How are you taxes collected?

Which tax, on what, by whom? Another answer If you are a W-2 earner of a corporation that files 941-940 taxes then they withhold the medicare/social security taxes to be paid to the IRS. This money is withheld in "trust" to be paid on a quarterly basis. However federal income tax should be deducted from your paycheck and reflected on your w-2 for preparation of your yearly returns. The Internal Revenue Serivce collects federal taxes and the state collects their own.