Why Your Payroll Service Should Have a Fidelity Bond
Updated April 9, 2021
Smart business owners want to minimize hassles, save money, and increase their productivity. How do you do that? Outsource the time-intensive tasks like payroll, but make sure it’s with a reputable company like Pacific Payroll Group that’s not just insured, but bonded.
What Is A Fidelity or Dishonesty Bond?
If a payroll provider has a fidelity bond or dishonesty bond, it helps cover you (the business owner) should the money ever go to the wrong person or entity. For example, you are protected if the wrong amounts are paid to the IRS or not paid at all.
There is no legal or state requirement that a payroll company be bonded.
Even if you hire a payroll company to make tax payments on your behalf, the IRS states that “In the event of default by a third party, the employer remains responsible for the deposit of the federal tax liabilities and timely filing of returns.”
So, always make sure you feel comfortable with the payroll company you choose to work with, and check that they are bonded.
There’s been a lot of coverage of the MyPayrollHR CEO arrest and other payroll / employment tax schemes. It’s given us a better opportunity to provide the security and peace of mind to employers when they’re choosing a company for their small business payroll processing.
Feel Comfortable And Secure In Your Payroll Provider
In addition to our fidelity bond, we have an extensive system of internal checks and balances which enables us to adhere to the strictest regulatory standards.
We’re proud of our Midwestern wholesome values – our reputation is important to us. Our employees are part of that trust. We employ background checks and ongoing education to make sure our clients receive the highest level of care. Our brand represents integrity and we have strong ties to the local community.
We help to inform our clients on how to verify and check State and IRS tax payments once per quarter. And most importantly, we care about our clients and they become part of the Pacific Payroll family.
It can be a big step for business owners to outsource their payroll services and tax reporting. We’re here to earn the loyalty of our clients and put owners at ease knowing they made the right decision.
Our company keeps growing because of our new and long-time, faithful clients and many referrals.
Pacific Payroll Group Is Bonded and Insured
“The bond provides security that the payroll processor will operate according to the applicable laws and pay the taxes payable to the licensing jurisdiction for the employers they service.“
Pacific Payroll is proud of our fidelity bond – it’s just one of the many ways we continue to be of service. We’re happy to handle payroll and all related payroll tax responsibilities (for both employees and independent contractors).
We have unmatched customer service and respond to calls and emails quickly.
We use industry-leading security best practices to keep your data secure, have mobile-friendly software, and provide online employee access.
You can submit hours however you want and of course we offer everything to make life hassle-free including direct deposit, new-hire reports, time tracking, Workers’ comp, payroll cards, labor posters, and detailed payroll reports, to name a few.
We work hard to make your work-life much easier.
Contact us if you’d like a free quote or to ask questions about your business.
Like reading amazing blogs? Check out our related post on how we Trust But Verify new customers.