According to the IRS, payroll taxes, in their most concise definition, will work this way:
- Employers withhold payroll taxes and income tax from employees' pay.
- Employers send the amounts withheld to the federal government.
- Employees complete Form W-4.
- Employers use Form W-4 to determine how much income tax to withhold from employee pay.
Simple, right? But only if you’re an IPS client!
So here are some useful resource and links for the do-it-yourselfers:
The IRS introductory payroll tax presentation available here:
The IRS Tax Glossary of Terms: http://www.irs.gov/app/understandingTaxes/teacher/glossary.jsp
The full set of IRS Employment Tax Regulations are here:
You are welcome to read and become expert at the rules and regulations directly, or you can just rely on IPS to handle all your payroll and compliance requirements!
Here are some frequently requested IRS Forms:
Here are some frequently visited Tax Information Websites:
Internal Revenue Service
Social Security Administration
New Jersey Department of Labor and Workforce Development:
Pennsylvania Department of Labor and Industry:
Delaware Department of Labor:
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Login to HR Support Center: http://ipspayroll.myhrsupportcenter.com
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