An Internal Revenue Service audit is something most, if not all, Texas residents dread, which is why worrying about it is only natural. People hold on to receipts and other paperwork for ages in fear of one, but how long should a person worry about an audit and hold on to documentation?
What are payroll taxes that are due?
Employers have a number of duties that need to be fulfilled in order to run a legal and successful business in Austin. One of these responsibilities is that of collecting, reporting and paying payroll taxes, as required by both federal and state law. Additionally, if the employer is the IRS defined responsible party, the employer might be personally liable for taxes that have not been reported. Even if a payroll service is being used, a person is not relieved of their responsibility to complete their duty in a timely manner correctly.
