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You only have eight days left to meet the Employer Annual Reconciliation period deadline

by , 21 May 2014
The Employer Annual Reconciliation period deadline of 30 May is fast approaching.

You only have eight working days to submit your Employer Reconciliation Declaration (EMP501) and Employee Tax Certificates (IRP5s) for the period of 1 March 2013 to 28 February 2014.

If you don't submit your Recon before the May 30th deadline, you'll incur harsh SARS penalties.

Are you prepared to take that risk?

Here are two important pointers that'll help you meet next week's deadline.

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Avoid 200% tax penalty 

Find out how to avoid penalties of up to 200% today

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Two important points to help you meet the Employer Annual Reconciliation period deadline
 

#1: Go the SARS' website to download the e@syFile™ Employer software. This software will help you make your submission without hassles.

Then, import the electronic IRP5 files in CSV format from your current payroll system into e@syFile™ Employer.

#2: SARS doesn't tolerate errors when it comes to your EMP501 and IRP5s. So double check things like your employee's postal address so you don't get in trouble.

Warning! If you fail to submit your Employer Reconciliation Declaration (EMP501) and Employee Tax Certificates (IRP5s), on or before the 30th, there are consequences…

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Failure to meet the Employer Annual Reconciliation period deadline will result in penalties
 

In this article, our experts warned that 'legislation empowers SARS to impose penalties for failure to submit, late or inaccurate submissions, or reconciliations which don't balance.'

Don't take that risk. Make sure you submit your Employer Reconciliation Declaration (EMP501) and Employee Tax Certificates (IRP5s) before the May 30th deadline that's just eight days away.

If you have questions on how to submit your Employer Reconciliation Declaration (EMP501) and Employee Tax Certificates (IRP5s) to SARS, feel free to ask our experts on www.accountingandtaxclub.co.za. They'll tell you everything you need to know so you can meet the upcoming deadline.



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