Employment Tax Reporting
PROTECTING YOUR BUSINESS
Business owners and employers are required to report to the government information regarding who they hired, how much they paid their workers and how much they withheld from their worker’s compensation. Failure to properly report this information can result in significant penalties for the employer.
In addition to penalties for failing to timely or properly report worker compensation information to the government, the employer may find itself subject to a worker classification audit, particularly if the employer is reporting that its workers are independent contractors as opposed to employees.