Tax Relief Blog
Help with IRS Payroll Tax Problems
If you own or manage a business (sole proprietor, partnership, or corporation) and pay employees, you will have to deal with 941 and 940 payroll taxes (employment taxes). Social Security, Medicare and income tax withholding from employee paychecks is just part of normal business operations. If you fail to file and pay your 941 payroll taxes then you are guaranteed to get in trouble with the IRS and the other state agencies such as EDD. This usually leads to additional stiff IRS penalties and larger tax debt, and may also be considered by the IRS a federal crime.
IRS penalties assessed on unpaid and delinquent payroll tax debt or tax filings can significantly increase the tax amount owed in just a matter of few months. If you ignore your payroll tax problems and don’t take quick action to resolve the tax liability, you will soon find yourself out of business.
IRS payroll problems can be the downfall of many successful businesses in all type of industries. In today’s tough economic climate, there are many businesses that still utilize the proceeds collected from their employees’ payroll taxes to pay their operating expenses instead of remitting payroll taxes to the US treasury. This can get you in serious trouble with the IRS very quickly. The dollars collected from your employees to pay their share of federal withheld taxes, FICA and Medicare (Social Security) does not belong to you, the business, and must be accounted for and paid to the US treasury. Generally, you must make a federal tax deposit (by tax filing service, phone, or in person at a bank) three days after the pay date of the payroll checks. If you didn’t make these payments, you will soon hear from the IRS.
Further on payroll tax problems, if the IRS can’t get paid from the business, they will start action against officers, directors, owners and others involved and hold them personally and individually responsible for the unpaid 941 payroll taxes, plus penalties and interest.
Don’t wait for the IRS to shut down your business and sell your assets. We can help you find a solution to your payroll tax problems.
We have helped businesses of all sizes resolve their unpaid payroll tax debt problems and the continuation of their business. We also understand that business owners need cash flow and working capital to keep their businesses up and running. Our goal is to resolve your employment and payroll tax issues so that you can move on with what you do best, running your business operations.
Call us today at 877-788-2937.
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We provide payroll tax problem resolution in all 50 states including Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming.
