Employer Quarterly Payroll Reports Due

This is a friendly reminder that 3rd Quarter 2013 Payroll Reports are due October 31, 2013. Federal law requires employers to withhold taxes from their employees' wages and tips for federal income tax, social security tax, and Medicare. Taxes withheld from your employees are credited toward the future payment of their tax liabilities.

Federal law also requires you to pay toward the employer's portion of social security and Medicare taxes. This portion of social security and Medicare taxes is not withheld from your employees.

File your first Form 941 for the quarter in which you first paid wages that are subject to social security and Medicare taxes, or subject to federal income tax withholding. After you file your first Federal Form 941, you must file a return every quarter (every 3 months), even if you have no taxes to report. There are a few exceptions to this rule, such as special rules for some employers and for seasonal employees.

Your Quarterly Payroll Report is due by the last day of the month that follows the end of the quarter. For example, for the quarter of January, February, and March, the report is due on April 30. The report due this week is for the quarter of July, August, and September. If you are unsure whether you should file a quarterly report, or if you need help with your reports or any type of bookkeeping, please give us a call. We would love to assist you!