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Q. I’m a new employer and have started withholding taxes from my workers checks. Where do I put the money? A. Definitely don’t put it under your mattress! Publication 15 from the IRS is what I like to call the Employer’s Tax Bible. Every employer whether new or seasoned should look through that document each [...]
Q. Where do I send FICA, Medicare, taxes? A. If you are an employer, FICA, Medicare and Federal withholding taxes should be deposited according to the schedule assigned by the IRS to your company. Very small employers can deposit and report these withholding amounts on Form 944 annually. The other deposit requirements are Monthly, Semi-weekly [...]
