Don't see your question? Email us at: payrollinfo@stepcoinc.com

Call or email if you have questions about our services

 

Frequently Asked Questions (FAQs)

General Questions

Getting Started Questions

Service Questions

Tax Questions

Don't see your question? Email us at: payrollinfo@stepcoinc.com

General Questions

How will this service help my business?

  • Save money by avoiding the cost of paying for in-house employees and equipment to process your payroll.
  • Save time by not having to manage your own payroll processing.
  • Gain peace of mind by handing off your payroll record-keeping and tax reporting responsibilities.
  • You'll benefit from increased security and confidentiality for your payroll information.
  • You'll eliminate the high costs of cross-training personnel due to turnover and absenteeism.

What are the benefits of using this service?

  • 24/7 access, allows you to fax or emailyour payroll information at your convenience.
  • No hidden fees. Costs are simply a base payroll processing fee based on the number of payroll checks per payroll period.
  • Save time by processing your payroll with us rather than spending your time calculating payroll, paying payroll taxes, calculating benefits, etc.
  • Save on overhead costs of additional staff or equipment to handle your payroll.
  • Avoid tax headaches by having Stephens & Company calculate your taxes, make the tax payments and file the appropriate reports.

Who is Stephens & Company?

Stephens & Company is a professional accounting firm founded in 1969. We have processed payrolls for small to mid-sized businesses, as well as associations with budgets in excess of $15M. Its original founder still manages the day-to-day operations.

How does payroll outsourcing work?

In processing your payroll, we first recreate your company records in our database. Each time you need to run a payroll, you simply place a telephone call, send a fax or email and we process your payroll, add new employees, update your company information, etc. When you submit your payroll, we withdraw funds from your company account, and execute direct deposits or produce paychecks. For employees signed up for direct deposit, we deposit pay into your employee's accounts. We deposit your payroll taxes with the required state and federal agencies, and provide you with complete hard copy reports of everything we do. Each quarter we reconcile these transactions (as required by law), and at the end of the year we submit all necessary tax paperwork and produce W-2s.

Whom do I contact for questions?

If you don't see your question answered in the FAQs, email us at payrollinfo@stepcoinc.com, and we will get back to you promptly. Or, if you prefer to talk with one of our experts, call us at 703.771.1670.

How secure is internet-based payroll transmission?

Stephens & Company takes your privacy and the safety of your transactions very seriously. Our product includes EVERY internet safety protocol available including data encryption, cookies, user authentication, firewalls, and timed logouts.

What if my payroll needs are simple?

We process payroll for any company and will help you process your employer tax obligations. If you are a one-employee company with a once-a-month payroll, we can simply check in with you each month to be sure nothing changes, and process your pay automatically. No software, no training, no internet, and no calling.

What if my payroll needs are complex?

If you need things such as custom reports, ad hoc reporting, or complex payroll calculations, we have the professional expertise to provide the services you need to manage your business. For more information on specific services, email us at payroll info@stepcoinc.com, or contact us at 703.771.1670.

Back to top

Getting Started Questions

How do I sign up for service?

Simply contact us at payrollinfo@stepcoinc.com or 703.771.1670 to request a quote. We will send you a copy of Payroll and Tax Processing Agreement, along with the forms you'll need to submit information about your company and employees. You can also click the "Sign up now" button for more information. Follow the steps to submit information needed, and in most cases we can have you up and running for your next payroll.

What if I am a new company?

The definition of new is very important in answering this question. If you have never processed a payroll, you simply need to send us a copy of your SS-4 response from the IRS and proof of your state employment numbers, and we can get you started right away. If you have paid your employees but haven't made tax deposits, you'll need to work with your CPA or bookkeeper to ensure you have paid the proper amount of payroll taxes before we run your first payroll. Also, if you started your business before the current calendar year quarter, but this is your first payroll, well need to be sure you have still filed a zero tax return for each prior quarter.

What if I just started my business, and I don't have my Federal EIN, or State SUI or other ID numbers yet?

We cannot start you on the service until you have already received a response to your SS-4 (application for your Federal Employer Identification Number). You will need to provide proof you have at least applied for every applicable State SUI and SITW number in which you have employees before we run your first payroll. If you have not done this yet, or are unsure how which ID numbers apply to your business, consult your accountant or one of our accounting professionals at payrollinfo@stepcoinc.com or 703.771.1670. You can also go to our resources page to find tax links to all necessary federal and state payroll tax authorities and learn directly from each agency how to apply.

What if it is the middle of the quarter?

Depending upon your needs, Stephens & Company can get you started at any time. We will work with you to calculate your quarter-to-date liabilities, compare to what you've actually paid, and work with you to reconcile any differences.

How do I get information about my company to Stephens & Company?

Once you register for service by hitting the "Sign up now" button, and send in your signed Payroll and Tax Processing Agreement, we will forward the necessary forms to your listed email address. Once you complete the forms, sign them where required, and fax them back to us for review along with proof of ID & voided checks (to set up direct deposit), we will then create your company in our system.

Back to top

Service Questions

Once I am a client, how do I get help?

Any time you have questions, you only need to contact us via phone, fax or email. You will receive a response within a short time with an answer to your question(s).

How does Direct Deposit (ACH) work?

You provide us with specific account numbers for both your business and your employees. We work with the bank to process the Direct Deposit transactions along with your payroll. This requires two business days between input and check date to process via the Automated Clearing House (ACH) system established under Federal Banking Laws. Stephens & Company adheres to this two-day requirement.

What if I need to void a check?

If you need to void a check, just notify us so we can make the proper adjustments and update your records. We are not responsible for non-documented changes should there be any payroll tax ramifications.

What if I make a mistake when entering my payroll?

We have a built-in batch total screen that allows us to check your payroll totals prior to processing. We will contact you immediately to reconcile any before any final calculations are made. If you have already submitted your payroll data and then catch an error, you can call us to make the corrections for you. If you catch your mistake the same day, we can sometimes even correct it before the financial transactions are processed.

What happens if my company's processing date falls on a holiday?

Your payroll processing will be rescheduled to the previous day.

How are vacation and sick accruals handled?

Stephens & Company will load your established Vacation/Sick Accrual Policy. Simply provide us documentation of your plan and we will load it into your specific company database.

What if my company requires additional general ledger reporting?

If your company requires additional G/L reports, simply produce a detailed description of your requirements, and Stephens & Company will quote your company project fees. As an accounting firm, we can provide you with advice on accounting and income tax issues.

What happens if I have an additional payroll check or need a payroll check written in the middle of a pay period?

You can either write the check yourself or have Stephens & Company prepare the check for you. If you hand-write the check, you can still call us to determine the taxable amounts and perform gross-to-net or net-to-gross calculations for you. IT IS VERY IMPORTANT THAT YOU CORRECTLY ENTER THIS INFORMATION ON YOUR NEXT PAYROLL PERIOD. Your payroll specialist will walk you through this entry.

Can I get customized reports?

If your company requires additional reporting beyond our standard reports, you'll need to produce a detailed description of your information so Stephens & Company can quote your company custom report design fees. We will charge for template development and special requests on a one-time basis only at a nominal rate.

Back to top

Tax Questions

What if I have previous quarter/year tax problems?

Unfortunately, Stephens & Company is not responsible for any tax matter existing prior to the first payroll processing on our service. However, we will work with you to be sure everything is correct moving forward.

How does Stephens & Company know what my taxes are?

During the install process we collect proof of your specific Federal and State ID numbers, from which we work with you to track down your exact tax rates. We are sticklers when it comes to collecting this information, but from this point forth, we accept full liability for the work we do (see Payroll and Tax Processing Agreement for details).

How are employer tax deposits paid?

Stephens & Company offers three options for tax depositing:
1. If you are a current EFTPS depositor, every payroll we electronically debit your payroll liability from your business account. Stephens & Company facilitates the electronic deposits for you when they are due to the IRS.
2. If you are not a current EFTPS depositor, we will attempt to enroll you in the EFTPS program. In the interim, every payroll we will electronically debit your payroll tax liability from your business account and send checks payable to the appropriate taxing agency when they are due.
3. If you prefer to write you own payroll tax checks, we will forward a notice of each tax due (with the amount, payee and date due).

What if I need advice about payroll-related taxes?

Stephens & Company can assist you with tax advice, if you do not have a corporate accountant, and we can guide you to sources that will help answer your questions. Our Web site features tax links to federal and state agencies, and our tax department collects updates from around the nation each week.

Which taxes does your service file?

Our tax filing service makes all Federal calculations and deposits including FITW, Social Security, Medicare, and FUTA. We also make all state deposits including SITW, SUI, and disability (in the states where it is applicable like California). If your state has unusual taxes (e.g., Washington State L&I), at a minimum, we will make all calculations and provide you with a signature ready form. Please contact us if you have particular questions about your state. Sometimes this is necessary simply due to the way a state agency handles a particular tax.

What if I have employees in multiple states?

We process payroll in all 50 states. Your first state is included in your base payroll processing fee. Each state thereafter is subject to an additional charge.

How do you know when to deposit my taxes? What is the Federal Lookback period?

This is one of the most import aspects of what we do for you as a customer on our service. The IRS and State Agencies require payroll tax deposits on a quarterly, monthly, semi-weekly, or next day basis depending upon how much your total payroll was during a 12 month period defined as the Lookback Period. The dates of the Lookback Period are determined by the time of year you are applying for service. To learn more see Publication 15 Circular E, Employers Tax Guide published by the IRS. To download a copy, go to Federal Tax Links on the Stephens & Company Web Site. These agencies require us to review your Lookback Period to determine the proper payroll tax deposit frequencies going forward. To qualify for our tax filing service, we will require 941 quarterly returns that apply to your Lookback Period.

What if I don't have access to my Federal Lookback information?

If you are a new business and have no Lookback Period, all you need is a copy of the IRS response to your SS-4 (application for your EIN) as proof that you started your business. If you completed your SS-4 some time ago, but are paying wages for the first time, you may be required to supply zero tax returns in place of Lookback Period information.

If you are an existing business and know your tax deposit frequency, but do not have access to your Lookback information, we can still get you started on the service, but we may not be able to accept liability for tax deposits.
If you are unsure about any of this information, contact your CPA or see Publication 15 Circular E published by the IRS for the current calendar year.

Back to top