Taxes Q & A- We are about to hire employees

We are about to hire employees and need to know how much tax to take out and where to send this money?

You will need to secure a completed Form W-4 (PDF), Employee's Withholding Allowance Certificate, from each employee. You will need Publication 15, Circular E, Employer's Tax Guide, and Publication 15-A (PDF), Employer's Supplemental Tax Guide, to determine the amount of withholding and for directions on depositing the withholding amounts and other employment taxes.

Generally, employers will quarterly file Form 941 (PDF), Employer's Quarterly Federal Tax Return, and annually file Form 940 (PDF), Employer's Annual Federal Unemployment Tax Return (FUTA), and Form W-2 (PDF), Wage and Tax Statement, with Form W-3 (PDF), Transmittal of Income and Tax Statements.

References:

Publication 15, Circular E, Employer's Tax Guide

Publication 15-A (PDF), Employer's Supplemental Tax Guide

Form 940 (PDF), Employer's Annual Federal Unemployment Tax Return

Form 941 (PDF), Employer's Quarterly Federal Tax Return

Form W-2 (PDF), Wage and Tax Statement

Form W-3 (PDF), Transmittal of Income and Tax Statements

Form W-4 (PDF), Employee's Withholding Allowance Certificate

Publication 966 (PDF), The secure way to pay your Federal taxes

Source: www.irs.gov