Many other self-serve payroll services that your CFO might be referring to place the burden on the employer to ensure they are compliant. These companies might only send you an email reminder to pay your taxes along with the amount to pay. If you forget or don't have the money, then you're out of luck and can face hefty government fines, just as your CFO says.
We've built our system to ensure that the employer is 100% compliant. One way we do this is we actually impound all the taxes from the employer and pay the tax agencies ourselves on the employers behalf. We also file all forms on the employers behalf (after getting the necessary authorization to do so).
Hope that clarifies a little bit how we are able to claim the same amount of service/compliance as more expensive options out there!
You're absolutely right.
Many other self-serve payroll services that your CFO might be referring to place the burden on the employer to ensure they are compliant. These companies might only send you an email reminder to pay your taxes along with the amount to pay. If you forget or don't have the money, then you're out of luck and can face hefty government fines, just as your CFO says.
We've built our system to ensure that the employer is 100% compliant. One way we do this is we actually impound all the taxes from the employer and pay the tax agencies ourselves on the employers behalf. We also file all forms on the employers behalf (after getting the necessary authorization to do so).
Hope that clarifies a little bit how we are able to claim the same amount of service/compliance as more expensive options out there!