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Reporting FICA Taxes and Employer Responsibilities

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What is the form required to report FICA taxes to the federal government and what is the annual earnings form that an employer must give each employee. Is it the same form if the person is an employee or a contractor? Describe employer responsibilities for reporting payroll taxes and how are they classified on the company's financial statements.

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Solution Summary

This solution discusses forms required to report FICA taxes and describes the responsibilities of the employer with regards to reporting payroll taxes.

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The form that an employer would give an employer so that they can report taxes would be a Form W-9.

The form an employer must given an employee at the end of each year showing their earnings is a W-2.

If a person is a contractor and not an employee of the company, they would be provided a 1099.

An employer is required to report taxes that they deduct from an employee's ...

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