Employers and small business owners that handle their own payroll tax in house may feel like they are in quite a bind. Not only are they responsible for a lot of payroll tax paperwork, but they are also at risk for severe fines if they file something incorrectly. Each year, over eight million penalties are assessed by the IRS because of delinquent or incorrect remittance of federal payroll taxes. The solution could be to hire a highly qualified and experienced payroll process company that can take all of these worries off of ones shoulders.
The ideal payroll services company can take over all of the payroll processing problems that a business owner normally has to worry about. There are two types of federal payroll taxes, including employee withholding taxes and employer payroll taxes. The former is deducted from an employees total compensation, and are paid on behalf of the employee by the employer. The latter are not withheld by the employee, but are paid by the owner, who is responsible for their payment.
That same payroll accounting and outsourcing firm and also help to streamline their clients operations. An automated time and attendance system can make complying with labor laws much simple, which automated telephone systems and web portals can give employees easier access to what they need. In addition to all that, the right payroll tax company can also provide an app for Android, iOS and BlackBerry phones that will allow users to view and update their benefits, payroll and other such services. Find more on this here: www.paychex.com