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In house payroll processing for small businesses always seems to present problems. Payroll penalties and interest penalties are often placed upon small businesses. Did you know that according to industry estimates small businesses and mid sized businesses pay almost 70% of payroll related penalties? There is at least 40% of small businesses that pay an average of 5 per year in penalties that have something to do with payroll. So it is safe to say that when it comes to payroll, taxes appear to be the biggest culprit when it comes to being assessed IRS penalties.

Employers that don’t file a timely form 941 are subject to stiff IRS payroll penalties. As an employer if you do not deposit enough withholding and payroll taxes you may be assessed stiff penalties. There are a great many reasons that a small business can be assessed penalties. You do realize that as an employer you may be assessed penalties for simply forgetting to record a payroll check. Even if you don’t properly classify an independent contractor you can be assessed penalties. This is a common error.

How do you keep up with all of the laws and regulations? Why not consider using outside sources? Why shouldn’t this reduce the risk of IRS penalties? Many small to mid sized businesses are afraid of outsourcing their payroll because traditionally it has always been rather costly. Can small business owners do anything to avoid these pitfalls?

Well there are a number of companies that provide payroll processing services. From ready to sign checks to tax returns. These types of companies specialize in processing payroll and can at times mean the difference of paying severe penalties or staying within the law and paying and filing taxes on time. How difficult would it be to find these kinds of companies? Is it a possibility to locate the right. honest and reputable payroll services company? Choosing the company that is right for you can be a daunting task? Should you choose a web-based payroll processing service company? Why wouldn’t you outsource get the pros and cons of payroll outsourcing?

Click the link for more information about outsourcing payroll processing services. All of your payroll questions will be answered.

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