A tax liability report is a summary of payroll withholdings for a given period in time. Workful’s tax liability report summarizes the amounts withheld for federal and state taxes per employee. The report will show the total federal and state tax liability due for that period.
You may choose to run a report for the quarter or a point in time to view what is due. This report will help you when it is time to make your Scheduled payroll tax deposit. The report will also help you reconcile your Form 941.