Answering 5 FAQs about IRS Payroll Tax Payment
  • June 8, 2018
  • admin
  • 0

The IRS may seem tough on collecting income taxes, but they are even tougher when it comes to payroll taxes. Payroll taxes the money withheld from employees’ wages, and the employer is required to pay it to the IRS. The money is a trust fund belonging to the federal government, and no matter how good a reason you have for using it for something else, the IRS will hold you liable for non-compliance. If you, like many others, have any doubts about the process of paying payroll taxes, we can clear up any confusion by answering five FAQs.

1. What are the employer’s responsibilities for payroll taxes?

As an employer, it is your responsibility to:

  • Collect appropriate payroll tax documents from employees.
  • Calculate payroll taxes and withhold them from employees’ remunerations.
  • Pay payroll taxes to the IRS and other taxing authorities within the stipulated timelines.
  • File payroll tax reports in a timely manner.

2. What does the payroll tax deductions include?

The payroll tax deductions include Federal income tax, Social security taxes, and Medicare tax withholding. Other inclusions include Unemployment tax that can be substantial, depending on the company’s layoff history. A portion of the unemployment tax is paid to the state government, and a smaller amount to the federal government.

3. How do I calculate payroll taxes?

To calculate payroll taxes, you need to know the current Social Security, Federal Unemployment, and Medicare tax rate for employees. You can leverage many online tax calculators for ease and convenience, or consult an IRS tax attorney.

4. How to pay payroll taxes?

The IRS requires all payroll tax deposits to be made electronically, using the EFTPS Online System. You do not need to make the deposits using a deposit coupon. Simply go to the EFTPS website, register, and then use the website to pay the taxes. The payroll tax amount will be deducted from your business’ bank account.

5. What are the penalties for unpaid payroll taxes?

Penalties for unpaid payroll taxes vary depending on charges against the defendant. The penalties include late fee that keeps increasing with further delay in payment. In extreme cases, the IRS may levy jail time of up to 5 years to owners, check signers, and other individuals responsible for non-payment.

Need Help with Payroll Taxes? Contact Us, Today!

If you are facing problems with IRS Payroll Tax Payment or do not completely understand the process of paying payroll taxes, our experienced IRS tax attorneys can help. We, at Law Offices of Nick Nemeth, are committed to helping our clients overcome IRS payroll tax issues. Our IRS tax attorneys have years of experience, and are ideally equipped to tackle even the most complex payroll tax problems. For a no-obligation consultation on IRS payroll tax problems, simply call (972) 426-2553 or fill out a contact form and we will take it from there.

Please follow and like us:

What Our Clients Have to Say

Susan WilsonSusan Wilson
03:27 25 Jan 23
I have been very pleased with the solid counsel and guidance that Nick Nemeth has provided me regarding my tax issue. I found him to be honest and straightforward which I appreciated. I was impressed with his relevant experience and knowledge . He has definitely brought me peace of mind during a difficult and stressful time.
Sarah HowardSarah Howard
03:44 14 Nov 22
I would like to thank Mr. Nick and his staff for the superb help that I received from them. My IRS problem was resolved quickly and efficiently. It took 2 visits to convince me that I was over my head. I thought that I could call the IRS, appeal my tax notices and settle on a payment plan on my own. After many phone calls to the IRS, waiting sometimes more than 4 hours with no resolution to speak of, it proved to be extremely difficult and stressful. Revisiting Mr. Nick was a huge wake up call. My account was reviewed, and a payment plan was established with the IRS within a week. I will be forever grateful to the staff who worked on my case and especially to Lorna who listened to me vent while going through this painful process.
00:33 07 Aug 22
I cannot say enough good things about Nick and his team. When I first met with Nick he was up front, honest, friendly and efficient. When I worked with one of his attorneys, Eric B, I was just as pleased. All of the staff there are nice and very helpful. I wish I hadn't waited so long to get help with my issue. Over 6yrs I tried getting through and getting anywhere with the IRS and hardly made any progress. I know this may not be the case for all, and even I thought it would take longer than it did, but 3mos and they had my situation straightened out. I still can't believe it. Thank you thank you THANK YOU for all that you did for me. This is a huge burden gone out of my life now thanks to you. If anyone needs help out there, I know you may not want to shell out more money to get their help but it may just save you in the long run.
Spoilly GirlSpoilly Girl
23:49 03 Aug 22
The Nemeth Law team is exceptional. They treat their clients like a family member who is in crisis. They want you to get the best possible outcome. I really appreciate everything that they did for me. Jake and Ashley had the greatest role in my case and it all turned out for the best for me. Thank you Nick and team for easing my fears and getting me through the long process. I'm truly grateful.
Eddie WaltEddie Walt
19:44 12 Jul 22
During a time in which competent, professional service at a fair price seems to have disappeared, Mr. Nemeth and his team are a refreshing breath of fresh air.From my first phone call to the final settlement of our case with a non-responsive IRS, they under-promised, over-delivered and were in constant courteous contact to make sure we knew exactly what was happening and where we stood.I hope to never need their services again, but, should I receive another friendly letter from the IRS...I know who to call!
Quick Inquiry


    Enter the text you see above