I’ve talked about this a lot – taxes are your responsibility. Personal or business, the bottom line is that you are responsible for filing the returns and paying the tax. Using a paid preparer doesn’t get you out of that responsibility.
The IRS has started a new service to help businesses who use a payroll service to file their payroll. Beginning this year, when a payroll service provider enrolls a client in the Electronic Federal Tax Payment System (EFTPS), the IRS will issue the business an EFTPS Inquiry PIN. They will also give businesses that have had activity on their EFTPS account over the prior 12 months an Inquiry PINs. The Inquiry PIN allows the taxpayer access to monitor the EFTPS for transactions made on their behalf.
BTW- EFTPS is an IRS program that allows taxpayers to schedule tax payments online and receive a confirmation number. The program is open to individuals and businesses. An individual can schedule all their estimate payment for the year and not worry about them until the next year. A business can set up their payroll deposits to come out of their bank account on the due date. More info on EFTPS.
The Inquiry PIN will allow taxpayers to check and make sure that their federal tax deposits have been made and catch a problem before it becomes a major issue. They key to using this tool is to use it. Having the Inquiry PIN won’t help if you don’t check your account regularly. You may have the most trustworthy payroll service around but it’s your business on the line and a little due diligence can’t hurt.