Payroll Taxes

OASDI/EE fees are important things to know when doing payroll tax. Learn what OASDI/EE fees are on payroll tax with help from a business consultant and marketing expert in this free video clip.

The statue of limitations on payroll tax depends on a few key things. Find out about the statute of limitations on payroll tax with help from an attorney in this free video clip.

Early retirement disbursements and payroll taxes are very closely tied together. Find out about payroll taxes on early retirement disbursements with help from an investment adviser in this free video…

Accrued salary is a common year-end adjusting entry made by most companies that have employees. The purpose of the entry is to match revenues and expenses in the time period in which they were…

Payroll tax managers ensure that companies are in compliance with federal law and that employees get paid properly and on time. The Bureau of Labor Statistics indicates that over 1 million auditors…

A Roth 401k plan requires you to make your contributions in after-tax dollars while a traditional 401k plan permits you to make contributions in pretax dollars. If your employer offers employee…

Arizona unemployment benefits provide temporary payments to workers unemployed through no fault of their own. As an employer, you fund this program through your payroll taxes. Your contribution is…

Payroll broadly refers to the part of business involved in paying employees. In payroll, companies manage deposits into retirement accounts, make sure that checks are sent out to all employees for the…

Performing payroll involves making numerous tax deductions ranging from income tax to Social Security taxes and medicare taxes. Before you can deal with these deductions you must calculate a simple,…

As in most states, your Social Security number acts as an unemployment number and a payroll tax reference code in Massachusetts. You need to provide it to the Massachusetts Labor and Workforce…

An hourly employee receives payment based on hours worked during the pay period. Employers are required by law to implement regular paydays and compensate employees within the established time frame.…

Though employers and employees share the responsibility for paying payroll taxes, it is the employer that actually remits the payments to the federal government. Employers pay payroll taxes…

Sign-on bonuses are offered by some employers to entice employees. The sign-on bonuses might require the employee to work in a job or with the company for a certain amount of time. While a sign-on…

Laws governing payroll processing are set at the state level rather than the federal level, and these laws vary greatly from state to state. If your employer mistakenly underpays you or pays you too…

Trust fund taxes are the federal taxes withheld from employee paychecks. These wages belong to workers, but employers remit them to the government. The employer holds the funds in trust until paying…

The financial crisis of 2008 and the resulting Great Recession put a huge strain on both the United States and international banking systems, and literally hundreds of banks have closed or merged…

Some business owners abuse the flexibility of the S corporation format by treating business income as a personal piggy bank. Owning a business does not invest an owner with unlimited rights to…

Eight percent of employees claim to arrive to work late at least twice a week, according to a 2010 Career Builder survey. Chronic tardiness could lead to lower productivity and the appearance of…

Disability insurance is either purchased through workplace plans our individually. While consumers purchase individual plans with previously taxed money, they often purchase workplace plans as a…

Employers are required to withhold social security and income taxes from their employees and remit the employer's portion of the payroll taxes. The frequency that these taxes must be remitted to the…

Accounting requires the use of different journals to properly account for business transactions. Each journal contains specific information on transactions. Common journals include general, cash,…

Although it's been called Taxachusetts, Bay State residents may qualify for a variety of state income tax deductions. Non-residents who spend a significant part of the year in the state may also…

Half of small businesses don't survive past five years, and salaries often make up the bulk of expenses for a small business. As such, businesses find themselves unable to meet payroll more often than…

New Jersey has easy access to the shore and close proximity to New York City, Philadelphia and Atlantic City. It also ranks among the country's most expensive places to live, with high property and…

A bonus is a payment that a business makes over and above the salary or wages that an employee is set to receive. Bonus programs are created at the discretion of the company and often award managers…

Among a business's assets are land, buildings, equipment, inventory and cash. A business that is generating profits has several options for using those profits. It may reinvest them in producing more…

Unlike some states that require employees to only pay state income tax, Ohio has additional requirements. Along with state income tax, depending on where the employee lives, she might have to pay…

The Internal Revenue Service uses an electronic federal tax payment system, referred to as EFTPS, to receive and post federal tax payments. As an employer, you are required to withhold and pay FICA…

Distributing bonuses to hourly employees is an effective way to motivate and reward them. Unfortunately, many companies are not in a position simply to throw money at an employee every time he…

The Supplemental Security Income (SSI) program is available to low-income individuals age 65 and older or those who are blind or have a disability. The Social Security Administration is responsible…

If you have employees to pay, you have lots of taxes to pay as well. Federal rules require you to deposit the withholding from your staff's paychecks -- income tax, Social Security and Medicaid -- on…

Both the employer and the employee have payroll tax obligations in Kentucky. An employee is supposed to pay state income tax, and in some cases, local income tax, which her employer withholds from her…

An employer in the United States is required to withhold the necessary taxes from employee paychecks; in some cases, employees are required to submit the necessary forms to ensure proper withholding.…

Florida is one of the few states that do not require employees to pay state income tax. However, Florida employers are required to withhold federal income tax, Medicare tax and Social Security tax…

By law, employers must withhold income taxes, Social Security and Medicare taxes, and submit taxes to the Internal Revenue Service on behalf of their workers. These taxes must be paid quarterly, using…

Payroll taxes are the employment taxes that an employer and an employee are required to pay. The Internal Revenue Service administrates the federal withholding laws. State agencies vary by tax and…

The payroll process involves paying employee wages, withholding taxes and other deductions from employee paychecks and paying the employer's payroll taxes. While the employer keeps the taxes from the…

Unlike most states, Florida does not require employees to pay a state income tax. However, Florida employees are subject to federal withholding taxes, which the Internal Revenue Service oversees.…

As an employer in Pennsylvania, the timing of when you submit payroll taxes to the state depends on how often you pay your employees and amount of withholding. You must also withhold federal income…

The Federal Insurance Contributions Act (FICA) was a part of the 1939 Social Security Act that imposed a federal income tax and a payroll tax. The FICA system provides benefits to the elderly and…

Small businesses withhold and pay a variety of payroll taxes based on the amounts of employee paychecks. Some of these taxes are consistent percentages for all employers in all states. Others are…

Employers in the United States must abide by federal employment tax laws, which the Internal Revenue Service administrates. Each state has its own employment tax rules; therefore, state payroll taxes…

Business owners must collect payroll taxes from employees by withholding tax from their paychecks. However, merely collecting the taxes is not enough; the owner must also forward the taxes to the…

It is important that business owners submit their payroll taxes on time. Different employers have different payroll tax deposit due dates, which are based on the total amount of tax liability they…

Employer payroll taxes are the employment taxes the federal and state governments require an employer to pay. The employer pays federal payroll taxes to the Internal Revenue Service and state payroll…

When it comes to running a business, printing the correct tax forms is very important. Printing W2 and 1099 forms straight from your computer is possible and can be done using forms from the IRS or…

Federal payroll taxes are the federally regulated employment taxes that employers and employees are supposed to pay. The Internal Revenue Service has statutory authority to administrate and collect…

The Internal Revenue Service collects the federal unemployment tax, Social Security tax and Medicare tax employers in the United States are supposed to pay. The state unemployment office collects…

It's easy to get behind on federal payroll taxes. The taxes accrue every week, yet you are only required to pay them periodically. Penalties add up fast, making it even more difficult to pay. It's…

The federal, and most state, governments require employees to pay employment tax via tax withholding -- their employers withhold the tax from their paychecks. Payroll taxes include federal income tax,…

Employees who receive wages or salaries are subject to payroll taxes under federal and, if applicable, state law. Federal employee taxes include federal income tax, Medicare tax and Social Security…

Payroll taxes are sums of money paid by an employer on behalf of an employee or withheld from a worker's paycheck in order to pay for estimated taxes and social programs. Voluntary deductions, such as…

Employees pay their share of payroll taxes via paycheck withholding---the employer pays the withheld amounts to the Internal Revenue Service and the respective state agency. The employer pays its…

Payroll taxes are taxes assessed solely on the amount of wages paid or received, with no adjustments or deductions allowed. Employers in the United States pay payroll taxes for Social Security,…

The Internal Revenue Service administers the federal payroll taxes employers and employees must pay; state agencies vary by state and tax. Payroll taxes are used to fund federal and state programs,…

The employer and the employee pay federal payroll taxes. The employee pays it via payroll withholding; the employer makes its own payment. The employer is responsible for remitting employer and…

The United States government imposes two major payroll taxes: Old-Age, Survivors and Disability Insurance (OASDI,) commonly referred to as Social Security, and Hospital Insurance, which supports…

The federal government requires your employer to withhold federal payroll taxes from your paychecks -- the amount varies by tax. The Internal Revenue Service enforces and administrates the withholding…

Federal and many state laws require both employers and employees to pay payroll taxes. The amount depends on the governing agency and the tax itself. The Internal Revenue Service oversees federal…

Employers are responsible for paying payroll taxes to the respective administrating agency and for filing tax returns. Tax-filing rules vary by agency. The Internal Revenue Service enforces federal…

Payroll taxes apply to the employer and the employee. As an employer, you have the dual role of withholding the appropriate taxes from employee paychecks and paying your own share of taxes. The…

The Federal Unemployment Tax Act, or FUTA, requires most employers to pay federal unemployment tax, which is also called unemployment insurance. The State Unemployment Tax Act, or SUTA, requires state…

Employers are supposed to withhold federal income tax, Medicare tax and Social Security tax from employees' income. The Internal Revenue Service, which administrates federal payroll taxes, penalizes…

Federal payroll taxes include federal income tax, Medicare tax, Social Security tax and federal unemployment tax. State payroll taxes vary by state, but generally include state income tax and state…

In an effort to help spur U.S. economic recovery, Congress modified Social Security tax rates for the 2011 tax year. This is the first change in the Social Security retirement tax since 1990.…

Pennsylvania is one of the many states that require employers to withhold state income tax from employees' paychecks. The Pennsylvania Department of Revenue oversees state income tax withholding laws.…

New Jersey employees are required to pay federal and state payroll taxes. The employer deducts federal payroll taxes from employees' paychecks and pays them to the Internal Revenue Services. It…

Federal and state law requires employers and workers to pay payroll taxes. A payroll tax rate is the formula federal or state law requires an employer or worker to use when calculating the respective…

Missouri employers and employees are required to pay federal and state payroll taxes. The Internal Revenue Service administers federal payroll tax laws; the Missouri Department of Revenue oversees…

If you employ workers to perform services for your company, you're required to withhold and deposit payroll taxes with the IRS and your state Department of Revenue. If you fail to pay the tax or file…

U.S. employers are required to adhere to federal and state payroll tax guidelines. The Internal Revenue Service administers the federal payroll tax; state revenue agencies oversee state payroll tax…

All working Americans and all business owners who hire employees are responsible for reporting payroll taxes to the United States Internal Revenue Service. Payroll taxes are the taxes you and your…

If your business owes delinquent payroll taxes and you can't pay the balance in a lump sum, the Internal Revenue Service may grant you an installment agreement to pay the debt. Before requesting an…

The Internal Revenue Service is the agency responsible for administrating, enforcing and collecting federal taxes. Federal payroll withholding taxes include federal income tax, Medicare tax and Social…

If you have a business that has employees, you are required by law to withhold federal income taxes, Social Security taxes and Medicare taxes from your employees' pay and forward them on a timely…

Employers are required by law to deduct certain payroll taxes from employees' paychecks. Federal tax withholding laws apply to all U.S. employers and employees, but state withholding laws vary.…

Payroll tax withholding amounts depend on the type of tax. The Internal Revenue Service regulates the withholding standards for federal income tax. The Federal Insurance Contributions Act is the law…

Employees pay their share of employment taxes via the withholding system, which requires employers to withhold the applicable tax at the respective rate from the employees' paychecks. Employers are…

Accountants accrue payroll taxes at the end of every accounting period. Accrued payroll taxes apply to payroll taxes that the company will pay based on the accrued salaries for the period. Accruing…

Residents in Texas don't pay state income taxes. As a Texas employer, this means you don't withhold state income taxes from your employees; however you must deduct federal income, Social Security and…

Payroll taxes are statutory requirements that the federal and state government mandates. Consequently, employers are legally required to abide by the different policies of the administrating agency.…

The amount of federal taxes taken out of payroll depends on your income and your filing status. When your employees start working for you, they are required to fill out a W-4 form, which instructs you…

Your business accrues payroll tax liability each time you subtract federal payroll withholding from an employee's paycheck. In addition to the taxes you withhold, you also accrue your employer's…

The Internal Revenue Service offers a free service that accepts regular payroll tax deposits electronically or by phone. The Electronic Federal Tax Payment System also allows businesses to schedule…

Employers with W-2 employees must comply with federal payroll tax rules. They must regularly deposit amounts withheld from workers and file quarterly returns to reconcile deposits and wages paid.…

When an employee is paid, employers must withhold taxes from the pay and turn the money over to the Internal Revenue Service. Some employers do not pay the taxes and failing to do so is a criminal…

Each employer is required to perform payroll tasks, which include complying with payroll tax requirements. The Internal Revenue Service enforces the federal payroll tax standards that employers must…

The Internal Revenue Service has statutory authority to administer federal tax laws in the U.S. This includes enforcing and collecting federal payroll taxes. Employers are required to withhold federal…

Payroll tax requirements exist on a federal and state level; the criteria often change from year to year. On occasion, city and local payroll taxes apply. The Internal Revenue Service administers…

Unemployment saps the morale of a nation. It's stressful for workers losing high-paying jobs, and it's difficult for policymakers dealing simultaneously with lower tax revenues and higher social…

What would happen if a company's personnel finds out that their paystubs indicate inaccurate amounts? Employees would likely complain, and U.S. Department of Labor regulators may levy hefty fines…

The Internal Revenue Service requires employers to withhold Medicare tax, Social Security tax and federal income tax from employees' wages. It requires the employer to pay its portion of Social…

Lack of understanding local, state and federal tax withholding laws is a key reason that employers and employees encounter payroll tax issues. It is the employee's responsibility to inform employers…

The state of Ohio does not require Ohio employers to give employees a pay stub. Still, the employer can provide a pay stub if it wants to. Without a pay stub or a wage statement, it can be difficult…

An employer has financial responsibilities when it comes to state payroll taxes, just as it does with federal payroll taxes. State payroll taxes vary from state to state, but a few general guidelines…

Employers make deductions from employees' wages either on a statutory or voluntary basis. A voluntary deduction is one that the employer offers and the employee accepts. A statutory deduction is one…

Statutory deductions are those the employer is legally required to make from employees' wages, such as payroll taxes, and if applicable, wage garnishments and child support. Deductions can also be…

Social Security tax is a type of payroll tax that employers are required to withhold from employees' wages. The employer is also responsible for paying its own portion of Social Security tax. The…

The Internal Revenue Service is the statutory agency that administrates federal employment taxes. The employer is responsible for withholding payroll taxes from employees' paychecks, and for paying…

The federal government and most state governments require employers to withhold certain payroll taxes from employees' incomes. The tax calculation method depends on the governing agency's regulations.…

All employers are required by law to withhold estimated income taxes and Social Security taxes from their employees' pay and forward them to the Internal Revenue Service, along with the employer's…

Arizona is one of the many states that charge a state income tax to employees. Arizona employers are required to withhold the tax from employees' wages. The state has a distinctive withholding…

The Arizona Department of Revenue requires Arizona employers to withhold state income tax from employees' paychecks. Arizona's Department of Economic Security requires the employer alone to pay state…

Oklahoma employers are required to withhold federal income tax, Social Security tax and Medicare tax from Oklahoma employees' paychecks. The employer pays federal payroll withholding to the Internal…

Texas is one of the few states that does not charge employees a state income tax (though Texas employees must still pay federal income taxes, Social Security taxes, and Medicare tax withholdings).…

The federal government requires employees to pay their fair share of payroll taxes, including federal income tax, Social Security tax and Medicare tax. The state of Texas is one of the few states that…

A salaried employee typically receives the same amount of wages each payday. An hourly employee's pay may fluctuate, since he's paid according to hours worked. Regardless of your pay group, a pay…

The Internal Revenue Service is the federal institution that administrates and enforces federal payroll tax laws. Employers are required to withhold federal income tax from employees' wages. Social…

Payroll tax deductions are taxes that the employer is legally required to deduct from employees' income. These taxes occur on a federal and state level. The Internal Revenue Service requires employers…

The Internal Revenue Service is the federal organization that administrates federal payroll taxes. Each state has its own revenue agency that regulates state payroll taxes. Michigan's Department of…

Payroll taxes are a diverse and complex subject; the laws are ever-changing. The regulations for these taxes are issued on a federal or state level. In some cases, city or local laws may apply. The…

In the United States, the Internal Revenue Service (IRS) requires that employers file a quarterly payroll tax return, Form 941. Form 941 reports the base wages, tips and other compensation for a…

The federal and state government requires all employers to withhold payroll taxes from employees' income. The Internal Revenue Service administrates federal payroll taxes, including federal income…

Payroll taxes are statutory (mandatory) deductions that employers are required by law to withhold from employees' paychecks. The Internal Revenue Service handles federal payroll taxes administration;…

As an employer, there are many taxes you need to pay to the state and federal governments regarding each one of your employees. Payroll taxes are the taxes that you as an employer withhold from your…

The Internal Revenue Service (IRS) administers the federal payroll tax laws. The state taxation (revenue) agency administers state payroll tax laws. Both the federal and the state taxation agencies…

When there is an ever increasing need for more money in the paycheck, thoughts turn to ways to increase the number in the all-important 'Net Pay' box on your paycheck. If a raise is out of the…

Employers are responsible for accurate calculation and payment of payroll taxes. An employer withholds an employee's federal income tax from compensation. Pay received by an employee is further…

Employers are often required by law to withhold federal income tax, Medicare tax and Social Security tax from employees’ payroll checks. Additionally, all states require state income tax…

Businesses with employees are required by the federal government to withhold federal income, Social Security and Medicare taxes from each employee’s paycheck. Businesses must also contribute or…

Payroll taxes, also known as FICA (Federal Insurance Contributions Act) taxes, are made up of the Social Security tax and the Medicare tax. Payroll taxes are imposed on earned income, which includes…

Part of running a successful business is knowing when you should take care of something yourself and when you should outsource it to a professional. Very few business owners complete their own taxes,…

You can pay your Federal payroll taxes online using the U.S. Department of Treasury Electronic Federal Tax Payment System (EFTPS) secure government website. The free service is available to business…

The payroll tax cap references an element of the Federal Insurance Contributions Act (FICA) tax. This is a tax imposed on all U.S. employees and their employers to fund Social Security and Medicare.…

Payroll taxes are taxes paid by the employee and employer before the employee gets his paycheck. As opposed to income tax, there is no choice as to whether they are paid with each check or at the end…

The United States federal tax system is not built to be easy---in fact, calculating your yearly taxes is anything but simple. If you think that calculating your yearly taxes is difficult, imagine how…

Employers must file Form 941, Employer's Quarterly Federal Tax Return, for each calendar quarter with the Internal Revenue Service. The filing deadline is the last day of the month following the end…

If you are an employer in California, you may be confused about how much in taxes should be withheld from an employee's paycheck. Although there are books and other resources available on the topic,…

An employer must know when to deposit payroll taxes to avoid costly penalties. The due date for submitting payroll taxes is determined at the beginning of each calendar year.

The Internal Revenue Service (IRS) requires that businesses make payroll tax deposits throughout the year. Failure to make deposits on the appropriate schedule can result in fees, penalties or…

Hiring employees is a big step in growing a business. One of the first steps is to be sure you have your Federal Employer's Identification Number (FEIN) on file. It will be required for reporting all…

According to the Tax Policy Center, payroll taxes were responsible for about $870 billion of federal revenue in 2007. Employers are responsible for withholding an employee's portion of payroll taxes…

Employees by law must pay certain payroll taxes. Your employer is responsible for withholding these taxes and for remitting them to the government. These taxes include Social Security and Medicare…

The federal and state governments regulate payroll taxes. Federal payroll taxes are Social Security, Medicare, unemployment and income withholding. State payroll taxes include unemployment, disability…

Payroll taxes can be difficult to calculate. To compute them appropriately, you must know which ones apply and the rates associated with each one. The amount of federal income tax an employee pays…

QuickBooks has a separate process to pay payroll and sales tax liabilities. While vendors and credit cards can be prepaid using the "Write Checks" function, payroll requires that all payments occur…

An employee's check stub should state his gross and net pay, plus various taxes withheld such as Federal, State and Medicare. In addition, an employee may notice the abbreviations OASDI reflected on…

Psychologically, it seems as if all money taken out of a person's paycheck is the same, but income and payroll taxes serve very different functions, with contrasting effects.

The penalty for not withholding federal payroll taxes is 100 percent of the tax owed plus related interest. While this may seem harsh, keep in mind the taxes withheld go toward ensuring that employees…

If the employer has in-house payroll integrated into the accounting system, only adjusting journal entries are used to record accrued payroll liabilities. For outsourced payroll, employers record the…

Calculating payroll taxes for a nonprofit organization is consistent with payroll tax calculations for profit organizations. The IRS states, "If a tax-exempt organization (EO) has employees, the EO is…

Employers are required to withhold and pay their employees' taxes to the government. Further, employers must pay their own portion of payroll taxes, which are also referred to as company payroll…

To deposit payroll taxes by EFT you must use the Electronic Federal Tax Payment System, or EFTPS. You may voluntarily deposit via EFTPS but are required to do so if your total deposits for the second…

To calculate federal income tax using a percentage, you need the current withholding tables found in IRS Publication 15-T. The IRS updates these tables any time there is a change in tax rates, be…

A critical part of payroll is payroll taxes. The employer is responsible for withholding all payroll tax from his employees' paychecks. Failure to withhold these taxes results in fines from the…

For employees in California, in addition to calculating federal withholding taxes, you must withhold California personal income tax (PIT) and state disability insurance (SDI). Calculate PIT…

Employees working in the United States are subject to withholding for federal income tax (FIT), federal social security and Medicare taxes and state income taxes (SIT). Employers must match the…

Figuring payroll taxes isn't difficult, but it can be complicated because there are a minimum of seven different taxes to consider---and even more when you factor in state and local income taxes. You…

Payroll taxes are the common name for any withholdings that a company takes out of an employee's paycheck and gives to the government. Often times, companies must pay a reciprocal amount that they…

The Internal Revenue Service as well as many state and local governments require businesses to withhold payroll taxes from employee wages. For the most part, calculating each tax isn't difficult. The…

Form 941 is a form issued by the Internal Revenue Service for reporting an employer's quarterly taxes. If you are a business that withholds federal, Medicare and Social Security from payroll, you are…

Payroll tax liability is the tax liability that arises from an employer and employee relationship. Several different types of taxes arise under U.S. law. Part of these taxes must be deducted from the…

Medicare tax withheld is part of the payroll tax contribution that goes toward funding the federal organization that makes it possible for workers to receive Medicare benefits upon reaching a certain…

A payroll tax holiday is a suggestion from economists that the United States temporarily lift the Federal Insurance Contributions Act Tax from workplaces.

Your employer might issue you a bonus check during specific times of the year. Sounds great, right? It can be, but taxes are handled differently depending on your specific situation. Know all the…

When a company hires a person for the job, the first thing they must do is fill out the paperwork. This is the law in every state. One of the pieces of paperwork is the W2 form, which tells the…

A payroll-tax expense is a tax paid on payroll, either by the employer or the employee. Payroll-tax expenses add a significant amount to employer payroll beyond simple employee pay, and also usually…

If you recently started a 401k at work and want to know how much it will change your taxes, you can calculate the payroll taxes with the 401k quite simply. First, your deductions include Social…

Businesses and other organizations with paid employees are required to file payroll tax returns, withhold and deposit payroll taxes into a tax account and pay payroll taxes to the IRS. If these…

Payroll tax deductions are levied on nearly all working people in the United States. Known as the Federal Insurance Contributions Act, this law provides for part of the income to fund certain federal…

When you own a business, one of the accounting tasks you have is to determine your federal payroll taxes. These fall into two categories. Some federal payroll taxes are paid by the employee and are…

Each week when the paychecks are handed out at thousands of businesses across the country, taxes have already been deducted. Employers also pay taxes on wages that the worker doesn't see. If you are…

When you make out the payroll checks, there are some deductions that the employee gets before you take out taxes. You may be required to tax the employee first and then deduct the amount. You need to…

When you get paid you don't get all the money your employer "owes" you. If you look at your paycheck stub, you'll see that payroll taxes have been deducted. There are also other payroll taxes that…

Starting a payroll and tax service business can prove to be a rewarding venture. Many companies now outsource all of their payroll and tax needs to an independent service to cut costs and avoid…