Calculating payroll taxes is a vital part of ensuring your organization complies with IRS regulations. It involves taking the income of each employee and deducting any necessary taxes, such as federal income tax, Social Security tax and Medicare tax, from their wages each pay period. This can be a tedious process, but it’s an important one to ensure your business runs smoothly and all taxes are paid in full and on time. The proper calculation of payroll taxes can help you avoid costly fines and penalties, so it’s important to stay up to date with changing regulations and make sure you’re calculating them accurately.