Payroll Tax Debt- payroll tax problems, overdue taxes, past due payroll tax, 941 payroll tax
Delinquent or non-payment of the payroll tax by companies is an extremely serious offense. The IRS penalties for oversight multiply quickly, making the amount owed seem insurmountable. Regardless of the reason for neglect, it is critical that companies seek an agreeable solution to stay in business. The IRS can pursue criminal action in these types of cases.
What you need to know:
As an employer, you are required to make quarterly filings and payments - known as 941 payroll tax. The IRS is highly aggressive about collecting unpaid payroll taxes. If the business is unable to pay the payroll taxes, then the IRS will seek payment from the individuals responsible for the business.
The test of individual liability is determined by:
Whether the person was responsible to account for, collect and turn over the payroll tax
Whether the person willfully failed to perform the duty regarding payment
The responsible person is typically in a senior management role, with responsibility for general operations and has a role in determining payment to creditors.
How we can help
Our highest priority is to shield you from further, direct IRS contact. This alone can give you peace of mind regarding a tax issue. The overwhelming burden of financial pressure can be lifted when we work together for your best solution. The steps we take are:
1) Listen and learn about your situation. Initially, we will schedule a complimentary interview to determine the extent of challenges with the IRS.
2) Sign a power of attorney. Allowing a professional to be the authority to represent you before the IRS takes stress off of you and your daily life.
3) Stop the annoying phone calls or notices. Our firm notifies the IRS that we are representing you, which requires the IRS to communicate with and contact us directly. Our focus is to stop any harassment and direct all correspondence through our office.
4) Make a plan. After meeting with you to diagnose the problem, we’ll recommend the best course of action based on our experience and knowledge of the options available. ?