Owed to the IRS

The video tutorial explains payroll deductions, focusing on net pay, gross earnings, and tax withholdings. It details the shared responsibilities of Social Security and Medicare taxes between employers and employees. The tutorial provides methods for calculating gross earnings and taxes, using case studies of Jasmine and Caroline to illustrate these calculations. It also covers employer responsibilities in tax remittance and the implications for self-employed individuals.

What deductions may vary by individual employees?

What is the process for an employer to send withheld taxes to the IRS?