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1. No More Penalties
The IRS reports that 45% of business's are fined each year for filing payroll taxes late or incorrectly. These fines can be extreme. Today, one of the worst liens that are pursued by the IRS is payroll tax penalties. This is because the IRS tends to view a failure in depositing payroll taxes as theft! Falling into a payroll tax penalty is rather ugly and expensive as the tax code authorities permit the IRS to assess 100 PERCENT PENALTY against the respective parties.
Without even considering the State penalty possibilities, a business can be penalized by the Federal government for:
a. Failure to file a payroll tax return.
b. Failure to pay a payroll tax.
c. Failure to withhold, deposit or pay payroll taxes.
d. Failure to file information returns.
e. Failure to furnish correct payee statements.
f. Failure to properly calculate tax liabilities.
As a client of Payroll Express, all of these worries are eliminated!