Amount Owed
(Do not write in space below)
(Total of lines 3, 4 and 5)
(355)
$
00
.00
Instructions for Completing
The DR 1094 is used by employers to report Colorado W-2 income taxes that have been withheld from employee pay. Review
publication FYI Withholding 5, Colorado Wage Withholding Tax
Requirements for detailed information about iling requirements and frequencies.
After completing payroll and withholding Colorado income taxes as deined by the Colorado Income Tax Withholding Tables for Employers (DR 1098), report here the total tax collected for the iling period. This is the Colorado withholding tax that will be
reported at the end of the year on federal form W-2-Wage and Tax Statement.
You may pay tax through Revenue Online,
www.Colorado.gov/RevenueOnline by echeck or credit card. Or, you may sign up for Electronic Funds Transfer (EFT).
Visit www.Colorado.gov/revenue/eft for information on how to register and pay through EFT. Do not ile a paper DR 1094 if you
remitted the withholding taxes via EFT. To prevent being billed by the Department when no taxes were withheld during the iling period, ile a zero return. A paper zero return may be mailed, or for fast and simple iling of a zero return access www.Colorado.gov/RevenueOnline and ile electronically.
Instructions for Amending Withholding Taxes
If you overpaid for a period, you may take a credit on a future
return in the current calendar year. The credit may be taken on a return/payment iled at www.Colorado.gov/RevenueOnline or a subsequent paper form W-2 Wage Withholding Tax Return (DR 1094). To claim the credit, deduct the overpayment from line 1 of
your return. You may only deduct an amount bringing your return to zero (0.00) for the period you are reporting. If you are unable to claim the credit on a subsequent DR 1094 within the calendar
year, you should claim a refund on your Annual Transmittal of
State W-2 Forms (DR 1093) for the appropriate year.
If additional tax is owed, ile another return for the period the tax is
due reporting only the additional amount owed at www.Colorado.gov/RevenueOnline If you cannot ile electronically, ile a paper DR 1094 reporting only the additional tax due for the period.
Refunds will be issued after receipt of your DR 1093 iled at the
end of February following the end of the calendar year.
FYI publications, forms, and answers to common questions are available at www.TaxColorado.com, the oficial Taxation Web site.
Or, you may call (303) 238-7378 to speak with a representative.
Account Number: List the Colorado business account number from your withholding certiicate or sales tax license. This number
is 8 digits. Do not list your FEIN or EFT number here.
Filing Period: List here the iling period for this return. Be sure you are using the correct period end date for your deined iling frequency.
Line 1 Enter the amount of Colorado income tax withheld for the period. If the tax is zero, ile a zero return through Revenue
Online at www.Colorado.gov/RevenueOnline
Line 2 If a previous period in the current tax year was overstated and paid, complete the worksheet below and calculate the overpayment for the tax period. See the instructions for
amending withholding taxes.
Line 3 Calculate the net amount due by subtracting line 2 from line 1.
Line 4 Complete only if return is being iled after the due date.
Penalty is calculated by determining how far past the due date the return is being iled. If the return is iled within the irst month after the due date, calculate the penalty at 5%
(.05) of the tax due, or $5, whichever is greater. For each additional month thereafter the return is delinquent, add one-half of 1% (.005), up to a maximum of 12%.
Line 5 Complete only if return is being iled after the due date. Refer to publication FYI General 11, Colorado Civil Tax
Penalties and Interest to calculate late payment interest. Enter the calculated interest amount on line 5.
Line 6 Add together the amounts listed on lines 3, 4 and 5. This
is the amount that is due. Make check or money order payable to the Colorado Department of Revenue. Use the
memo to clearly list “ W-2 WTH,” your account number, and tax period.
Mail to and make checks payable to:
Colorado Department of Revenue
Denver CO 80261-0009
See Below for Your Records
W-2 Wage Withholding Tax:
Overpayment
Underpayment
A. As Filed
B. As Corrected
C. Difference
1.Colorado tax withheld
Original Filing Period
Adjusted Filing Period
(if overpayment)
As Originally Filed
As Amended
Overpayment – You may take a credit on a future return in the
current calendar year only. See instructions above. If overpayment is claimed in a subsequent iling for the current calendar year, note
in the box Adjusted Filing Period the period date the credit was claimed.
Underpayment – Calculate the difference above. Report only the
difference for the period the additional tax is due per the instruc- tions above. Penalty and interest due will be calculated after the additional payment for the period has been received.
2.Overpayment (current year only)
3.Total 1 minus 2
4.Penalty
5.Interest
6.Total Paid
Date Paid
When dealing with the W-2 Colorado form, several other documents are often required to ensure accurate reporting and compliance with tax regulations. Understanding these forms can help streamline the process and avoid potential issues. Below is a list of commonly used forms alongside the W-2 Colorado form.
Familiarity with these forms will aid in navigating the complexities of tax reporting. Properly completing and submitting the necessary documents can help avoid penalties and ensure compliance with state and federal regulations.
Title Complete Notice Colorado - Dealers must possess a valid Colorado dealer's license at the time of application.
In California, it is essential to understand the implications of a Durable Power of Attorney, as it provides a reliable means for someone to designate another person to manage their financial responsibilities when they are unable to do so themselves. This legal document not only helps in maintaining continuity in financial decision-making but also reinforces the importance of having a plan in place. For more information on creating this vital estate planning tool, you can visit smarttemplates.net.
Colorado Dmv Appointment - Correctly fulfilling the requirements helps build a resident's profile within Colorado's system.
Colorado Pte Estimated Tax Payments - The inclusion of this form in your tax planning can lead to smoother financial outcomes.
After gathering the necessary information, the next step involves accurately completing the Colorado W-2 Wage Withholding Tax Return form (DR 1094). This form is essential for reporting the Colorado income tax that has been withheld from employee wages. Following these steps will ensure that the form is filled out correctly and submitted in a timely manner.
The IRS Form W-2 serves as a primary document for reporting wages and taxes withheld from employees. Similar to the Colorado W-2 Wage Withholding Tax Return (DR 1094), the W-2 is used by employers to report the total income earned by employees as well as the federal income tax withheld. Both forms require detailed information about the employer and employee, including names, addresses, and identification numbers. The W-2 is submitted to the federal government and provided to employees, allowing for accurate tax filing and compliance with federal tax laws.
The IRS Form 941, also known as the Employer's Quarterly Federal Tax Return, shares similarities with the Colorado W-2 form. Like the DR 1094, Form 941 is used to report income taxes withheld from employees’ wages, as well as Social Security and Medicare taxes. However, while the W-2 focuses on annual reporting, Form 941 is filed quarterly. Employers use both forms to ensure proper withholding and reporting of taxes, contributing to the overall accuracy of tax obligations for both state and federal levels.
The Colorado DR 1093, or Annual Transmittal of State W-2 Forms, is another document that aligns closely with the W-2. This form is utilized to report annual wage and tax information for all employees to the Colorado Department of Revenue. Similar to the W-2, it consolidates information from multiple employees into one form, facilitating the state’s oversight of tax compliance. The DR 1093 is typically filed after the W-2s have been issued to employees, ensuring that the state has a complete record of wages and taxes withheld throughout the year.
For those looking to ensure a legitimate transfer of ownership, the necessary documentation for a Boat Bill of Sale is crucial. This form plays a vital role in formalizing the sale process, providing both parties with the legal protection needed in the transaction.
The IRS Form 1099-MISC is also comparable to the Colorado W-2 form, particularly in its role for reporting income. While the W-2 is used for employees, the 1099-MISC is designed for independent contractors and freelancers. Both forms report income and tax withholding, but they cater to different employment classifications. The 1099-MISC provides necessary information for non-employee compensation, ensuring that all income is reported accurately to the IRS and relevant state authorities, including Colorado.
The W-2 Colorado form, also known as the Colorado W-2 Wage Withholding Tax Return (DR 1094), is a document used by employers to report the state income taxes withheld from employees' wages. This form is essential for compliance with Colorado tax laws and is submitted to the Colorado Department of Revenue.
Employers who withhold Colorado income taxes from their employees' wages are required to file this form. If you have employees and have withheld state taxes from their paychecks, you must submit the W-2 Colorado form to report those withholdings.
To complete the form, follow these steps:
Make sure to review the instructions carefully to ensure accuracy.
If you discover that you overpaid your withholding taxes, you can take a credit on a future W-2 Colorado form for the current calendar year. Simply deduct the overpayment from your current return. If you cannot claim the credit within the same year, you may need to file for a refund using the Annual Transmittal of State W-2 Forms (DR 1093).
Filing the W-2 Colorado form late may result in penalties. The penalty is calculated based on how late the form is submitted. For example, if filed within the first month after the due date, the penalty is 5% of the tax due or a minimum of $5, whichever is greater. Additional penalties may apply for each month the return is late, up to a maximum of 12%.
Yes, you can file the W-2 Colorado form electronically through the Colorado Department of Revenue's Revenue Online portal. This method is often quicker and helps ensure that your filing is processed efficiently. If you choose to remit your taxes electronically, do not file a paper form.
For more detailed information, including instructions and FAQs, you can visit the Colorado Department of Revenue's website at www.TaxColorado.com . You can also call their customer service at (303) 238-7378 for assistance.
When filling out the W2 Colorado form, there are important guidelines to follow. Here are six things you should and shouldn't do: