Know Your Tax Responsibilities As An Employer
As an small business owner there are several payroll duties you can outsource, however you need to be aware of several things:
- The outsourcing service administering payroll taxes, the employer provides the funds
- If there are any questions, the IRS will contact the employer
- The Employer bears final responsibility for payroll administration
EFTPS provides secure, accurate and easy to use online payroll tax transfers and provides immediate confirmation of each transaction. This service is provided free of charge and allows employers to make and verify federal tax payments 24/7. Visit eftps.gov or call (800) 555-4477 for an enrollment form.
Remember, as employer you bear ultimate responsibility for payment of income tax withheld and both the employer and employee portions of social security and Medicare taxes.
To learn more about how to outsource payroll for a small business, call 888-704-0136 and request a 30 day free trial.