On this screen you will enter your business’s Federal Taxation Information. Below is a screenshot that captures the setup of this page and some general tips about how the setup is completed. Please keep in mind that UZIO is a payroll technology vendor and cannot give you tax advice, so please ensure your setup is vetted with an accountant or tax specialist based on your companies’ requirements.
- To determine your Federal Deposit schedule, there are two deposit schedules, Monthly and Semi-weekly. You must determine which of the two deposit schedules you are required to use. To determine your payment schedule, review Publication 15 for 941, 944 and 945 filers. For 943 filers, review Publication 51. If you incorrectly choose a Monthly deposit schedule when your company is in fact a Semi-Weekly filer, that will cause UZIO to file a late federal deposit of which you may be subject to a failure-to-deposit penalty of up to 15 percent. Therefore, it is critical to correctly determine whether you are a Semi-weekly or Monthly
- In the rare instance your company is exempt from federal taxes, UZIO requires an official “Affirmation Letter” from the Internal Revenue Service. If you have this affirmation letter, please email it to Tax@Uzio.com. If you need to obtain an affirmation letter, you must contact the IRS at Customer Account Services by phone, letter, or fax to request an “Affirmation Letter”.
A letter or fax requesting an affirmation letter must include your organization’s -
- Full Name
- Employer Identification Number and
- Authorized Signature (an officer or trustee)
The individual signing the letter must state the capacity in which he or she is signing (for example, “John Smith, President”)
Why is This Important?
It is critical this area is completed with 100% accuracy. An error in this screen will adversely affect your tax payments which will create serious compliance issues with the IRS resulting in notices and penalties. If there are any questions in this area, you must ask your accountant. UZIO cannot provide tax advice and does not know your arrangement with the IRS so please consult your accountant if you are unsure about any settings in this area.