How Businesses Can Avoid Detrimental Payroll Errors
Managing payroll is one of the most vital tasks business owners have to handle. Although seemingly manageable, a study conducted by the IRS revealed that about 40 percent of SMEs in America face IRS penalties due to incorrect payroll filing. In 2017 alone, more than five million employers faced civil penalties that totaled over seven billion dollars. For small businesses, such fines could bring about the downfall of the company. Contrary to what some may think, many enterprises are susceptible to payroll mistakes, often due to a diverse work environment. Even so, there are plenty of ways to mi...