Payroll Tax Debt

Business Payroll Tax Problems and Help

The IRS and State are very aggressive in their collection attempts for past due payroll taxes. The penalties assessed on delinquent payroll tax deposits or filings can dramatically increase the total amount of back taxes owed in a matter of months. We believe that it is critical to have representation for these types of tax problems.

The most common types of Payroll taxes are 941 taxes and 940 taxes. Most business owners never intend to uses these funds they are holding in Trust for the IRS, but when faced with not making payroll or some other pressing business obligation they feel they have no choice but to use these funds. This is widely considered to be the worst form of back taxes as the IRS considers it “stealing” directly from the government. 

Depending on the variables of the case, the back taxes themselves can usually be negotiated down to a settlement, and the associated penalties and interest abated.  Payroll back taxes are not dischargeable in a bankruptcy, no matter how old the payroll tax liability is. In order to stay in business the owner must find a solution to the liability or the IRS will move quickly to put them out of business.

You should avoid meeting with any IRS or State representatives regarding payroll taxes until you have called Rockwater Associates to discuss your options. What you say in your initial meeting with the IRS could determine whether you stay in business or are liquidated by the IRS.

Call us today for a free payroll tax help consultation at 855-880-1088.  You can also contact us to schedule a free consultation.

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