IRS Circular E

IRS Circular E, also known as Publication 15, provides essential guidelines for employers on how to handle payroll taxes and employee wages. It outlines the responsibilities for withholding federal income tax, Social Security tax, and Medicare tax from employees' paychecks. Additionally, it specifies the deadlines for depositing these taxes and reporting them to the IRS. Circular E is an important resource to ensure compliance with tax regulations, helping employers correctly calculate and remit payroll taxes while keeping accurate records for their employees.