Payroll Taxes

The IRS takes a dim view of failing to pay your payroll taxes. This is because a large portion of the payroll taxes are your employees' withholdings. 

Not paying your company's payroll taxes after withholding from their paychecks is the same thing as stealing your employees' money in the eyes of the IRS.

Accordingly, penalties for failing to pay payroll taxes and proper filing of your payroll tax returns are much more severe than other types of penalties. Penalties and interest can ruthlessly multiply the amount you owe, and in a very short time.

If you have fallen behind on paying your payroll taxes, BE VERY CAREFUL!!! 

The IRS is extremely aggressive in collecting payroll taxes. They would prefer to seize business assets, close you down, sell your assets at auction, and put you out of business rather than allow you to continue building up additional payroll tax liabilities. 

As a matter of fact, the IRS has a technical word for this, PYRAMIDING.  Additionally, the IRS can hold you PERSONALLY RESPONSIBLE and assess a Trust Fund Recovery Penalty on you and your assets, PERSONALLY.

If you are behind on your payroll taxes, DO NOT meet with the IRS on your own. How you answer their initial questions can determine whether you stay in business or not. It is critical you hire a professional representative who knows how the IRS operates.

Get a Free Consultation with Larry Weinstein, CPA our IRS tax authority on how to resolve your payroll tax problems by completing the form below.