Tax Impound 

Taxes are prepared and filed by Paysmart. Total tax liability per payroll is drafted on the payroll check date. Payroll taxes are remitted from the Paysmart Impound account on tax due dates.

Advantages

• Cash flow is equally distributed across the year.
• As payroll increases or decreases so does the tax liability, more closely matching cash flow.
• There is only one tax transaction to account for per payroll.
• There aren’t any large quarterly tax payments.