Running manual payrolls can cost your company time and penalties. Once your company has decided to pay employees and register for a reemployment number, you will go through a look back period to determine how often you will make federal tax deposits. Based on your look back period, you will be either a monthly or semi weekly schedule depositor. If your company accumulates a tax liability of $100,000 or more during a deposit period , you must deposit the tax by the close of the next business day.
If these deposits are not paid by their specified dates throughout the quarter, your company will incur serious tax penalties.
King HR Services Inc. will assist your company with registering for an reemployment number, thoroughly explain the payroll process and ensure payroll is ran properly to eliminate penalties. Give us a call today 941-518-9679 to schedule a free payroll consultation.
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