The Texas PEO Quarterly Report is a quarterly requirement for Professional Employer Organizations (Pets) registered in the state of Texas. It is a filing that is submitted to the Texas Workforce Commission (TWC). The report provides the TWC with the number of employees that the PEO has on payroll and the amount of wages paid to those employees. It also details the amount of federal and state taxes collected and paid on behalf of the employees. There are two types of Texas PEO Quarterly Reports: the Summary Report and the Detailed Report. The Summary Report includes the total number of employees, total wages, total taxes collected and paid, and the total amount of workers' compensation premiums paid. The Detailed Report includes the same information as the Summary Report, but with a breakdown of the number of employees, wages, taxes, and workers' compensation premiums paid for each of the PEO's clients.
Texas PEO Quarterly Report
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FAQ
PEO services in Texas are governed by the Professional Employer Organization Act. This Act governs Professional Employer Organizations in Texas and is the basis for how the Commission handles Professional Employer Organizations.
The PEO agreement indicates which employment tax withholding, reporting and payment the PEO is responsible for on behalf of the client. PEOs pay client employees and employment taxes with funds from the client, and file employment tax returns for the client using the PEO's EIN.
A PEO is sometimes referred to as an employee leasing organization. The contract between the PEO and the employer will provide that the PEO will perform some or all of the employment tax withholding, reporting and payment activities related to workers performing services for the employer.
A PEO, or professional employer organization, is a type of full-service human resource outsourcing known as co-employment. In this arrangement, the PEO performs various employee administration tasks, such as payroll and benefits administration, on behalf of a business.
When a company engages Servant HR as its PEO, employees sign a Co-Employee Acknowledgement Agreement. This agreement confirms employee understanding that he/she is now an employee of both Servant HR and their worksite employer.
A professional employer organization (PEO) enables small to mid-sized businesses to provide their employees with access to better, more affordable benefits and streamline a lot of administrative HR functions?like payroll, benefits, compliance, and workers' compensation.
A PEO agreement (also known as a PEO client service agreement) is a legal document that precisely spells out who's responsible for what in the co-employer arrangement. In addition to identifying responsibilities of each party, the agreement also defines what employees are covered under the agreement.