Lines 12-14 take your total taxes and subtract any payments you've already made to come up with your total balance due.

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If you have a total balance due (i.e., line 14 contains a positive number), use this voucher to pay any taxes you owe to the IRS.

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Comments Off on Payroll Tax 101: A Comprehensive Guide to Understanding Taxes for Employers

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Payroll Tax 101: A Comprehensive Guide to Understanding Taxes for Employers

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Have your tax and payroll records on hand, and informationabout taxable tips your employees collected this quarter (here's the IRS's guide to tip record keeping).

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You use Form 941 quarterly to report these taxes on your payroll filing.

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Payroll taxes: Dazzling facts and details you need to know about tax, payroll tax filing, quarterly returns and form 941.

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Payroll Taxes-What You Should Know
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