You might be able to claim a credit for a portion of the wages you pay to an employee who’s one of these: You can prepare and file up to 50 W-2s at a time, free of charge, at Using SSA’s online W-2 filing, you can also print out all the copies of the W-2 for your employees, state taxing agencies, and others.ĭue dates for filing the W-2s with the SSA are: This ensures that your employees have the correct Social Security amounts for retirement. You should file these forms in a timely manner. You must also send a copy of the W-2 to the Social Security Administration (SSA). 31 of the year after the calendar year when you paid the wages. You must give a copy of this form to each employee by Jan. It allows businesses to pay federal taxes electronically via the Internet or phone anytime.Īt the end of the year, you must complete a W-2, which reports wages, tips, and other compensation paid to each employee. The employer and employee Social Security and Medicare taxesĮFTPS is a tax payment system provided free by the U.S.You usually must deposit both of these via the Electronic Federal Tax Payment System (EFTPS): Employees don’t pay this tax or have it withheld from their pay. You pay federal unemployment tax only from your own funds. You report and pay this tax separately from these taxes: The federal unemployment tax pays unemployment wages to workers who lose their jobs.

You withhold part of these taxes from your employees’ wages. These include several local, state, and federal taxes.īenefits that workers and families receive under the Federal Insurance Contributions Act are paid for by: As a small business owner with employees, you must withhold certain taxes from your employees’ wages.

Filing taxes for small business llc