The Ins-And-Outs of IRS Payroll Tax
Every business entity, whether it employs one or one hundred plus workers, is responsible for filing a quarterly IRS payroll tax report. Failure to comply will result in a serious payroll tax problem. If the business were to fall behind and fail to make any payments at all, they will encounter fines and penalties from the IRS. These IRS fines and penalties will increase monthly by 5% or more. If you are having a payroll tax problem, it is imperative to hire an IRS tax attorney to determine the best solution and help with your employer payroll taxes.
Your Rights to Contest Liability
If you do not address the problem of your IRS payroll taxes, you will eventually lose your ability to question or contest the amounts you owe. When you find yourself having a employer payroll tax problem, the IRS tax attorney will advise you of your rights and responsibilities as a taxpayer. It is a wise idea to put your employer payroll taxes into the capable hands of a IRS tax attorney for resolution. If you wait too long to address the payroll tax problem, the IRS will begin adverse action. This may come in the form of seizing your of assets forcing you to lose your business. Ignoring a employer payroll taxes is never an answer. The longer you delay, the more serious it becomes.
Do Not Attempt to Resolve Payroll Tax Problems Alone
IRS payroll tax problems are not something you want to try and handle on your own. The IRS is adept at intimidation. IRS revenue officers are very aggressive and can be threatening. Trying to handle a payroll tax problem on your own can be likened to financial suicide. If you attempt to do this by yourself, you are not going to be able to protect your interests as well as a tax professional can. Your business and livelihood depend on your skill and abilities to be able to understand and apply strict IRS tax laws and codes. If you don’t understand how the process works, you need the services of a tax attorney.
Negotiating with the IRS
The IRS is not interested in hearing any excuses why you are not able to pay your business IRS payroll tax. They want action and they want to collect the debt as quickly as possible. Rest assured that you will be held accountable on a personal level for any employer payroll tax problem that arises. You need someone on your side that will advocate on your behalf with the IRS.
Businesses that do not pay their quarterly IRS payroll tax, whatever the reason, will be facing an overwhelming payroll tax problem. If you don’t seek payroll tax help, your tax debt problems will compound. You can be facing possible IRS tax liens, seizure of personal and business assets, and you can even be convicted of tax fraud if the problem gets to that point. You do not have to put yourself at financial risk. There are tax attorneys who can help.
If you are facing IRS actions from failure to pay your IRS payroll taxes, you need the expertise of a IRS tax attorney to negotiate a tax settlement of your employer payroll taxes.