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Payroll Taxes Definition

November 11, 2015

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Term Definition
Payroll taxes are paid by employers to the federal government.

Extended Definition
Payroll taxes include the portion of funds held out of the employee’s wages for Medicare, Social Security and federal withholding. Employers also match a certain percentage of Medicare and Social Security taxes for each employee. Payroll taxes are usually paid on a quarterly basis.

Related Article
What Are Payroll Taxes?

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