Outsourced payroll tax deposits; wrongful IRS levy or seizure claims

 

e-News for Small Business August 7, 2018
Tax Resources for Small Business Small Business and Self-Employed One-Stop Resource Small Business Forms & Instructions Small Business Events Small Business Webinars e-File for Businesses and Self-Employed Businesses with Employees Small Business Products Self-Employed Individuals S Corporations Other Resources IRS.gov Find it Fast! All Forms and Instructions Filing Your Taxes Make a Payment Taxpayer Advocate Service Retirement Plans Tax Information for Charities and Other Non-Profits State Links SSA/IRS Reporter IRS Social Media	Issue Number:  2018-26 Inside This Issue Small business employers can and should monitor outsourced payroll tax deposits New law gives businesses, individuals more time to challenge a wrongful IRS levy 1.  Small business employers can and should monitor outsourced payroll tax deposits Many small business employers hire third-party payroll service providers to perform their payroll processing functions and tax-related duties, including making employment tax deposits through the Electronic Federal Tax Payment System (EFTPS). EFTPS is a free, easy to use, and convenient way to pay all federal taxes through a secure government website. It is important small businesses monitor their tax deposits as they, generally, remain liable for any unpaid employment taxes. This includes any penalties and interest resulting from underpayment, even if they use a third-party payroll service provider. Note: this may not apply to employers using Certified Professional Employer Organizations. Tips to help employers meet their employment tax responsibilities: Establish an EFTPS account to monitor deposits. Sign up for email notifications on EFTPS.gov. Contact the third-party payroll service provider immediately regarding incorrect or missing tax deposits. Employers can visit Outsourcing payroll and third-party payers on IRS.gov, the EFTPS.gov website, and watch the video Monitoring your outsourced payroll duties on EFTPS for more information. Back to top 2.  New law gives businesses, individuals more time to challenge a wrongful IRS levy Businesses and individuals have additional time to file an administrative claim or bring a civil action for wrongful levy or seizure, according to the Internal Revenue Service. The Tax Cuts and Jobs Act of 2017, the tax reform law enacted in December, extended the time limit for filing an administrative claim and for bringing a suit for wrongful levy from nine months to two years. Back to top                           Thank you for subscribing to this IRS e-mail service. This message was distributed automatically from the mailing list e-News For Small Business. Please Do Not Reply To This Message.

 

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