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!

Do You Have Unfiled Tax Returns?

Gain Peace of Mind – No Matter How Late You Are

People fail to file their tax returns for all sorts of reasons. Regardless, failing to file your tax returns is a criminal offense. Citizens who do not file can be prosecuted and punished with potential jail time, one year for each year not filed. Why risk potentially losing your freedom for failing to file your tax returns!
Sometimes the IRS will file returns for you after they have repeatedly requested you file your returns. When the IRS files your returns for you, they are filed in the best interest of the government, usually with little or none of the deductions you are entitled to. You have the right to file an original return no matter how late it is! If you haven’t filed in a few years or many years, we can help, no matter how late your returns are. Let us give you the peace of mind you deserve by helping you get in compliance with the law.

Call us today at (508) 655-1500 to schedule an appointment with one of our licensed tax professionals and soon you will be sleeping like a baby!

Businessman Saves $100,000 Ending Financial Disaster

Art was experiencing cash flow problems in his business. He believed in his heart that things would turn around and that his problem was only temporary. Unfortunately, his cash flow problems only got worse. His business just wasn’t making it. To alleviate this “temporary” cash flow problem, Art started borrowing from the IRS bank (ie. his employees’ payroll withholding taxes). He also neglected to file his payroll tax returns for a year and a half. Reality set in and Art knew he had a BIG problem. The IRS was getting impatient waiting for the returns. It was only a matter of time before things came crashing down on his business. Our firm helped Art prepare and file all his payroll tax returns and a few individual tax returns. Next, we negotiated an Offer In Compromise for both his old individual AND business payroll taxes saving him $100,000. Art was grateful that everything was over. His failed business was behind him and he was given a new lease on life.