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Quarterly Payroll Taxes: what you need to know

Oct 4, 2023 | Uncategorized

Quarterly payroll taxes are a type of tax that employers are required to pay to the government on a quarterly basis. These taxes are used to cover Social Security, Medicare, and federal income tax withholdings for employees. Quarterly payroll taxes are due four times per year on the following dates: April 30th, July 31st, October 31st, and January 31st.

If you are an employer who has employees, you are generally required to pay these taxes. The amount of tax you are required to pay will depend on a number of factors, including the amount of wages paid to your employees and the tax rates that apply to those wages.

Failing to pay payroll taxes can result in serious consequences, including penalties and interest charges. If you are unsure about your obligations with respect to payroll taxes, you may want to consult with a tax professional, accountant, or payroll analyst who can provide guidance and advice. If you have questions or need help navigating quarterly payroll taxes, our payroll analysts at Grant Payroll are here to help!

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