There's federal income tax and the two FICA taxes: Social Security and Medicare. IRS rules governing each tax are different, so you end up calculating income tax withholding separately from FICA ...

Of your many responsibilities as a small business owner, ensuring that your employees’ pay is calculated accurately rank ...

or tax credits, you may claim additional withholding allowances. To set the number of allowances, complete the computation on IRS Form W-4 and submit it to DFAS or your services pay center.

An employer, regardless of the number of workers they employ, must maintain all records pertaining to payroll taxes (income tax withholding, Social Security and federal unemployment tax ...

Lea Uradu, J.D., is a Maryland state registered tax preparer ... to backup withholding are interest payments, dividends, and rents. Retirement benefits and unemployment compensation are exempt ...