Patriot Software's Blog

Why Payroll Is the Stickiest Service an Accounting Firm Can Offer

Key Takeaways − Payroll is “sticky” because it’s essential, recurring, and hard for clients to switch away from. Accountants see client data each pay period, not just at year-end, which encourages a year-round relationship. Payroll opens the door to deeper advisory work, bookkeeping, and tax services. White-label payroll software helps accountants grow revenue without building […]

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The Trust Fund Recovery Penalty: Personal Liability for Late Payroll Taxes

Key Takeaways − The Trust Fund Recovery Penalty (TFRP) lets the IRS hold individuals personally liable when a business fails to pay certain payroll taxes. “Trust fund taxes” are the federal income, Social Security, and Medicare taxes you withhold from employees’ paychecks. If you don’t deposit or pay these taxes, the IRS can come after […]

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How to Request an Abatement of Payroll Tax Penalties from the IRS

Key Takeaways − If you file or pay payroll taxes late, the IRS can charge costly penalties and interest. You may be able to get penalties reduced or removed (abated) if you qualify for First-Time Abatement (FTA), or can show reasonable cause (e.g., serious illness, natural disaster, records destroyed). To request abatement, you usually: confirm […]

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Restaurant Payroll, Simplified: The Best Payroll Process for Restaurants

Quick Answer: To run restaurant payroll, collect timesheets and tip reports, calculate gross pay (including overtime, multiple rates, and tips), apply withholdings and employer taxes, and pay employees on a compliant schedule. For tips, require monthly reporting (at least $20 in tips) and withhold FICA and income tax; consider the FICA tip credit (Section 45B). […]

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