Written by Every quarter, small business owners must submit payroll reports to their state and the Internal Revenue Service (IRS). These reports are essential for keeping accurate records of employee salaries, wages, and taxes. In this blog post, we will discuss the information required in these quarterly payroll reports and how to prepare them.
What Information is Required?
The information required in a quarterly payroll report varies by state but generally includes:
- data on employee wages earned each quarter
- employer contributions made during the same period
- taxes withheld from employee paychecks
The report will also include detailed records of each employee’s gross wages (wages earned before any deductions) and net wages (wages after deductions have been taken out).
Additionally, employers should provide information on all employees, including their name, address, social security number, and job title/position held at the company or organization.
How to Prepare the Reports
Incline Business Essentials outsources payroll to a specialized payroll provider like Gusto or Quickbooks. These payroll providers ensure that the reports are remitted to the various jurisdictions in an accurate and timely fashion. Quarterly payroll reporting is included in the service we provide to ensure your company is compliant.
Filing quarterly payroll reports is an important part of running a successful business or organization. The process can be time-consuming, but we ensure this is handled on your behalf.
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