2016 form mw508-2025

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Correcting Maryland taxes withheld in error If Maryland tax was withheld from your income in error you must file to obtain a refund. Complete all of the information at the top of the Form 505 including the filing status, residence information and exemption areas.
In Maryland, employers are required to pay both state and federal payroll taxes. These payroll taxes include Federal Income Tax (FIT), Social Security and Medicare taxes, and State Unemployment Insurance Tax. Employers must also withhold the employees share of Social Security and Medicare tax from their paycheck.
Exemption from withholding. You may claim exemption from withholding for 2022 if you meet both of the following conditions: you had no federal income tax liability in 2021 and you expect to have no federal income tax liability in 2022.
this year you do not expect to owe any Maryland income tax and expect to have the right to a full refund of all income tax withheld. If you are eligible to claim this exemption, your employer will not withhold Maryland income tax from your wages.
As an employer, youre responsible for withholding the right amounts from employee paychecks and sending those funds to the appropriate tax authorities. Annual withholding reconciliation is the process where you compare all those withheld taxes with the amounts youve actually submitted throughout the year.
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Maryland Annual Employer Withholding Reconciliation Form MW508. Form MW508 is an Annual Employer Withholding Reconciliation used to report the total income taxes withheld from employees/contractors and taxes remitted to the state. It is filed annually to ensure compliance with Marylands withholding tax requirements.
Employers are also required to submit an annual employer withholding reconciliation return (Form MW508) to the Comptroller of Maryland by the due date January 31st of each year, showing the prior years wage and withholding information.

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