HarryR
May 18, 2008, 11:29 AM
I've been asked by one of my clients to start handling their payroll services for their employees? I checked and don't appear to need a license in Michigan. I've also called the IRS and the Department of Labor & Economic Development to seek more advise to ensure accuracy in this area. However... my questions were not completely answered.
My questions are:
1.) Should I obtain a bond or possible insurance to protect me & my business? I'm concerned for "possible" penalities from the IRS?
2.) Would a bond or insurance cover me against financial penalties?
My goal is to be compliant in all areas and also show due diligence regarding payroll services.
Thank you!
My questions are:
1.) Should I obtain a bond or possible insurance to protect me & my business? I'm concerned for "possible" penalities from the IRS?
2.) Would a bond or insurance cover me against financial penalties?
My goal is to be compliant in all areas and also show due diligence regarding payroll services.
Thank you!