The Lone Oak Payroll Tax Team takes on the task of filing and paying your businesses payroll taxes. Tax filing requirements are constantly changing and new taxes are being rolled out every year. Filing and paying taxes inaccurately or late can lead to large tax penalties - an extra expense no one needs. Not to mention, verifying the accuracy and compliance of tax filings is a burdensome task, usually requiring an in-house expert or consultant. Lone Oak Payroll can be that in-house expert. Our team takes on the burden of filing accurately, making payments, verifying compliance, and corresponding with states as needed.
Services ProvidedWe'll complete the tax payments, returns, research, balancing, reconciliations, and maintenance for you. |
Complete payments, returns, and reconciliations according to regulations. Including:
|
Balance allocation of tax withholding by jurisdiction via various daily, quarterly and annual processes |
File amendments as needed (additional charges may apply) |
Produce and file W2 data to local, state, and federal agencies annually |
Produce and file annual 1099 returns |
Maintain POA (Power of Attorney) where required/applicable |
Maintain Third Party or Bulk access to employer tax accounts* |
Maintain employer specific rates for taxes such as unemployment** |
Maintain employer ID and frequency, typically updated annually** |
Research and resolve tax letters from various agencies |
Tax Types: What we cover and don't coverWe've got federal, state, local, unemployment, and sales tax under control | |
Tax Types We Cover | |
| Withholding - State and Federal | ✔ |
| Unemployment - State and Federal | ✔ |
| City Service Taxes and Fees | ✔ |
| Occupational Privilege Tax | ✔ |
| Paid Family Leave *** | ✔ |
| Workers Compensation *** | ✔ |
| Tax Levies*** | ✔ |
| Use or Sales tax when calculated on wages | ✔ |
Tax Types We Don't Cover | |
| Hawaii Disability | ✖ |
| Nevada Modified Business Tax | ✖ |
| New York Disability | ✖ |
| New York Metropolitan Commuter Transportation Mobility Tax | ✖ |
| New York Paid Family Leave | ✖ |
| Texas Franchise Tax | ✖ |
| Washington Workers Comp (WA L&I) | ✖ |
| Wyoming Workers Comp | ✖ |
| Use or Sales tax when not calculated on wages | ✖ |
| California Environmental Fee | ✖ |
Clients Automatically Enrolled in our Tax Processing ServicesYou'll notice Software Only clients are not automatically enrolled in this service, if that's you, you can always sign up by speaking with your Account Manager. | |
| Payroll Processing | ✔ |
| Funding | ✔ |
| TMS | ✔ |
| Software Only (Hosted) | ✖ |
| Software Only (Self-Hosted) | ✖ |
Requirements to Utilize Tax Processing ServiceWe'll do the 90% if you can help with the 10%. |
| Close week according to standard payroll deadlines Note: Deadline is weekly, Thursday's at 11:00 AM. |
Establish a wire draw.
|
Prior to payments or filings being completed, Lone Oak will require documentation by tax authority:
|
| Register for new accounts with taxation authorities as needed |
| Send new tax account information such as account ID, frequency, rate, etc., to the Tax Team (twtaxes@tempworks.com). |
| Inform the Tax Team (twtaxes@tempworks.com) if you are no longer doing business in a jurisdiction and ensure those accounts are closed with taxation authorities |
| Send the Tax Team (twtaxes@tempworks.com) all notices such as tax rates updates, frequency changes, account status changes, filing/payment issues, etc. |
| Maintain all employee tax setup, worksite and employee addresses to ensure tax liabilities calculate correctly |
*Employer assistance required for certain jurisdictions dependent on TPA/bulk access requirements
**Employers are responsible for making Tax Team aware of employer specific rate, frequency and account changes
***Some exceptions apply and are outlined in the Tax Types Not Covered by Lone Oak Payroll’s Tax Processing Services section below
Related Articles
- None