Business
Do you outsource payroll? If you do then you need to watch out! Unscrupulous or desperate payroll service companies can steal your tax deposits, leaving you high and dry.
Uncle Sam doesn't care that you didn't make payroll. Your company (and maybe even you, if you are an owner or officer) are on the hook. You can outsource payroll but you can't delegate the responsibility to pay your required taxes.
In this episode, I discuss the problem for employers who outsource payroll and some tips on how to avoid being burned. As I state in the podcast, your company is responsible for any taxes due and that means you are also responsible for any penalties and interest on any missed payments. Ouch.
I hope you enjoyed this episode. I am always looking for new topics to discuss so feel free to let me know if you want to hear something. My contact information is listed below.
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IRS Resources
IRS Business Phone Number 800-829-4933
Form 14157 Return Preparer Complaint (link here: https://www.irs.gov/pub/irs-pdf/f14157.pdf)
EFTPS sign up https://www.eftps.gov/eftps/
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If you or someone you know has a tax problem, call our office at 207-502-7181 or email us at jwade@jdwadelaw.com. We will be glad to help you. Otherwise, please enjoy our content and let us know if there are topics you'd like us to discuss.
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