By Jean Murray. US Business Law / Taxes Expert
Jean Murray has the education and experience to help you become an expert in your small business, and to provide you with information about business legal and tax issues. With an MBA and a PhD in entrepreneurship, she brings almost 30 years of experience and knowledge to these important business subjects.
You can also read more about Jean's current and past work on her About.me page.
DISCLAIMER: I am not a CPA or attorney, and nothing on this site in articles, emails, blog posts, or other communications is intended to be tax or legal advice. The purpose of this site is to provide general information to readers. No claim is made regarding the accuracy or legal status of
information on this site. Federal, state, and local laws and regulations change, and every business situation is unique. Readers should not take action on any tax or legal matter without reviewing options with a tax advisor or attorney.
Making Federal Payroll Tax Deposits
Beginning January 1, 2011, the IRS is requiring that all payroll tax deposits be made electronically, using the Employer Federal Tax Payment System (EFTPS) .
What are payroll taxes?
First, let's define what is meant by "payroll taxes." They are the taxes you must pay on your payroll:
- Those federal income taxes you withheld from your employees' paychecks,
- The Social Security/Medicare taxes you withheld from employees and the matching amount you set aside from that payroll, and