Payroll tax rates, thresholds, and deadlines change from year to year. Figures below reflect 2026 federal rules as of publication — always confirm current numbers with the IRS or a licensed payroll professional before filing. You've decided to hire your first employee. Congratulations — that's a real milestone. It also means you've just inherited a stack of federal requirements you didn't have to think about when it was just you. Payroll for small business sounds intimidating