IRS Cracks Down on Payroll Service ProvidersMay 21, 2015
Improvements are needed to safeguard and protect employers that use payroll providers.
This was the basis of a recent report sent to the IRS by the Treasury Inspector General for Tax Administration TIGTA noted that several payroll providers have not been compliant with payments and filing requirements. This is the polite way of saying that several payroll companies have impounded taxes on behalf of their client and then did not remit them.The audit report also stated that processes are needed to link third party payers to employers, to reduce risks related to employment tax fraud. Read more in the Accounting Today.
Thomson Reuters Tax & Accounting business