Payroll rules and regulations in today's world are complex and constantly changing. With that said, amazingly it isn't always the big ticket items that lead to compliance problems and audits. It could be as simple as the misunderstanding of a wage and hour term such as "regular rate of pay" that can cause massive penalties. Or not knowing that you are responsible for reporting stale payroll checks that can lead to huge fines. Or maybe accounts payable is paying an auto allowance that should be taxable but tax has not been withheld that will lead to IRS audits. The problem is while trying to keep your eyes on the payroll horizon you may fall right into a compliance pit. But that doesn't have to happen. By understanding and knowing what to look for you can avoid the 5 biggest payroll pitfalls and keep on the smooth path.
http://bit.ly/payrollpitfall
