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Bronze AHA Award Winner in Enterprise Risk Management

PAYCHEX INC.

By Staff Writer | Updated on November 03, 2008

Incurring penalties and interest because of missed deadlines on federal, state and local taxes that slip through the cracks is painful, particularly so for Paychex Inc., which serves the tax payment needs of more than 500,000 small businesses.

The company’s Taxpay tax filing product is designed to collect funds from clients each time payroll is processed to cover their tax liabilities. It then holds the monies until the date the payments are due to respective agencies–nearly $90 million this past fiscal year in the aggregate.

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