Payroll Taxes Definition

Payroll taxes are paid by employers to the federal government.

Payroll Taxes Extended Definition
Payroll taxes include the portion of funds held out of the employee’s wages for Medicare, Social Security and federal withholding. Employers also match a certain percentage of Medicare and Social Security taxes for each employee. Payroll taxes are usually paid on a quarterly basis.

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Last Updated By

Jenna Hutkowski | Apr 28, 2023