Payroll taxes are a critical component of running a business. These include federal income tax withholdings, Social Security and Medicare taxes (FICA), and federal unemployment taxes (FUTA). When businesses fail to properly collect or remit these taxes to the IRS, the consequences can be severe. Unpaid payroll taxes don’t just lead to financial penalties—they can trigger audits, legal action, and even personal liability. What Are Payroll Taxes? Payroll taxes are… Read More
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