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This lesson covers essential aspects of employer tax reporting, including the annual report to employees detailing taxes withheld and the quarterly federal tax return submissions. Topics include total quarterly earnings, income tax withholding, and the calculation of Social Security and Medicare taxes for both employees and employers. Understanding these requirements is crucial for compliance and accurate payroll management in any business. Ensure you are informed about your responsibilities regarding payroll taxes and reporting.
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LESSON 13-3 Reporting Withholding And Payroll Taxes
EMPLOYER ANNUAL REPORT TO EMPLOYEES OF TAXES WITHHELD page 378 LESSON 13-3
EMPLOYER’S QUARTERLY FEDERAL TAX RETURN page 379 (continued on next slide) 1 2 1. Heading 2. Number of employees LESSON 13-3
3 4 5 6 7 EMPLOYER’S QUARTERLY FEDERAL TAX RETURN page 379 (continued on next slide) 3. Total quarterly earnings 6. Social security plus Medicare taxes 4. Income tax withheld 5. Employee and employer social security and Medicare taxes 7. Total taxes LESSON 13-3
8 8 8 EMPLOYER’S QUARTERLY FEDERAL TAX RETURN page 379 (continued from previous slide) 9 8. Total taxes for each month 9. Total taxes LESSON 13-3
EMPLOYER ANNUAL REPORTING OF PAYROLL TAXES page 381 LESSON 13-3