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

Many companies outsource some or all their payroll and related tax duties to third-party payroll provider. Third-party payroll provider can enhance service operations and help meet filing due dates and deposit requirements. Some of the services they offer are:

- Administering payroll and employment taxes on behalf of the employer where the employer supplies the funds initially to the third-party.
- Reporting, collecting and depositing work taxes with state and federal authorities.

Employers who outsource some or all their payroll responsibilities ought to consider the following:

- The employer is ultimately accountable for the deposit and payment of federal tax liabilities. Even though the employer may forward the tax totals up to the third-party to make the tax deposits, the company is the responsible 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 company is accountable for all taxes, penalties and interest due. The company may also be held personally liable for specific unsettled federal taxes.
- If there are any concerns with an account, then the IRS will send out correspondence to the employer at the address of record. The IRS highly recommends that the company does not change their address of record to that of the payroll service company as it may significantly limit the employer's ability to be informed of tax matters their company.
- Electronic Funds Transfer (EFT) must be utilized to deposit all federal tax deposits. Generally, an EFT is used Electronic Federal Tax Payment System (EFTPS). Employers must ensure their payroll providers are using EFTPS, so the companies can confirm that payments are being made on their behalf. Employers ought to sign up on the EFTPS system to get their own PIN and utilize this PIN to periodically validate payments. A red flag must increase the very first time a service company misses a payment or makes a late payment. When an employer registers on EFTPS they will have on-line access to their payment history for 16 months. In addition, EFTPS allows companies to make any additional tax payments that their third-party service provider is not making on their behalf such as estimated tax payments. There have been prosecutions of people and companies, who acting under the look of a payroll provider, have taken funds intended for payment of employment taxes.

EFTPS is a protected, accurate, and simple to utilize service that offers an immediate verification for each transaction. This service is offered complimentary of charge from the U.S. Department of Treasury and allows companies to make and confirm federal tax payments digitally 24 hr a day, 7 days a week through the internet or by phone. To find out more, companies can enroll online at EFTPS.gov or call EFTPS Client service at 800-555-4477 for an enrollment kind or to speak with a customer support representative.

Remember, companies are ultimately accountable for the payment of income tax kept and of both the employer and staff member portions of social security and Medicare taxes.

Employers who think that an expense or notification received is a result of a problem with their payroll company ought to call the IRS as quickly as possible by calling the number on the expense, composing to the IRS office that sent out the expense, calling 800-829-4933 or visiting a local IRS office. To find out more about IRS notices, costs and payment choices, describe Publication 594, The IRS Collection Process PDF.