IRS warns about outsourced payroll
Tuesday/September/02 12:02 Filed in:
IRSby Derek G. Rowley (c) 2008. All rights reserved.
LAS VEGAS - The IRS recently issued a warning to employers that outsource their payroll responsibilities to third-party service providers to be aware of certain potential problems. First, they remind employers that they are ultimately responsible if the provider fails to make payments. Second, they don’t recommend that you change the address of record on file with the IRS, so if there is problem you will know about it. Third, they recommend that you have the payroll provider post a fiduciary bond to protect you. And fourth, the IRS recommends that you ensure that your payroll provider uses Electronic Federal Tax Payment System (EFTPS) so you can confirm that payments are made on your behalf.Tags: payroll, EFTPS