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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 13119
Experience:  15years with H & R Block. Divisional leader, Instructor
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I don't think I have been paying social security taxes on

Customer Question

I don't think I have been paying social security taxes on employee's for 2016 but I am not sure. is this done on-line or do i have to do this physically on paper and if so, what forms would i use?
Submitted: 6 months ago.
Category: Tax
Expert:  Robin D. replied 6 months ago.
HelloPayroll deposits and reporting are very serious.There are two deposit schedules, monthly and semi-weekly.Before the beginning of each calendar year, you must determine which of the two deposit schedules you are required to use. To determine your payment schedule, review Publication 15 for Forms 941, 944 and 945, or Publication 51 for Form 943.If you fail to make a timely deposit, you may be subject to a failure-to-deposit penalty of up to 15 percent.Deposits for FUTA Tax (Form 940) are required for the quarter within which the tax due exceeds $500. The tax must be deposited by the end of the month following the end of the quarter.You must use electronic funds transfer (EFTPS) to make all federal tax deposits.Here is a link to due dates