By: Frank Gargano Dec 08, 2020

Payroll Tax Filings and Payments

Fingercheck’s All-in-One HR Platform package takes care of federal and state tax filings and payments for you, making processing payroll that much easier! Once we fill out the forms and process them with the correct agencies, you can download and print the completed documents by going to the “Payroll” tab and clicking on “Forms and Notices”.

Federal payroll tax forms

Below is a breakdown of all the federal tax forms that Fingercheck currently handles according to which agency we file them with:

Internal Revenue Service

-IRS Annual

  • Form 940: Employer’s Annual Federal Unemployment (FUTA) Tax Return
  • Form 940-X: Amended Employer’s Annual Federal Unemployment (FUTA) Tax Return
  • Form 1099-MISC (Contractors Only): Miscellaneous Income

-IRS Quarterly

  • Form 941: Employer’s Quarterly Federal Tax Return
  • Form 941-X: Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund

Social Security Administration

-SSA Annual

  • Form W2: Wage and Tax Statement
  • Form W2-C: Corrected Wage and Tax Statements
  • Form W3: Transmittal of Wage and Tax Statements
  • Form W3-C: Transmittal of Corrected Wage and Tax Statements

Quarterly tax filings are due to the agencies on the last calendar day of the month following the end of the quarter. We at Fingercheck close out the quarter on the dates listed below due to the amount of time needed to have your documents in order. Any additional changes can be filed for up to seven business days afterward for an additional fee.

  • First Quarter (Q1): Due March 31st, for the period of January 1st to March 31st.
  • Second Quarter (Q2): Due June 30th, for the period of April 1st to June 30th.
  • Third Quarter (Q3): Due September 30th, for the period of July 1st to September 30th.
  • Fourth Quarter (Q4): Due December 31st, for the period of October 1st to December 31st.

Annual tax filings are due by January 31st for the calendar year that just concluded.

Payroll taxes and payments

Whenever a payroll run is being processed, Fingercheck uses custom calculations based on employee tax information to determine the precise amount of federal and state taxes to be withheld. The final amount is then debited from your account and used to pay the taxes for your business. Exact tax amounts due for a payroll run can be found in the “Payroll” tab under the section titled “Previous Payroll”, as well as on the final step of processing payroll.

Currently, there are three types of federal payroll taxes:

-Federal income tax withholding

  • This tax is paid by the employee and is determined by both their total wages and the allowances that they reported on their Form W-4.

-Social Security and Medicare tax (FICA)

  • Federal Insurance Contributions Act (FICA) taxes, which include Social Security (6.2%) and Medicare (1.45%), are contributed to by both the employer and the employee. When concerning FICA taxes, you as an employer are required to match what your employees pay.

-Federal Unemployment (FUTA)

Federal Unemployment Tax Act (FUTA) is taxed at a rate of 6% and is taken out of the first $7,000 that an employee earns in wages each year. You as an employer must contribute the amount in full for FUTA taxes as this tax is not withheld from an employee’s pay.

State payroll tax forms

FingerCheck takes care of filing payroll taxes to agencies at the state level as well as at the federal! Below is a list of all the states that we handle tax filings and payments for. For more information on each state, click on the region headings to learn more:

Map of the United States

North East Connecticut
Delaware
Maryland
Massachusetts
New Hampshire
New Jersey
New York
Pennsylvania
Rhode Island

 

Southeast Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia

 

Midwest Illinois
Indiana
Kansas
Michigan
Minnesota
Missouri
Nebraska
Ohio
Wisconsin

 

Southwest Arizona
New Mexico
Oklahoma
Texas

 

West California
Colorado
Idaho
Nevada
Oregon
Utah
Washington

 

Category: Payroll | Tax

Frank was born and raised on Long Island, and currently holds a degree in Journalism from the School of Journalism at Stony Brook University. Previously, he has covered topics from community banking mergers and acquisitions for American Banker, to local news and affairs for WSHU Public Radio. Currently, he is a Software Support Specialist at Fingercheck.

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