Payroll Tax Trouble? What You Need To Know

Business owners beware! Fall behind on filing or paying your payroll taxes and you will discover that the IRS is suddenly very interested in talking to you…and it doesn’t promise to be a pleasant conversation!

Payroll taxes include your employee’s tax withholdings — their tax obligation – which makes your failure to pay tantamount to stealing in the eyes of the IRS. Enforcement is swift and penalties are far more severe.

It is not at all uncommon for business owners to lose assets – bank accounts, equipment, even buildings – as the IRS seizes them to settle debt.

Could you stay in business if this happened to you? Many business owners can’t: losing significant assets to the IRS has forced more than one owner to shut the doors – permanently. What happens to your family then? What happens to your employees? Can they afford to lose their jobs any more than you can afford to lose everything?

Exercise extreme caution if you’re contacted by the IRS about delinquent payroll taxes. Remember, they have absolutely no interest in making sure that your business stays open! You have to be prepared to protect your business! Get the help you need to resolve payroll tax problems!