Let Precise Payroll Take Care Of New Hire Reporting!

In April 28, 2016
On News

It’s ironic but it’s true: hiring new help at your small business can mean a whole lot of work for you! Here’s a quick rundown of what small business owners are required by the IRS to have on file for their employees upon hiring.

IRS form I-9, which proves eligibility to work in the United States of America.
The employee’s Social Security Number.
IRS form W-4, which will let you know how much income tax to withhold from that employee’s wages.

Once you have this information, you will need to report that newly hired employee to a special state agency, as per the Personal Responsibility and Work Opportunity Reconciliation Act of 1996. The Department of Human Health Services Office of Child Support Enforcement can help you find your local state agency and learn about the special process for new hire reporting in your state.

Of course, on top of reporting your new hire to the appropriate state agency, there are several other important tasks that must be performed upon hiring a new employee. For example, many companies wish to (and/or are required to) perform drug testing and background checks on new hires. Payroll must be adjusted to account for a new employee. Various company records may also need to be updated.

Though the tasks outlined above are not overwhelmingly time consuming, they do add up, especially when combined with a slew of other basic human resource functions that many small business owners choose to handle themselves. From hiring to payroll to 401k calculations to tax filing to accountant reports and more–the odds are good that, if you run human resources in-house, they are costing both yourself and your employees some measure of productivity.

That’s where Precise Payroll can help! Every function mentioned above can be outsourced through our experienced and respected payroll/human resource service–either individually or as a package! Contact us today for more information!

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