Dealing with Your Payroll Tax Problems
59Are you a businessman who has been unable to pay your payroll taxes? Has the IRS served you notices about non-receipt of your 941 payroll returns? Did you file payroll taxes late because you didn't have the money to pay it?
It's a common practice for businesses having financial issues to submit payroll returns late or to refrain from settling payroll taxes. When you fail to submit payroll taxes, what you are technically doing is taking your employees' hard-earned money to settle your other debts. This is not a good idea when your business is having problems. You are simply making more problems for you and also adding IRS issues to your list.
Failing to Pay Payroll Taxes
Your business' cash flow problems will increase if you fail to submit payroll taxes by the deadline since penalties and interest are accruing on your tax bill.
Failing to File Payroll Returns
If you fail to file payroll returns by the deadline, interest is compounding on your tax liability and the IRS can increase the penalties from five per cent to 25% each month. Call us if you've gotten notice about your payroll tax issue. Do not dismiss this issue because it'll just get worse. Business owners with payroll tax problems are subject to enforced collection from the IRS. This means the IRS can levy the business� accounts receivables, automobiles, equipment, and bank account(s). The IRS could even put you out of business.
What's Next?
If found that the non-payment or late submission of payroll taxes was your doing, you will be paying a Trust Fund Recovery Penalty that includes payroll taxes and accrued penalties and interest.
Options
You'll need help. You should understand your rights, and find out if the IRS assessed the right amount, if you can qualify for an installment agreement or Offer in Compromise, or if assets will be seized.
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Contact Us
Please feel free to contact us at getirshelp.com or by all means call us tollfree at (888) GETMISH 438-6474 We're here to help with all of your problems with the IRS! It's not your fault so call us now!
Our Mailing Address: P.O. Box 3414,Tampa, FL 33601
Our Physical Address: 100 S. Edison Avenue, Ste. A, Tampa, FL 33606
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