Tax & Accounting Blog

EFTPS email system is live

EFTPS email system is live

In 2012, the IRS initiated Rev. Proc. 2012-32. This ruling made it mandatory for all payroll service providers (PSP) to inform their clients — initially upon contract and at least every quarter — that they are filing returns and/or paying taxes on behalf of the clients. The PSP were supposed to encourage their clients to … Read More

Payroll Updates — New Email Options for EFTPS Users, Accelerated W-2s and 1099s

Payroll Updates — New Email Options for EFTPS Users, Accelerated W-2s and 1099s

New email options for EFTPS users Electronic Federal Tax Payment System (EFTPS) users now have the option to receive emails from the IRS about their electronic tax payments. You can sign up for payment status emails by visiting eftps.gov/eftps. EFTPS is the electronic funds transfer (EFT) system used by the Treasury Department to collect … Read More

7 Smart Reasons for Your Payroll Clients to Use Time Clocks

7 Smart Reasons for Your Payroll Clients to Use Time Clocks

Looking to enhance your payroll offering? There’s no better way than placing time clocks in your clients’ businesses. Time clocks are simple to implement; in many cases they integrate with your current payroll software. They also provide an additional revenue stream for your firm, in addition to other benefits we’ll explore in this post. Benefits … Read More

Unemployment Rates and Important Due Dates

Unemployment Rates and Important Due Dates

This month, let’s discuss unemployment rates. Most states set unemployment rates using individual company fund balances, type of industry and experience. The following states also allow companies to “buy down” their individual unemployment rates for the next year by making a voluntary contribution. This calculation is available on the state websites (e.g. Massachusetts … Read More