Processing payroll involves more than just writing checks and paying employees in a timely fashion. It can be extremely labor-intensive, requiring a massive amount of paperwork and detailed record keeping. A company is responsible for complying with various complex regulatory and tax-related issues at federal and state levels, which can be overwhelming, even costly. Each year, the IRS makes numerous tax updates. It’s no surprise, then, that many employment tax returns are filed incorrectly and result in penalties, which can quickly add up — fines in the hundreds, thousands, even tens of thousands of dollars. Criminal charges maybe even be brought against a company that fails to file employment tax returns. Read more about the consequences. PDR Group can help your company avoid costly tax filing mistakes and penalties.
Below are some discrete challenges a company typically confronts when processing payroll:
- Staff expertise is required in multiple areas — a lot to ask of an individual who may lack payroll and tax knowledge
- At a higher risk for filing errors (added liability to the company)
- Labor costs can increase due to additional personnel hours
- Wasted time — time that could be better spent addressing other pressing operational issues
PDR Group offers comprehensive Payroll & Tax services for companies of all sizes, market circumstances and industries — from construction to manufacturing to retail to technology. As an example, we provide the following services:
- Employee Set-Up (deductions, benefits, filing status)
- Payroll Preparation (use the Internet or customized software)
- Payroll Payment (checks, direct deposit, paycards, EFT); Convenient Delivery Options
- Payroll Reports (certified payroll, payroll reconciliation), Accounting (Quickbooks) integration
- Payroll Tax Deposits (federal, state, workers compensation)
- Quarterly Tax Reports (941s, TC-96, UI, WCI)
- Year-End Tax Reports (W2s, W3s, Federal Wage Listing, TC-96R, 940, State Unemployment Reconciliation)
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