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Old 02-17-2009, 06:19 PM
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payroll taxes

I had an employee for 5 months in 2008 and did not pay the payroll taxes or file a w2. I can pay the taxes...what are my steps to take care of this now. I know there will be penalties but not how much. Should I file a 1099 for this employee?



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Old 02-17-2009, 10:48 PM
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I suggest you contact your CPA or Tax adviser who will either file all the delinquent payroll quarterly tax returns or he would suggest a Payroll company to assist you in meeting full compliance with respect to your payroll tax returns.

The penalties for delinquent payroll tax return filings is 10% of the total tax liabilities, and in addition, you would also be assessed statutory interest as well on all outstanding tax liabilities. I suggest that you avoid the 1099-Misc filing option as it appears that the employee was really a full time employee

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