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EMPLOYER ANNUAL REPORT TO EMPLOYEES OF EMPLOYER ANNUAL REPORT TO EMPLOYEES OF TAXES WITHHELDTAXES WITHHELD

Lesson 14-3, page 349Lesson 14-3, page 349

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EMPLOYER’S QUARTERLY FEDERAL TAX RETURNEMPLOYER’S QUARTERLY FEDERAL TAX RETURN

Lesson 14-3, page 348Lesson 14-3, page 348

5

1

4

2

3. Total Quarterly Earnings

1. Heading

4. Income Tax Withheld

2. Number of Employees

5. Employee and Employer Social Security and Medicare Taxes

6. Social Security plus Medicare Taxes

7. Total Taxes

8. Total Taxes for Each Month

9. Total Taxes

6

9

7

8

3

3

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PREPARING EMPLOYER’S QUARTERLY FEDERAL PREPARING EMPLOYER’S QUARTERLY FEDERAL TAX RETURNTAX RETURN

Lesson 14-3, page 351Lesson 14-3, page 351

Total Earnings Tax Rate = Tax

Social Security $22,575.00 13% = $2,934.75Medicare $22,575.00 3% = $ 677.25

Employee EmployerSocial Social

Federal Income Security and Security and Federal TaxTax Withheld + Medicare Tax + Medicare Tax = Liability

Calculate Social Security and Medicare Taxes

Calculate Social Security and Medicare Taxes

Dec. 1-15 $273.00 + $304.33 + $304.33 = 881.66Dec. 16-31 $269.00 + 302.08 + $302.08 = $873.16Totals $542.00 + 606.41 + 606.41 = $1,754.82

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EMPLOYER ANNUAL REPORTING OF PAYROLL EMPLOYER ANNUAL REPORTING OF PAYROLL TAXESTAXES

Lesson 14-3, page 352Lesson 14-3, page 352