By IRS for Taxes

[POAD]

I just ran my first payroll! In the Bank Withdrawal Summary it gives me a nice breakdown. It says there is one item "By IRS for Taxes". I understand the items that say "By Square.." but the one that says By IRS...how/when does the IRS take those funds? Is there a setting? Perhaps I've already set that up and didn't realize it. Also, I can't ever find anyone to call for help!!

[pessosices]

Congrats on your first payroll run!

The “By Square” is Square’s fees for running your payroll. 
The “By IRS for Taxes” is Sent by square directly to the IRS to cover any applicable payroll taxes. It’s done automagically within the next 24-48 hours from your account - you don’t have to set anything up, square just does it! It’s pretty wonderful. 

Hope this helps!

[Valentina]

Thanks for hopping in here, @pessosices! 😊 

@POAD - to get in touch with us, please follow the steps outlined here. You'll need your unique Customer Code to be connected to our Customer Success team, and the steps linked will provide you with both your code and our phone number!

[LaurenSQ · Accepted solution]

Great question! The debit by the IRS  includes the employer and employee taxes for Federal Income Tax, Medicare, and Social Security. These taxes are debited directly by the IRS and will labeled as USATAXPYMT on your bank statement. These taxes will be debited every time you process payroll. There is more information in the Payroll Tax Summary support article which may help too.