Payroll 101: Withholding, Depositing and Reporting Federal Taxes in 2024

Payroll 101 revolves around the basics of withholding, depositing, paying, and reporting payroll taxes. It is easy to forget that the withholding of these taxes, like FICA U.S. payroll Tax, FUTA tax and many more, falls under IRS regulations that are strict and non-yielding in many cases. Every payroll professional, from the seasoned veteran to the novice beginner, must have an excellent working knowledge of these requirements to process payroll efficiently and in compliance.