Businesses are required to withhold federal income taxes, and the employee's portion of social security, and Medicare taxes, and remit those, along with the employer's share of payroll taxes to the IRS. Failure to do so incurs huge penalties, and individual liability for the person responsible for not remitting the taxes.
The penalties for failing to timely file and failing to fully pay the payroll taxes results in enormous penalties to the employer. The penalties and interest are so egregious that they will double to triple the payroll taxes in three to seven years.
If you start falling behind in your payroll taxes to the IRS, please contact this tax law firm as soon as possible, so we can get you back on track, and hold the IRS revenue officer at bay. The IRS will quickly come collecting unpaid payroll tax deposits, and they will lien, levy, and seize your business all in an effort to prevent pyramiding future payroll taxes.
This tax law firm will help you in this difficult period of time. We are one of the few firms that have both an accounting and bookkeeping division, and also a legal and tax division to help you with the payroll taxes, and the problem issues.
Even though the payroll tax debt is a liability of the business, the IRS can hold the responsible party who willfully failed to pay the payroll taxes individually and personally responsible for the trust fund portion of those taxes. This not only includes the business owner, but also includes the president, officers, directors, shareholders, managers, CFO, accounting, and bookkeeping employees if they made the decision as to which creditors got paid. This tax law firm will proactively obtain all the corporate formation documents, accounting and financial records, and minutes to show that you are not the responsible party who willfully failed to pay the payroll taxes, and therefore are not individually liable for the business's payroll tax debt.
This tax law firm will defend your rights against the IRS when they try to collect these funds from you. We have an excellent reputation in the community for aggressively representing our clients before the tax agencies, and obtaining an excellent result for our clients. Please give us a call at 858-481-4844 to discuss your tax case.
The call is protected by the attorney-client privilege, and will never be disclosed to the IRS. We look forward to hearing from you.