Per the co-employment relationship, ESG submits payroll tax payments to local, state, and federal authorities on your behalf under ESG’s employer identification number. This makes ESG liable for accurate and timely tax payments, protecting you from expensive penalties and interest that result from mistakes and missed deadlines. In essence, we:
- Calculate employee withholdings;
- Administer pre- and post-tax payroll deductions;
- Prepare and submit tax payments including FICA, FUTA, SUTA, and other applicable taxes;
- Assume liability for payroll taxes, reporting, and audits;
- Maintain compliance with changing tax laws;
- Respond to tax agency inquiries;
- Prepare W-2 and W-3 forms; and
- File 940 and 941 reports.
At the end of the day, ESG eliminates the burden of tracking compliance rules, filing methods, reports, and payment methods. Best of all, there are no extra fees to perform any of these functions. It’s all part of the ESG package!