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-   -   Question for Tom Copeland...Employer Taxes (https://www.daycare.com/forum/showthread.php?t=67175)

frugalmama4 12-08-2013 08:40 AM

Question for Tom Copeland...Employer Taxes
 
Hello Tom,

Hope you enjoyed your weekend!

Question: What happens if I don't pay ALL the payroll taxes owed by the end of Dec 2013; before I file my tax return. Will I get a bill after I file or will it come out of any refund I should get??

* I'm set up as a sole proprietorship with one employee and owe about $700.00 in payroll taxes.


Thanks!

TomCopeland 12-09-2013 02:03 PM

Quote:

Originally Posted by frugalmama4 (Post 415510)
Hello Tom,

Hope you enjoyed your weekend!

Question: What happens if I don't pay ALL the payroll taxes owed by the end of Dec 2013; before I file my tax return. Will I get a bill after I file or will it come out of any refund I should get??

* I'm set up as a sole proprietorship with one employee and owe about $700.00 in payroll taxes.


Thanks!

Payroll taxes are due on different dates. The last quarter of Social Security/Medicare taxes are due January 10th. The last quarter of federal unemployment taxes are due January 31st (Form 940). If you don't make these deadlines you will owe penalties. I'm not sure if these taxes will be taken out of your refund.

frugalmama4 12-09-2013 03:50 PM

Quote:

Originally Posted by TomCopeland (Post 415974)
Payroll taxes are due on different dates. The last quarter of Social Security/Medicare taxes are due January 10th. The last quarter of federal unemployment taxes are due January 31st (Form 940). If you don't make these deadlines you will owe penalties. I'm not sure if these taxes will be taken out of your refund.

Thanks Tom!


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