Company Loses Payroll Tax Money

Omni Land Settlement Corporation said about $200,000 it paid in payroll taxes is missing after the payroll company it entrusted the money to declared bankruptcy on May 6.

Note: We generally only recommend the  use of the national companies, ADP or Paychex, if you are going to have the payroll taxes “impounded” and remitted by the payroll company on your behalf.  While there is no guaranty of the same with them, these are large national companies subject to much more governance, oversight, and scrutiny. These companies are service providers only.  Ultimately, the responsibility for remittance of the taxes to the government remains with the employer. You are able to verify payroll tax deposits with the government.  We would recommend doing this at least periodically as a safeguard. Should you receive any correspondence from the government about unpaid payroll taxes, act immediately.  As always, you can contact us with any questions.

Read More » [WBALTV]

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