Anchor Payroll Blog

Stay on Top of Payroll Regulatory Changes

Managing payroll compliance involves much more than just issuing paychecks. It includes following wage laws, calculating taxes correctly, managing overtime, and handling benefits according to regulations. When compliance is managed effectively, it helps avoid costly penalties, strengthens employee confidence, and supports overall business efficiency.

So, what's the big deal? Misclassification is considered wage theft, whether you knowingly or accidentally misclassify employees. It could put your business at risk of an IRS audit for back taxes, severance and health care coverage for misclassified workers, in addition to legal fees, reputation damage, and even criminal and civil penalties.