When thinking about the tax obligations of your organization , the focus is normally on federal and state income taxes . But collecting , reporting and remitting payroll taxes in accordance with federal , state and local laws are equally important . The rules that come with payroll tax payments can be complex and the penalties for not meeting the requirements are severe . Employers bear the ultimate responsibility for the reporting and payment requirements , therefore understanding these obligations and penalties is crucial .
how to avoid PAYROLL TAX PENALTIES
When thinking about the tax obligations of your organization , the focus is normally on federal and state income taxes . But collecting , reporting and remitting payroll taxes in accordance with federal , state and local laws are equally important . The rules that come with payroll tax payments can be complex and the penalties for not meeting the requirements are severe . Employers bear the ultimate responsibility for the reporting and payment requirements , therefore understanding these obligations and penalties is crucial .
14 VIEWpoint Issue 2 | 2023