Business Taxes: Payroll Tax Problems

Payroll Tax Problems: Contents

Payroll Tax Issues

It’s hard running a small business these days.  You are trying to keep the business afloat and paying your employees (who depend on you) on time so they can take care of their families.  On top of this, you are responsible for paying payroll taxes and properly withholding amounts from the paychecks you issue. 

In difficult times, you may even forego paying yourself, so you can pay your employees.  And if money is that short, you may have not been able to pay the payroll taxes for that period.  You are not alone.  There are many small businesses out there with payroll tax issues.

But, if you owe payroll taxes, you could be in danger of losing your business.  Penalties for failing to file and pay your payroll taxes are one common reason that small business fail and are forced to close.  If the IRS is unable to recover the payroll tax debt from your business, the IRS may commence legal actions against the officers, directors, and owners of the business.  In some instances, the IRS can even shut down your business completely.  As if that isn’t bad enough, payroll tax liability could turn into a criminal matter, unlike simply owing back income taxes. 

Our team of tax professionals has decades of experience helping small and mid-sized business navigate their employer tax issues while preserving working capital and maintaining enough cash flow to keep their business running.

Payroll Tax Lien

A payroll tax lien is the government’s legal claim against the property of your business.  A payroll tax lien can make it very difficult for your business to secure credit and borrow money or sell its property.  Our team of tax professionals can determine if any payroll tax liens have been filed and negotiate the removal of these tax liens in conjunction with negotiating other tax relief options for your business.

Payroll Tax Levy

A payroll tax levy permits the legal seizure of the property of your business to satisfy a tax debt. The levy permits the government to take the money in your business bank accounts, take the property and assets of the business, and even take the inventory of the business, making it impossible for the business to continue.   Our team of tax professionals knows how to negotiate with tax authorities to obtain a full or partial release of any payroll tax levy that may have been initiated.

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