Any business, large or small, that has employees has to deal with payroll taxes. These withholdings include Social Security, Medicare, and income tax, and the IRS requires employers to collect these taxes from employee wages and deposit them in a timely fashion. Failure to do so can result in major tax problems.
If you owe payroll taxes, the IRS will take action to collect that money. Failure to deposit payroll taxes is a serious offense and can even be considered a federal crime. Anyone involved, including company owners, directors, and others tasked with paying your company’s payroll taxes, can be held personally responsible for paying missing payroll taxes. If the IRS is unable to promptly collect the unpaid payroll taxes, they can even close your business down and sell off the assets to cover the debt!
Don’t let your payroll tax problems get so bad that your company gets shut down. Call in Taxation Solutions, Inc. as soon as you discover that you owe payroll taxes, and our experts will get to work. We have 40 years of experience handling a wide range of personal and business tax problems, and our tax lawyers and other tax resolution specialists can help you resolve your company’s payroll tax issues. Taxation Solutions, Inc. can get to work on the tax settlements required to resolve your payroll tax situation so you can stay focused on what you do best: running your business.
Contact us now to get started with your free initial consultation.