Tax Analysts provides news, analysis, and commentary on discussion and understanding of employment income taxes. Employers are generally required to withhold federal income taxes from employees’ wages, along with employer and employee contributions for Social Security and Medicare. The tax rate and wage base for some employment taxes, such as Social Security, fluctuate year-to-year.
Employers calculate the proper employment tax withholding using an employee’s Form W-4, “Employee’s Withholding Allowance Certificate,” and withholding tables provided by the IRS in Publication 15 (Circular E), Employer’s Tax Guide and Publication 15-A, Employer’s Supplemental Tax Guide.
Employers are required to remit employment taxes withheld every quarter by using electronic funds transfer through the Electronic Federal Tax Payment System. Certain employers may report and pay employment tax withholding to the IRS without incurring a penalty by using Form 941, “Employer’s Quarterly Federal Tax Return,” and Form 944, “Employer’s Annual Federal Tax Return.”
In addition to employment tax news, analysis, and commentary, Tax Analysts also provides up-to-date statutes, regulations, and IRS guidance that are relevant to employment taxes that provide invaluable resources to employers and employees on employment tax issues.
Tax Analysts frequently publishes stories on employment tax issues, including fringe benefits, unemployment compensation, tips, additional Medicare tax, net investment income tax, self-employment tax, and worker classification. Additionally, Tax Analysts provides in-depth coverage on important employment tax cases from the Supreme Court, federal courts, and the Tax Court.