The Internal Revenue Service (IRS) looks harshly upon employers who owe payroll taxes! It does not matter that the business may have suffered financial losses and was unable to pay it payroll tax obligations.
The federal and state taxing authorities treat the non-payment or late payment of payroll tax liabilities by employers much differently than other taxes you may owe. Employers who withhold payroll taxes from it employees assume a fiduciary duty of the remittance of these taxes on behalf of its employees. It is this reasoning that is applied which provides for special treatment of payroll taxes.
When a Business Fails to File or Pay Its Payroll Taxes
When many businesses start to have financial problems one of the first things that happens is the failure to pay payroll taxes or file its payroll returns on time. This is all too common!
To begin, the IRS will begin by mailing a series of letters reminding taxpayers of the late or delinquent filing of the returns or payroll taxes. Similarly, ridiculously high penalties will begin simultaneously. When the not-so-friendly reminder letters have no response, the IRS will take more serious actions … read more
What to Do When You Have a Payroll Tax Problem
The first, most obvious action you can take is to pay your taxes! As simple as it may seem, the payment of your taxes, or partial payment with an intent to pay your taxes is the best approach.
When you just can’t pay your taxes currently, you may also arrange to pay these taxes over time. The IRS has the power to collect these taxes for a long time and will patiently wait. This is not to say that you can just agree to pay your taxes over whatever time period you wish — the IRS will determine what they believe you can pay and how quickly you can pay it.
The most important point here is you must be proactive. Do not wait for the IRS to come to you! Obtain professional representation, reach out to the IRS, explain the problems you are having, acknowledge your obligation and arrange to pay or settle your account.
How We Can Help You
Professional representation is important in almost any tax matter. The correction of tax deficiencies and obligations requires a significant amount of paperwork and planning. You need people working for you that are knowledgeable of tax law and experienced in working with the IRS.
We can help negotiate reasonable payment terms and conditions that you can live with. In some cases, where it appears you just can’t pay what you owe, we can get your taxes reduced to an amount you can afford.