At the federal level, the main payroll taxes organizations see are for federal income tax, Social Security, Medicare, and Unemployment. While federal income tax is paid just by employees, organizations do have to withhold and deposit the funds to pay this tax on each employee’s behalf, as well as file returns for these deposits every quarter or year. Medicare taxes don’t have a wage base limit, but they do have an Additional Medicare Tax for wages above certain amounts.
Take the Stress out of Taxes
There’s a lot to keep in mind when preparing and filing tax returns, from ever-changing laws and regulations at the local, state, and federal levels to new payroll tax forms. Leave it to Paylocity so you can focus on running your business. We’re a Registered Reporting Agent with the IRS in all 50 states, Puerto Rico, the Virgin Islands, and Guam; trust our payroll tax services experts for timely and reliable support and to accurately prepare, review, and file all necessary documents: 940 federal unemployment returns, 941 quarterly returns, federal and state unemployment tax returns, state and local withholding tax returns, state and local annual reconciliation and all W2s.
Tax Services Overview
Verified federal returns are e-filed within 24 hours. We assume liability, penalty, or interest charge in the event of a Paylocity error.
Visualize year-end tasks with quarterly and year-end insights dashboards.
Experience confidential reporting with all funds reconciled for you by tax code. We also show company-level and employee-level tax setup in real time.
We resolve tax notices on your behalf, with no change to your address with taxing authorities, and provide visibility into federal and state deposits.
We implement check-editing capabilities during payroll processing to ensure your returns are error-free. We also automatically alert you of any potential data-validity issues.
Paylocity and Blue Marble provide integrated global solutions to help manage foreign currencies, time zones, and unique compliance requirements for all your payroll and tax filing needs.
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Frequently Asked Questions
In general, tax preparation fees are considered an “ordinary and necessary” expense for business owners and are deductible on Schedules C, F, and E.
Yes, our tax preparation services experts will accurately prepare, review, and file the necessary documents for you. We're a Registered Reporting Agent with the IRS in all 50 states, Puerto Rico, the Virgin Islands, and Guam. We help you prepare and file:
- 940 federal unemployment returns and 941 quarterly returns
- Federal and state unemployment tax returns
- State and local withholding tax returns
- State and local annual reconciliation
- All W-2s and file with the Social Security Administration
We can also provide and file 1099-MISC forms (employee and employer copies) and give you quarterly and year-end reporting through our dashboards so you can visualize year-end tasks. Save time and get the support you need to put the confidence back into online tax filing.