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Form Steps to Complete 2553 IRS for Santa Clara California: What You Should Know

Please Note: The employee is responsible for providing the name and address of the person in charge of the income tax and federal withholding on their paycheck or tax return. Employer's Responsibilities The person in charge of the income tax and federal withholding on your paycheck is your employer. You are obligated to provide the information on your weekly paycheck and to report it on the federal income tax return as required. The employer is required to withhold to correct the required amount of taxes from the payments it makes to you. You must withhold the correct amount of tax from your remuneration. If you do not timely withhold tax from your employee's pay: Your employer may be subject to penalties, interest charges and back wages for each failure. You must report your employee's income, deductions, exemptions and tax credits on all of your monthly W-4s and on  any statement required to be filed during the tax season. If you do not keep records that properly reflect how your employee received, used and disposed of your property and how you allocated employee property between your business and partners, you may be subject to criminal charges.

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