OS Success Stories
OS Payroll Consulting serves a broad array of clients with any employment tax or payroll processing issue they may encounter. With 17 years of experience in payroll processing, accounting, and consulting, OS Payroll Consulting is ready to assist any size company with their payroll-related matter.
Sole proprietorships, venture capital firms, and large multinational employers have all utilized OS Payroll Consulting. Audit representation, systems implementation, executive compensation, and payroll compliance are all areas that we can assist. We perform services throughout the United States, dealing with both federal and state employment taxes.
Penalty Abatements
We have a success rate exceeding 90% with penalty abatements for both federal and state employment taxes. We have dealt with the IRS on a penalty of $250,000 for W2 filing discrepancies and succeeded in having the penalty waiver after providing one ‘good cause’ letter.
Audit Representation
Audit Representation: We handle independent contractor audits as well as payroll tax audits. In a recent audit by the State of CA for independent contractor issues, one client received a letter from the auditor stating that the case was closed with no discrepancies found to exist. The company had booked a potential liability for what they believed to be their outstanding exposure in an amount in excess of $200k.
Payroll Reconcilliations
A 2,000 employee company found that they had erroneously reported employees under an incorrect subsidiary. OS Payroll Consulting was hired to prepare amended returns, federal and state, to remove the employees from the entity under which they were reported and to file the returns for the account they should have been reported on. Upon filing the returns, penalty abatements were then sought and granted by the IRS and by the states for the late filing on the correct accounts.
Internal Control Reviews
Many companies seek proactive reviews of their payroll departments to insure compliance with federal and state guidelines. A large retailer, not subject to Sarbanes Oxley, decided to conduct their own internal review of all accounting functions. They had no internal expertise to conduct a review of the payroll department. They contacted OS Payroll Consulting and the review was performed on budget and ahead of schedule.