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      Payroll Services - Business Closing

      The below article address key information related to FINSYNC's Payroll Services & Fees for when a business is closing.

      Anytime a business that is using FINSYNC's Payroll Services is closing business, FINYSNC will need to gather pertinent information/fees that will be crucial for tax reporting and filings for the business. 

      At the time of the reported closure (profile cancelation): 

      1. FINSYNC will assess fees for all of the following, required items. Note - the fees will be collected at the time of the notice that is given to ensure no difficulties are encountered later:

      • $125 per remaining quarter of the year. FINSYNC will file $0 for all remaining quarters of the year. It is common for states to require that the account stay open until the year end in order to file all items including W2s.

      • All fees related to filing, reporting and creating W2s will also be assessed. This amount will depend on the volume of items.