With an automated payroll system, the software has the tax rates hard-coded in the system. It calculates the withholding tax for each employee based on the withholding conditions data input.

Payroll systems do not simply record work hours and pay. They must be set up for more complex operations, such as deductions for tax and benefits purposes.

“Any employer who is required to submit federal payroll taxes — including income taxes, Social Security and Medicare taxes — must register for the Electronic Federal Tax Payment System ...

The Presidential Memorandum for Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster deferred the collection of payroll tax, specifically the 6.2% Social Security payroll ...

It’s clear enough that if the payroll tax is ended (whether only the employee’s half or also the employer’s share), the Trust Fund (or Funds, plural, as this impacts not only Social Security ...

These methods include deploying payroll software in-house, moving to a Web-based system that lets employees enter much of their own data, or outsourcing the function to a third-party. Payroll Software ...

3 payroll tax considerations for small businesses. If you want to alleviate the headache that comes with payroll and payroll taxes for 2022, there are a few areas to consider.

While the tax holiday could be a short-term boost to the economy, businesses and workers, it provides no help to the over 27 million Americans who are unemployed and have no payroll taxes to withhold.

Employers that administer their own systems have a lot of work ahead of them. ... It’s still too early to tell how many private sector employers will choose to implement the payroll tax deferral.

September kicks off the payroll tax deferral period initiated by President Trump last month, but few businesses are expected to participate in a plan that would likely lead to less take-home pay fo… ...