Do you own a business and have delinquent payroll taxes?
You are not alone!! The payroll tax system is complicated and most small business owners need help.
Delinquent payroll taxes can be one of the most serious tax related issues out there, leading to serious IRS penalties. It’s much more serious than income tax, and employment taxes are always given a higher priority by the IRS and their collections/enforcement departments. As a result, getting expert help quickly and taking care of any payroll related tax debt is a must. Failure to do so could lead to dire consequences for yourself and for your company.
Every business owner with employees knows what a nightmare payroll taxes can be. If your business has back payroll tax issues, you need help immediately! We know the “ins-and-outs” about payroll taxes, and we can help to resolve your IRS payroll tax matters.
All employers are required to withhold and match certain taxes from their employee’s paychecks or wages and are required to send them to the Internal Revenue Service as “Federal Payroll Tax Deposits.” These payroll taxes include the Social Security, Medicare, and Federal Income taxes.
Employers are also required to file certain payroll tax forms with the IRS, namely a Form 941, Employer’s Quarterly Federal Tax Return and a Form 940, the Employer’s Annual Federal Unemployment or FUTA Tax Return. There are similar State Department of Revenue deposits and quarterly filings that are required as well.
If an employer fails to do any of the above — that is, fail to pay its federal payroll taxes and withholdings or to timely file the required Form 941 and 940, they are exposing themselves to serious IRS tax issues.
In some cases, the IRS will even try to collect the tax from the employer personally. The IRS will can also conduct investigations and audits to determine if there are other “responsible parties” from whom to collect the tax — personally!!
The IRS is not shy about “shutting-down” a business that continues to have payroll tax issues.
Whether you’re “in business” or “out of business” we can help!! We have successfully guided employers and business owners through the payroll tax maze, and helped them deal with their unpaid payroll taxes – whether for the open business or personal assessments against individuals!
Ready to Schedule your FREE Strategy Session with Dan?
At Daniel Henn, CPA, PA, we believe that your certified public accountant should inspire comfort and confidence that all of your tax related maters are being resolved. If you need help, Dan offers a FREE Strategy Session to personally evaluate your specific tax situation, obtain all relevant information necessary, and recommend the best course of action for your personal scenario.
Our schedule is very full…but if you call us at (321) 684-7800 or email us we’ll give you two options for coming in right away! We will NOT make dealing with a tax professional as painful as it’s been in the past!