Show navigation

Available in:

OnDemand Webinar

Why You Shouldn't Trust Your Payroll Company to Satisfy Your Payroll Tax Responsibilities

Most companies in today's world outsource payroll functions. Small companies prefer sending all payroll administrative tasks off site for a fixed cost. Larger companies rely upon payroll companies to manage the increasing complex task of handling payroll, taxes, vacation, retirement plan deferrals and so on. However, by passing off these duties, your company is not passing off the liabilities associated with these tasks. Your company faces liabilities along with potential penalties and interest assessments if the payroll taxes are not deposited in a timely manner to the federal and state governments. In fact, the Internal Revenue Service regularly pursues companies that fail to deposit the tax withholding without regard to whether they used a payroll company. Of more concern is the potential assessment by the IRS by against you, personally, as an employee and responsible person of the company.

This on-demand webinar will brief you on what services payroll companies offer, how to select a reputable company, how to spot red flags and what you can do to limit your company's liability, as well as your potential personal liability. Additionally, we will discuss our recent experience with payroll tax matters, correction options and what to expect when dealing with the IRS. For example, we recently worked with the IRS in regards to a $600,000 penalty assessment following gross financial mismanagement as the result of a mentally ill controller and a series of unusual circumstances. The story shows that sometimes a look at the facts and a creative argument can make a serious difference.

Learning Objectives:

  • You will be able to discuss what services a payroll company generally offers.
  • You will be able to identify payroll tax outsourcing risks.
  • You will be able to discuss protecting yourself and your employer.
  • You will be able to review ongoing potential employer and personal liability risk.

Runtime: 87 minutes
Purchase Options

More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview

  • What Services a Payroll Company Generally Offers
  • What Are an Employer's Payroll Tax Responsibilities?
  • How Does the Payroll Tax World Work?
  • Who Is a Player?

Payroll Tax Outsourcing Risks

  • What Are the Employer's Responsibilities?
  • What Are the Risks an Employer Faces When Using a Payroll Company?
  • What Are the Personal Risks and Penalties for Employees?
  • Potential Problems and Penalties
  • Real Life Example: Government Contractor's Payroll Company Embezzled Payroll Tax Amounts and Then Closed Shop

Protecting Yourself and Your Employer

  • Choosing a Payroll Company
  • Warning Signs to Look For
  • Compliance Procedures and Areas of Follow-Up
  • When the IRS Comes Calling

Discovered a Problem?

  • Correction Programs
  • How to Get Back on the Right Track
  • Ongoing Potential Employer and Personal Liability Risk
  • Real Life Example: Creative Negotiation With the IRS When Controller's Mental Illness Results in Years of Cover-Up and Gross Financial Mismanagement

Summary

  • Questions and Answers
  • Comments
Purchase Options

More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on October 16, 2013.

Call 1-866-352-9540 for further credit information.

No Credit Available

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Purchase Options

More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Jewell Lim Esposito

Jackson Lewis P.C.

Jewell Lim Esposito, Esq.

  • Partner with the law firm of Constangy, Brooks & Smith, LLP in the Metro D.C. Area
  • More than 20 years of practice in the area of employee benefits tax law
  • Focuses on employee benefits law with an emphasis on payroll taxes and executive compensation, along with Title I (DOL fiduciary compliance) and Title II (IRS tax qualification) work
  • Represents executive management of public and private corporations, nonprofit organizations, government contractors, and 401(k) and other retirement plans that have been audited by the Internal Revenue Service and the Department of Labor
  • Also negotiates and structures settlements with the IRS with respect to delinquent payroll and employment taxes
  • •Has written a number of payroll tax, employee benefits and executive compensation publications
  • Regularly speaks on payroll tax, fiduciary and retirement plan issues
  • J.D. degree, Brooklyn Law School; B.B.A. degree, College of William
  • Can be contacted at 571-522-6108 or [email protected]

David M. Mohl

Jackson Lewis P.C.

David M. Mohl, Esq.

  • Associate with the law firm of Constangy, Brooks & Smith, LLP in the Metro D.C. Area
  • Practices employee benefits tax law focusing on 401(k) and 403(b) compliance, payroll tax issues, executive compensation, and health and welfare plans
  • Recently successfully negotiated settlement in an ERISA litigation matter to avert a costly trial and has significant experience in correcting retirement plan operational failures with the IRS
  • J.D. degree, Washington University, School of Law; B.S. and B.A. degrees, Truman State University
  • Can be contacted at 571-522-6119 or [email protected]
Purchase Options

More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today
With This Course

Access to all training products for one year
$699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.

Product ID: 391152
Published 2013
Purchase Options

Available in Multiple Formats

Purchase this course and learn on your schedule!