subject: Your Payroll And Your Tax Computation [print this page] Payroll services have been the answer to much of the problems of different companies when it comes to the processing of their payrolls. These services have taken the toll off the shoulders of companies by providing them with accurate and timely payroll processing. But there is still one aspect that is often left unanswered, whether or not payroll services also include tax processing.
With regards to the tax services that are offered by different payroll companies, it always goes back to the initial negotiations between your company and the payroll service company. If you have agreed that they would be processing your tax requirements, then they can. If you have not agreed on this aspect, then you need to take it up with the company to clear things up.
Payroll companies that provide services for tax payment would process taxes on behalf of the client. You should not be worried about the legal side of things in this aspect, since having a payroll provider make the deposits on your behalf is duly recognized by the government. This would also entail transmittals. All of these would mean that they would now be handling activities pertaining to tax-related tasks. You would be free of the problem of having to prepare tax returns and also income reports that are required by state laws to be submitted.
An added advantage when employing payroll tax services is on-time submission of reports. No delay is incurred once everything is done promptly. As a result, no penalties shall be paid by your company. In fact, most of these payroll companies guarantee that they shall be the one to pay the penalty if they are the ones who shall incur delay in submission of reports.
Aside from making on-time submissions, payroll tax services also provide accurate figures with regards to the tax reports, along with the processing of payroll. You are assured that the figures stated in the report reflect the real score and are bereft of errors.
It is always ideal to avail of payroll tax services offered by your payroll service provider so that you would be assured of a timely and accurate submission of reports. Aside from that, you are lessening the burdens faced by your employees when it comes to payroll.
by: Amy Shanks
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