Welcome Guest. Register Now!  

Payroll Payroll related topics.

LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-10-2010, 07:38 PM
TaxGuru's Avatar
Tax Guru
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,413
Blog Entries: 3
How can an Employer avoid possible penalties and interest associated with Payroll Tax Returns?

An employer can avoid paying penalties and interest if that employer does all of the following:

1. If the Employer deposits or pay their payroll taxes when they are due, using EFTPS if required.

2. If the Employer files their fully completed Form 941 on time.

3. If the Employer reports their payroll tax liabilities accurately.

4. If the Employer submits valid checks for the payroll tax payments.

5. If the Employer furnishs accurate Forms W-2 to all of its employees.

6. If the Employer files "Form W-3" and "Copies A of Form W-2" with the Social Security Administration (SSA) on time and accurately.

Penalties and interest are charged on taxes paid late and returns filed late at a rate set by law

Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.

Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
When must an employer file their quarterly 941 payroll tax returns? TaxGuru Payroll 1 06-17-2015 12:35 PM
When Must an Employer Deposit their Payroll Tax Liabilities? TaxGuru Payroll 0 02-10-2010 07:33 PM
IRS granting relief of penalties on late payroll tax deposits. TaxGuru For 2008 1 08-06-2008 05:42 PM
Is it better to do your own payroll tax returns or hire an outside payroll company? Sabby Sole-Proprietorship 1 07-21-2008 01:02 PM
Penalties and Interest Amir Estimated Taxes 1 01-16-2007 09:29 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 » Income
 » IRA/Sep
 » Medical
 » Payroll
Forum for CPAs
Financial Planning

» Recent Tax Q&A