{"id":2816,"date":"2022-09-13T00:40:46","date_gmt":"2022-09-13T04:40:46","guid":{"rendered":"https:\/\/totaltaxresolution.com\/?page_id=2816"},"modified":"2022-11-18T01:22:52","modified_gmt":"2022-11-18T06:22:52","slug":"payroll-taxes-2","status":"publish","type":"page","link":"https:\/\/totaltaxresolution.com\/payroll-taxes-2\/","title":{"rendered":"Payroll Taxes"},"content":{"rendered":"\t\t
Your business is doing well, but sometimes you run out of cash and cannot make payroll tax deposits on time. Perhaps you simply got busy and missed filing your quarterly payroll tax returns.No matter what the reason, you\u2019re behind on your payroll tax filings or payments. <\/p>
It might seem like you\u2019re borrowing money from the IRS until your business is back on track, but the IRS does not see it that way. Late payroll taxes are taken more seriously by the IRS than just about anything else because they are used to pay Social Security taxes. <\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
Taking payroll taxes late is like stealing money from the government, and that\u2019s why the IRS has put some teeth into its enforcement. Act quickly if you want to maximize the effectiveness of your tax representation.<\/span><\/p> Penalties can add up quickly. You\u2019ll have to pay a late filing penalty, a Trust Fund Recovery Penalty, plus interest on late taxes. Having back payroll taxes to pay can put you in a tight spot really fast. Additionally, carrying such a burden drains your peace of mind.<\/span><\/p> An IRS letter, state tax agency letter, or local entity letter will be sent in these cases:<\/span><\/p> Please note: You will never receive an email from the IRS regarding any of the above situations. All of their correspondence is sent by physical mail. It’s a scam if you get an email.\u00a0<\/span><\/em><\/p> When you fail to respond to the IRS\u2019s initial letters, the IRS and others can levy, garnish, and seize your property to collect the payment. This is not something you want to happen.<\/span><\/p> If you are struggling with payroll taxes, hiring a tax professional would be a great idea. They can assist you in the following ways:<\/span><\/p> A company that failed to file payroll tax returns or pays payroll taxes on time may designate you as a \u201cresponsible person.\u201d Don\u2019t ignore this correspondence! <\/p> Tax authorities aggressively pursue anyone who owes payroll taxes, regardless of whether you own the business. The IRS can hold you responsible for not paying payroll taxes if you have a particular relationship with the business. This case is one in which you are presumed guilty until proven innocent. <\/p> The right thing to do is to hire a tax representation professional who will be able to argue your case to get your \u201cresponsible person\u201d status removed.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t Our team can provide you with advice on the payroll tax options that are available to you at no cost to you. Please contact us at no obligation to you so we can understand your specific payroll tax situation. Keeping your tax information confidential and private is our top priority. <\/p>Responsible Person<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Solutions for Your Payroll Tax Challenges<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t