LIMITATION OF LIABILITY. Payroll Masters is not a licensed insurance broker, agent, CPA or law firm and does not provide professional or legal advice. Payroll Masters assumes no liability for their employer/clients’ employment tax withholding, reporting, payment, and/or filing duties. The employer is ultimately responsible for the deposit and payment of federal tax liabilities, and must ensure that all of its federal employment tax duties are met. Even though the employer may forward the tax amounts to Payroll Masters to make the tax deposits, the employer is the responsible party. If Payroll Masters fails to make the federal tax payments, the IRS may assess penalties and interest on the employer’s account. The employer is liable for all taxes, penalties and interest due. The employer may also be held personally liable for certain unpaid federal taxes.
If there are any issues with an account, the IRS will send correspondence to the employer at the address of record. The IRS strongly suggests that the employer does not change their address of record to that of Payroll Masters as it may significantly limit the employer’s ability to be informed of tax matters involving their business.
Everyone should use EFTPS (Electronic Federal Tax Payment System) and Treasury regulations require electronic payment for payroll taxes over $200,000 in a calendar year. Payroll Masters uses the EFTPS to make federal tax payments and California’s “e-Pay” system to make state tax payments for clients. Employers can confirm that payments are being made on their behalf. Employers should register on the EFTPS system to get their own PIN and use this PIN to periodically verify payments. A red flag should go up if Payroll Masters misses or makes a late payment. When an employer registers on www.eftps.gov they will have on-line access to their payment history for 16 months. In addition, EFTPS allows employers to make any additional tax payments that Payroll Masters is not making on their behalf such as estimated tax payments. To enroll in the State of California’s “E-Pay” system visit www.edd.ca.gov/Payroll_Taxes or call (888) 745-3886.
Payroll Masters’ sole liability to Client or any third party hereunder shall be for claims arising out of errors or omissions in the services provided solely by Payroll Masters, and the sole remedy shall be to furnish a correct advice of deposit, and/or corrected or reversal debit or credit entry, as the case may be; provided that, in each case the Client advises Payroll Masters no later than five business days after the occurrence of such error or omission.
PAYROLL MASTERS MAKES NO WARRANTY, REPRESENTATION OR PROMISE TO CLIENT IN CONNECTION WITH THIS AGREEMENT, AND DISCLAIMS ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING ANY IMPLIED WARRANTIES WITH RESPECT TO THE SERVICES.
IN NO EVENT SHALL PAYROLL MASTERS OR ITS AGENTS BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING LOSS OF ANTICIPATED PROFITS OR OTHER ECONOMIC LOSS, TO CLIENT OR THIRD PERSONS, WHETHER SUCH DAMAGES RESULT FROM PAYROLL MASTERS BREACH OF THIS AGREEMENT, BREACH OF WARRANTY, ITS NEGLIGENCE OR THAT OF ITS AGENTS.