Understanding Employment Taxes Understand the various types of taxes you need to deposit and report such as, federal income tax, social security and Medicare taxes and Federal Unemployment (FUTA) Tax.

Depositing and Reporting Employment Taxes You must deposit federal income tax withheld and both the employer and employee social security and Medicare taxes.

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You also must report on the taxes you deposit, as well as report wages, tips and other compensation paid to an employee.

Employment Tax Due Dates You must deposit and report your employment taxes on time.

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