An very important notice to Colorado employers on the likelihood of increased wage claims and payroll recordkeeping responsibilities for 2015 and beyond. Your PEO partner will be poised to provide concise recordkeeping information should this issue arise. As the worksite employer you face substantial penalties if proper records cannot be produced upon government request.
“New recordkeeping requirements will exist for employers. They must keep and be able to produce to the government on request records reflecting the amounts shown on itemized pay stubs, for at least 3 years. Recordkeeping violations carry a fine of up to $250 per employee per month, to a maximum of $7,500.”