Tax administration can be a complicated topic, to say the least. As such, we decided to take an opportunity and concentrate on some of the highlights, as well as provide an overview by state. We hope that this brief overview of PEO reporting and tax administration helps to answer many of the questions that you may have in this ever changing world.
Withholding, FICA, OASDI and Unemployment
Reported and paid under VenSure’s account number.
State tax administration is not quite as cut and dry as Federal taxes are. Each state falls in one of a few categories for VenSure clients: PEO reporting, Client reporting or hybrid reporting.
Reported and paid under VenSure’s account number and rate.
Reported and paid under the Client’s account number and rate.
Reported and paid under the Client’s account number with VenSure’s rate. Most states will require additional forms to be completed to transition to this reporting type, please refer to the overview by state for the forms/links.
It is very important to note, VenSure requires online access to client’s accounts for any Client or hybrid reporting states. Clients are to provide a log in or agent authorization access to be processed in order to pay and file their taxes.
To Set Up Online Access
Review the overview by state and follow the instructions provided by the state. If you need assistance logging in or setting up a new account, please contact the corresponding state.
Copies of Tax Returns
Federal and PEO Reporting States
Since the taxes are filed under VenSure’s account number, all clients are combined into one tax return. Because of this, we are unable to supply individual returns; however, we ARE able to provide a system generated report showing the tax liability by client. Please send an email request to email@example.com, and we will forward a copy to you.
Client and Hybrid Reporting States
These returns are filed under your individual account numbers, therefore, you are able to pull copies of tax returns and payment information by logging into your state unemployment account online.
As always, should you have additional questions regarding this subject, please feel free to contact us at firstname.lastname@example.org.