Definition
Payroll tax refers to taxes withheld from employees' wages by employers to fund government programs such as Social Security, Medicare, and unemployment insurance.
Related Services
Tax consulting, payroll services, and HR outsourcing help businesses calculate, withhold, and remit payroll taxes accurately.
Problem and Application
Incorrect payroll tax calculations can result in penalties, making it important for businesses to stay compliant with federal, state, and local tax laws.
Conclusion
Proper payroll tax management is essential to avoid legal complications and ensure that taxes are remitted correctly for government programs.
