State Information Reporting & Withholding Specialist Certification
Attempting to research state regulatory requirements for State Reporting and Withholding regulations and gain a clear understanding of the laws can be a daunting task for you and your employer – getting CSTATE certified takes you through the process and requirements preparing you with the knowledge you need to comply.
Ongoing education offered by IRS Compliance retains your accreditation and keeps you up to date on the ever changing regulations. With the ever changing and unique State Legislative Regulatory Requirements, the financial risks for any U.S. Organization that is not knowledgeable and the staff and business areas prepared to comply with the varied and complex regulations could face significant financial risks. Additionally, failure to comply presents the possibility that you may be required to make a public disclosure of the areas where your company is not compliant and the associated liability risk for penalties, withholding and interest. State specific Penalty Programs are also varied and could be excessive. Some states have direct filing requirements, mandatory withholding and even backup withholding of state tax.
States are comparing information obtained from the IRS and state penalty programs are enforced. Several states have passed legislation to piggyback on the new IRS laws, further increasing the penalties and financial risks. Ignorance of the state regulations is not an acceptable defense. It is your company’s responsibility to stay educated, knowledgeable and implement any changes or processes necessary to comply.