전체검색

• 목록
• 답변
• 글쓰기
• 게시판 리스트 옵션
  • 수정
  • 삭제

Outsourcing payroll responsibilities can be a sound business practice, but ... Know your tax duties as a company

Many companies outsource some or all their payroll and associated tax duties to third-party payroll provider. Third-party payroll provider can simplify service operations and help fulfill filing due dates and deposit requirements. A few of the services they provide are:

- Administering payroll and employment taxes on behalf of the employer where the company offers the funds at first to the third-party.
- Reporting, gathering and work taxes with state and federal authorities.

Employers who contract out some or all their payroll duties ought to think about the following:

- The employer is ultimately accountable for the deposit and payment of federal tax liabilities. Although the employer may forward the tax totals up to the third-party to make the tax deposits, the employer is the accountable celebration. If the third-party fails to make the federal tax payments, then the IRS may evaluate charges and interest on the employer's account. The employer is accountable for all taxes, penalties and interest due. The employer might likewise be held personally liable for particular unsettled federal taxes.
- If there are any issues with an account, then the IRS will send correspondence to the company at the address of record. The IRS highly recommends that the employer does not change their address of record to that of the payroll service company as it might significantly restrict the company's ability to be notified of tax matters including their business.
- Electronic Funds Transfer (EFT) should be used to deposit all federal tax deposits. Generally, an EFT is made using Electronic Federal Tax Payment System (EFTPS). Employers ought to guarantee their payroll companies are utilizing EFTPS, so the employers can validate that payments are being made on their behalf. Employers need to sign up on the EFTPS system to get their own PIN and use this PIN to periodically verify payments. A red flag needs to increase the very first time a company misses a payment or makes a late payment. When an employer signs up on EFTPS they will have on-line access to their payment history for 16 months. In addition, EFTPS allows employers to make any additional tax payments that their third-party company is not making on their behalf such as estimated tax payments. There have actually been prosecutions of people and business, who acting under the appearance of a payroll service company, have actually taken funds meant for payment of employment taxes.

EFTPS is a protected, precise, and easy to use service that offers an immediate confirmation for each deal. This service is used complimentary of charge from the U.S. Department of Treasury and allows companies to make and validate federal tax payments digitally 24 hours a day, 7 days a week through the web or by phone. To learn more, companies can register online at EFTPS.gov or call EFTPS Client service at 800-555-4477 for a registration kind or to consult with a customer care representative.

Remember, companies are eventually accountable for the payment of income tax withheld and of both the employer and worker portions of social security and Medicare taxes.

Employers who think that a costs or notice received is a result of a problem with their payroll service company need to call the IRS as soon as possible by calling the number on the bill, composing to the IRS workplace that sent out the bill, calling 800-829-4933 or visiting a regional IRS workplace. To find out more about IRS notifications, costs and payment alternatives, refer to Publication 594, The IRS Collection Process PDF.