Payroll Tax Reports Deadline

This is a friendly reminder from the professionals at BW James LLP that all payroll tax reports are due on October 31, 2013 for the 3rd Quarter.

The quarterly form is Form 941 and is due the month following the end of each quarter and is used to pay federal withholding, employee and employer social security tax, and employee and employer Medicare tax.

Your state unemployment tax is also due quarterly to the Texas Workforce Commission on the same date.  If you are a monthly depositor, then the Form 941 will account for your deposits and there will usually be no additional taxes due.

The Texas Workforce Commission collects your state unemployment tax and is determined by the number of claims for unemployment benefits your past employees have made.  The fewer the claims, the lower the rate.

BW James LLP is available to ensure you have all forms you need and to make sure these are filed completely and on time, October 31st.  For more information about the professionals at BW James visit http://www.bwjames.com