Payroll Taxes

Payroll services by a CPA

CPAs which service small businesses usually provide "post facto" payroll services. These include preparing the mandatory quarterly Federal form 941 and state wage reports. Other quarterly reports can also include state unemployment, disability and workers compensation reports. These reports vary from state to state. CPAs can advise their client as to when tax payments must be made. Penalties for making payments late can exceed any fee the CPA could charge for these services by thousands of dollars. Penalties for late payment of payroll taxes are extremely harsh. A CPA can advise you as to state and federal payroll requirements that apply to your given situation. Annual routine audits by the state unemployment agency, the workers compensation and disability insurance company are handled by the CPA. Some CPAs provide even more extensive day-to-day payroll services for their clients, but most CPAs prefer to work with a payroll service company for their larger clients. These payroll service companies take the responsibility for producing employee checks, withdrawing the money for the government from the client's bank account and making the timely tax payments to the government agencies.

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