The IRS views failing to pay payroll taxes as the cardinal sin of tax delinquency
because a large portion of the payroll taxes are your employees' withholdings. Not paying your company's payroll taxes
is tantamount to stealing your employees' money in the eyes of the IRS.
The IRS views failing to pay payroll taxes as the cardinal sin of tax delinquency because a large portion of the payroll taxes are your employees' withholdings. Not paying your company's payroll taxes is tantamount to stealing your employees' money in the eyes of the IRS.
As a result, penalties for failing to pay your payroll taxes and filing your payroll tax returns on time are much more severe than other types of penalties. They can drastically multiply the amount you owe in a very short time.
If you are behind on paying payroll taxes for your company, WATCH OUT!!! The IRS is extremely aggressive pursuing collection of this type of tax. They would rather seize your business assets, close you down, sell your assets at auction, and put you out of business than allow you to continue amassing additional payroll tax liabilities.
There are several options available that will help you get your business back in order. We negotiate with the IRS to secure manageable repayment agreements, reduce penalties when applicable, and if you qualify, settle your balance in it's entirety. Each case has its own set of circumstances that must be considered. We are experts when it comes to securing the best solution to your payroll tax problems. Many times, when it comes to payroll tax especially, the IRS will seek to collect as much as possible from you or your business regardless of it's overall impact on your business or personal financial situation. It is important that you have experienced representation to ensure your situation is presented clearly and properly to allow for the best outcome for you financially.
When it comes to payroll tax problems, the IRS does not mess around. If you owe payroll tax as a coporate or partnership entity, they can and will also likely assess you personally for the "employee" portion of the unpaid tax holding you and/or partners personally liable to repay it. It is in your best interest to address payroll tax problems immediately and having experienced representation could be the difference that keeps your doors open and getting your tax and financial problems behind you.
Hiring an IRS representative for your IRS payroll tax problems is 100% fully tax deductible and is also allowed as an expense for IRS financial analysis purposes.
If you are behind on your payroll taxes, DO NOT meet with the IRS on your own. How you answer their initial questions can determine whether you stay in business or not. It is critical you hire a professional representative who knows how the IRS operates.