One of the things accountants and CPA's don't spend a lot of time talking about is payroll. As far as accounting services go, most CPA's find payroll services to be more of a necessary offering than a road to riches.
However, small business owners should take notice. The federal government is cracking down on employers that hire employees who do not have proper documentation. In recent weeks, many businesses have been served notices that their employment files have been chosen for review.
Usually in these instances, the federal government is looking for documentation relating to proper due diligence of business owners. Most business owners may not even be aware that they are required to make sure that the people they hire are eligible to be employed in the United States.
If you have a large payroll provider they may be supplying your company with these reporting requirements, but if they don't your company may not be in compliance. For that reason, it would be a good time for all employers to make sure they have good employee files and have met all employment record requirements for both the Federal and State governments (also local government(s) in some instances).
To add further credence to my point, here is a link to an article on The Wall Street Journal's website:
http://online.wsj.com/article/SB10001424052702304186404576387843087137216.html?mod=WSJ_myyahoo_module
However, small business owners should take notice. The federal government is cracking down on employers that hire employees who do not have proper documentation. In recent weeks, many businesses have been served notices that their employment files have been chosen for review.
Usually in these instances, the federal government is looking for documentation relating to proper due diligence of business owners. Most business owners may not even be aware that they are required to make sure that the people they hire are eligible to be employed in the United States.
If you have a large payroll provider they may be supplying your company with these reporting requirements, but if they don't your company may not be in compliance. For that reason, it would be a good time for all employers to make sure they have good employee files and have met all employment record requirements for both the Federal and State governments (also local government(s) in some instances).
To add further credence to my point, here is a link to an article on The Wall Street Journal's website:
http://online.wsj.com/article/SB10001424052702304186404576387843087137216.html?mod=WSJ_myyahoo_module
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