Payroll Tax Returns

Payroll tax returns are documents that employers file to report the wages they’ve paid to employees and the taxes withheld from those wages, such as Social Security and Medicare taxes, along with federal and state income taxes. These returns ensure compliance with tax laws and help determine the amounts due to the government. Typically filed quarterly or annually, payroll tax returns track the employer's liability and are crucial for maintaining accurate financial records and fulfilling legal obligations. Failure to file or incorrect reporting can result in penalties for the employer.