By Payroll Update Staff
The IRS issued the 2024 version of Publication 926, Household Employer’s Tax Guide.
Publication 926. Publication 926 helps taxpayers determine whether they have household employees and are liable for federal employment taxes (i.e., Social Security, Medicare, FUTA, and federal income tax withholding). Specifically, the publication contains sections on determining if a taxpayer has a household employee, can that employee legally work in the United States, if the taxpayer need to pay employment taxes, if the taxpayer needs to withhold federal income tax, information on the earned income tax credit, how to make tax payments, what forms the taxpayer may need to file, recordkeeping, and other items related to household employment (see Payroll Guide ¶2560).
