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Payroll Services
A payroll service is an accounting service that provides payment remittance service for a company and its employees. The service includes proper calculation of withholding taxes, benefits, retirement plans, overtime, and basic pay.
1,185 Questions
How do you cash a personal check?
Some gas stations may cash it for you, for a fee. As well as banks! But if the check should bounce, you may be spending more than what's on your check!
a "payness" is the southern way of saying "penis".
EX: "Holy payness, that chick has a payness!"
What are theAdvantages of accounting information disclosure?
what are the advantages of accounting information disclosure?
How long does an employer have to keep payroll records?
The term "payroll records" encompasses many things....all types of records and accounting logs, payments of all types to different agencies, payments and calculations of pension and insurance, etc. Do you mean how long do they need to keep individual time cards...clearly a base payroll record....but worthless after no time...and it would cost zillions in storage fees to keep them very long.
So, they really need to keep them for as long as anyone involved might care. As a rule of thumb, 7 to 10 years is standard. In todays world of electronic records, many companies are keeping tape files for much longer...but retrieving them is sometimes very expensive...the systems and computer programs from years ago no longer are active, or can run on the platforms they are using...and it takes time, money and more to actually get data in a usable format.
How long a need for any specific record may exist depends on who is asking and what for. If the President of the company asks for something from those records from 25 years ago....he has a right and you better believe everybody will try to find them. If I ask for something from 2 years ago...why? and "do you realize how much time & money it will cost to get it....and it's in 25 boxes....you want to dig through those in the warehouse...have a good time"...is a more likely response.
If the IRS asks for something, generally they have a statute of limitations on audits for withholding of 3 years - although many things can extend it - and they may also want to audit it as part of the company income tax, or something else yet, which has yet a different period. Outside of the period, and the taxpayer doesn't have to provide it.
I suspect your asking about your own payroll records from an employer. They are required to timely (by 1/31 following the year end) to have provided you with your W-2. Once they timely give them to you, it is YOUR obligation to keep them. It is none of your business how long they keep their records on this or other things. And it will be your problem and expense if you claim they didn't comply with making them available to you. (By trying to mail them to your last known address for example, your receipt is irrelevant). Reporting them (by electronic means) to IRS, etc is required by law.
The specific circumstances of such a case determine the action that can be taken. Cases that involve family members or relatives are often not pursued by authorities or the lending institution especially if the alledged violator resides in the same household. The police do not have jurisidiction in such matters unless the proscutor's office charges the alledged perpetrator and obtains a warrant for his or her arrest. The majority of banks/lending institutions will not get involved until a formal complaint has been filed with authorites and the matter is investigated. The victimized person should contact the prosecutor's office in the county in which the incident occurred to obtain information on how best to proceed. These type of cases almost always result in the plaintiff having to sue the perpetrator in civil court to attempt to recover their financial loss.
What is meaning of payroll system?
The meaning of a payroll system is an established structure used to pay employees on a regular basis. Most businesses have them in some form to streamline the payment process.
A payroll system is a database that includes the details of employees and their respective wages in a company. This is what is used to generate the pay slip.
How do you do certified payroll if you pay bi- weekly?
Certified payroll must be filed weekly, beginning with the first week you actually perform work on a specific job, and continuing weekly until the job is completed.
At what point do federal taxes stop being deducted from payroll check?
The ONLY federal tax that has a limit on it is the Social Security Tax - which has a ceiling of about $106,000 and is indexed each year for inflation. www.IRS.Gov has information regarding the limits.
