As the owner of the business, you are always going to be the person responsible for all of the taxes collected and owed to the different government agencies. Whether you do them or you have employees do the actual tasks, it is you that the IRS will hold personally responsible in the event that there is some kind of problem with your employment payroll businesses taxes.
With so many different types of taxes that a business owner is responsible for it is not surprising that comes a time that a problem arises and the IRS comes to a calling to you. One of the more frequent issues involves Payroll Taxes and those funds that are withheld from your employee’s paychecks. As the owner, you are responsible for ensuring that happens at the prescribed times.
Call us for a free and confidential evaluation at 1-888-498-2937.
What is meant by Payroll Employment 941 Taxes?
A business is responsible for collecting, reporting and paying to the IRS certain funds for the purpose of covering taxes owed to the IRS from every employee’s paycheck. There is a set schedule when the reporting and paying of the funds should be done and it is the responsibility of the owner of the business that it gets done on time.
There are two separate taxes that are collected together that make up the Payroll Tax that is then reported and sent to the IRS according to a prescribed schedule; Social Security and Medicare. Each tax that is collected is based on the employee’s annual salary and it broke down and spread out over the course of the year.
However, the schedule of reporting and paying to the IRS is set up and scheduled for certain times throughout the year and must be followed to avoid any issues with the IRS.
What is the typical cause of Payroll Tax Debt
As long as you continue to keep up with your taxes your business should never run afoul with the IRS. Unfortunately, if you do not keep a good eye on whether or not everything is going well, you could receive a letter from the IRS stating that there is a problem. By the time you have received the notice you have already incurred a tax debt and you need to find help with Payroll Tax Debt Relief.
Here are four typical causes for Payroll Tax issues
Not checking to see that taxes are being handled properly
Failing to keep accurate and complete payroll records and reporting on time
Not taking notifications from the IRS serious enough
Underestimating the cost of making too many late payments for Payroll Taxes
It is also important to remember; even if you went out and hired a 3rd-party company to handle your bookkeeping duties it is you who the IRS will be sending the notices to when there is a problem. Therefore to avoid the need for Payroll Tax Debt Relief you must be extremely vigilant and keep on top of all employee matters before it becomes a headache for you.
Call us for a free and confidential evaluation at 1-888-498-2937.
How do you go about getting Payroll Tax Debt Relief from your tax problem?
The IRS takes all take tax issues seriously, but when it comes to a business taxes, the Payroll 941 Employment Tax is of special interest for the IRS. So when a business like yours has problems you best not take it lightly. The first thing you should do is look for a good tax defense company that has specific experience with dealing with the IRS and payroll tax debt issues.
The IRS does offer several programs that are designed specifically for helping taxpayers who have been having trouble with their taxes. These programs can be a huge help for business owners who find themselves with Payroll Tax issues. Do not make the problems that you are experiencing with IRS worse by thinking that they will go away.
Your best bet is to look into these programs that the IRS has set up in order to help make it easier for Payroll Tax Debt Relief for any business that is struggling with tax debt. Here are three specific programs that are available from the IRS
Are there companies that specialize in helping with Payroll Tax Debt Relief?
With so many businesses in America, you would like to think that there would be other companies out there that would be in business to help them with this type of issue. You would be 100% correct in your thought. There are actually quite a few more than you might think. Many of these businesses are located all over the countries and are known as Tax Defense companies.
They offer a wide range tax relief services for both businesses and individuals who find themselves in trouble with the IRS. There are many benefits to having our Tax Defense team on your side when you are dealing with one of the most stressful times for your business and for you.
Call us for a free and confidential evaluation at 1-888-498-2937.
