Tag: payroll

Employers: Beware of Personal Penalty for Late Payroll Tax Payments

Posted on by Andrew Litchford

If federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the IRS, a harsh penalty can be imposed. To make matters worse, the penalty can be assessed personally against a “responsible individual.”

7 Tips to Reduce the Likelihood of Payroll Fraud

Posted on by Andrew Litchford

Payroll fraud is theft of a company’s money using the payroll system. Payroll fraud schemes are some of the most financially devastating because they tend to take place over an extended period – on average, this form of asset misappropriation goes undetected for two-and-a-half years. Like most frauds, the perpetrator is often the company’s most