Payroll Tax

We have listed the tax deadlines for making deposits and filing returns for January below: Semi-weekly depositors. Semi-weekly depositors must deposit the income tax they withheld from employee wages, and both the employee and employer share of Social Security and Medicare Taxes (FICA taxes), by the end...

Some small businesses pay employment tax quarterly while others may pay it just once a year. The IRS advises small business owners to review the rules for filing two commonly used employment tax returns. The two forms are: •  Form 941, Employer's Quarterly Federal Tax Return •  Form...

If you run a business, you need to know about the following forms. Form W-2 Employers must complete a Form W-2 for each employee. Employee wages, taxes withheld and other payroll related information are reported annually on the W-2. However, W-2s aren't filed directly with the IRS....

The IRS has issued a third version of Form 941 (Employer's Quarterly Federal Tax Return) and its instructions for 2020 that is to be used with the third and fourth quarters of this year. Background. The IRS initially issued the 2020 Form 941 in late-February 2020 with no changes to the form from...

Your company is growing, and now you have an office full of employees and the questions that come along with that responsibility, such as figuring out each person's tax liability based on their W-4 forms and calculating overtime for nonexempt staff. Did you know you...

WASHINGTON -- President Trump's monthslong insistence on a payroll-tax cut continues to shape discussions over the next round of economic relief despite a lukewarm reception from economists and lawmakers in both parties. Mr. Trump's basic argument -- lower payroll taxes reduce hiring costs and put money in workers' pockets --...