Small Business Owner: Owe Payroll Taxes? Here’s What To Do.

 

Unpaid payroll taxes are a serious matter to the IRS and are some of the worst kind of back taxes you can owe. If you’re a small business owner with a payroll tax problem, read on to learn what you can do to avoid the IRS crippling your business or worse, shut your business down completely.

 

Already in payroll tax trouble? Contact us to schedule a free, no-obligation consultation and let’s get your payroll tax issue resolved. Ecton Law Firm, PA (803-771-9800 SC or 980-677-1099 NC).

 

Why Small Business Owners Get Into Payroll Tax Trouble In The First Place

It’s hard being a small business owner today, trying to pay your employees their paychecks every week, and pay the IRS all those payroll taxes!

 

A lot of times when money is short, you pay the employees first.  It’s a natural thing to do—you need to take care of your employees, even if you have to skip paying yourself!  Besides, if you don’t pay them, they’ll quit and you will have to hire new people all the time.

 

It can seem easy to “just pay the 941 taxes next pay period” and give yourself a little cash flow cushion, but skipping paying your employees payroll tax deposits is never a good idea.

 

What happens too often is 1 pay period turns into 2, and 3, and 4, and eventually you’re so deep in payroll tax debt that the only thing you want to do is completely ignore your problem.

 

Except the IRS doesn’t care about your financial problems. They just want you to pay your payroll taxes!

 

The IRS doesn’t care if you can’t pay your employees.  They don’t care if they put your employees out on the street. They don’t care if you can’t collect your receivables.  They don’t care if one of your largest and best customers just went “belly-up”. All they care about is you have money that belongs to them and they will do whatever they have to, even put you out of business, to collect it. They don’t care who you are, or even what business you are in.

 

Penalties are The Kiss Of Death When It Comes To Back Payroll Taxes

 

Penalties for failing to file and pay your payroll taxes are the “kiss of death” for any small business owner. They tack on penalties totaling 33% in just the first 16 days! And it doesn’t stop there.  The IRS adds interest on top of the penalties too. It is not uncommon that a payroll tax liability doubles in short order. And if you don’t pay them or work something out, they will shut you down!  It’s much less work for the Revenue Officer, as most are lazy, to simply close you down than work out an arrangement with you.

 

They IRS Will Collect Or They Will Shut You Down

 

It’s as simple as that.  The IRS is the most brutal collection agency on the planet.  They have more authority than the President of the United States! And they have all the ways and means to do whatever it takes to collect what’s owed to them.  You didn’t wake up in the morning, go to work, and say to yourself, I’m not paying my payroll taxes because you didn’t want to. The money simply wasn’t there.  It’s not your fault.  One week you’re short of cash.  It was a slow week, a customer’s check bounced, or any number of legitimate reasons that just prevent you from paying the IRS.  You’re a good person.  You figure you will make it up the next week.  But then next week comes and goes, and you realize you still don’t have enough money to make that payroll tax deposit.  And then the entire situation starts “snow-balling” into an avalanche.

 

Should You Call The IRS To Get Your Payroll Issue Fixed?

 

If you were to call the IRS, and were able to get through after waiting on “hold” for an hour or two, and try to explain your situation—you might as well have a conversation with the wall—because they don’t care.  The IRS representative that you’re talking to probably makes less than $20 an hour, and is poorly trained.  Do you think they ever had to make a payroll in their life? Do you think they know what it’s like running a small business? Do you really think they will have any sympathy for you?

 

Not only is the answer “NO” but they can also dictate the fate of your case. What they will try to get, while you’re on the phone, is all your personal and financial information.  They want to know where you bank; they’ll want to know all about your customers who owe you money, they’ll want to know about the value of all your assets, like your home, cars, motorcycles, etc. Why? Because now they have all the information they need to levy your bank accounts, take your receivables and seize your property.

 

Now that you know you shouldn’t be talking to the IRS because they are not going to help you, you might be wondering what you should do?  Where should you turn for help?  They smartest thing you can do to protect your business and family is to have someone represent you—someone who deals with the IRS for a living. You need to get help—but not just from anyone—you need help from someone who is an experienced competent professional, and deals with the IRS every day, helping small business owners keep their businesses and settle IRS payroll tax problems.

 

If you were charged with a serious misdemeanor or felony, would you go to court without a lawyer? You don’t want to represent yourself before the IRS either. You need professional, expert representation.

 

Reach out to our firm and we’ll schedule a no-obligation confidential consultation to explain your options to permanently resolve your tax problem Ecton Law Firm, PA (803-771-9800 SC or 980-677-1099 NC). Our expert tax resolution professionals know how to navigate the IRS maze.

 

Once you decide to retain us, we step into your shoes and protect you from the IRS’s abusive tactics. We take over all communications from the IRS on your behalf. You don’t have to speak with the IRS anymore. We do.  Not only that—they are not allowed to talk to you once you’ve signed our Power of Attorney!  Once they realize you have someone on your side protecting you, who knows their tricks as well as they do, they have to step back and follow the law.  Not only can we protect you from the IRS harassing you, calling you, and showing up at your front door, we can get those penalties reduced and in some cases completely removed!

 

Contact us now and lets get your payroll tax issue resolved! Ecton Law Firm, PA (803-771-9800 SC or 980-677-1099 NC).

Share :

Related Post

Pros & Cons of Using Tax Resolution Service

Owe Back Taxes to the IRS? The Pros and Cons of Using a Tax Resolution Service   Three...

Read More

4 Things Your Tax Preparer Won’t Tell You (and How It Can Get You In Tax Trouble)

Tax time will be here (again) before you know it. If your tax return is a simple one,...

Read More

5 Common Tax Filing Mistakes

Avoid These 5 Common Tax Filing Mistakes That Can Get You In Tax Trouble Whether you file the...

Read More

Forgiven Debt? You may owe taxes!

Did You Know You Might Owe Taxes On Debt That's Forgiven? Here’s How It Works.   When you...

Read More

Filing Your Taxes When You Know You’ll Owe Money to The IRS

As we wrap up the year the last thing most people are thinking about is their taxes. But...

Read More

Tips to Reduce Identity Theft

7 Tips to Reduce Your Chances of Falling Victim to Tax Identity Theft   Tax identity theft occurs...

Read More

Steps to Prepare for Tax Season and Avoid Tax Trouble

3 Essential Steps To Prepare for Tax Season and Avoid Tax Trouble   Taxes are one of those...

Read More

Recordkeeping Tips for Freelancers and Gig Workers So You Can Avoid Getting in Tax Trouble

If you are working as a freelancer or gig worker, you are certainly not alone. Millions of men...

Read More

How to Turn Your Side Hustle Into a Massive Tax Deduction

How to Turn Your Side Hustle Into a Massive Tax Deduction If you took on a side hustle...

Read More

Owe Back Taxes? Steps to Protect Your Finances

Do You Owe Back Taxes? Take These Steps to Protect Yourself and Your Finances   Few things are...

Read More

Four Ways Freelancers and Gig Workers Can Trim Their Tax Bills

It is hard to beat the freedom and flexibility of freelancing and gig work. When you work for...

Read More

Tax Deductions You May Be Eligible for as a Freelancer

Tax season can be a stressful time, especially for freelancers who might owe taxes at the end of...

Read More

What is an IRS Levy?

What is a Levy? IRS and Other Asset Levies Explained   Falling behind on your debts is never...

Read More

Cryptocurrency and Taxes

Did You Make Money with Cryptocurrency? How to Get Right with the IRS   For early adopters of...

Read More

Expect Tough IRS Enforcement under Biden Administration

Democrats are pushing for expanding the IRS with $5.2 billion dedicated to “enforcement activities,” Taxpayers should expect more...

Read More

Made a Mistake On Your Tax Return? Here’s What To Do.

Tax returns can be complicated and tricky to understand. Even for a professional, it can be surprisingly difficult...

Read More

Lucky Day at the Casino? Don’t Forget About the IRS

Whether you gamble all the time or only once in a blue moon, you are filled with hope...

Read More

9 Common Mistakes First Time Tax Filers Make That Can Land You In Tax Trouble

Being an adult has its perks, from being able to rent a car and book a hotel room...

Read More

5 Things That Can Unexpectedly Raise Your Taxes

5 Things That Can Unexpectedly Raise Your Taxes Proper tax planning is a year-round proposition. You cannot afford...

Read More

Find the Right Professional to Solve Your Tax Problem

Key Things to Look for in a Tax Relief Firm   No one wants to be on the...

Read More

Avoid These Common Tax Return Mistakes and Trouble with the IRS

4 Common Tax Return Mistakes That Could Get You in Trouble with the IRS   As tax filing...

Read More

Finding a Qualified Tax Resolution Firm

Tips for Finding a Qualified Tax Resolution Firm   Given how high the stakes are, it is surprising how...

Read More

Owe Money to the IRS? Use These Money Saving Tips Before You File

Owe Money to the IRS? Use These Money Saving Tips Before You File   Tax time is not...

Read More

Gig Workers and the IRS: 3 Steps to Tax Filing Success

Gig Workers and the IRS: 3 Steps to Tax Filing Success   If you are a member of...

Read More

If You Don’t Have Money to Pay Your Taxes, You Have Legitimate Options

If You Don't Have Money to Pay Your Taxes, You Have Legitimate Options   If you don't have...

Read More

Is it Bad to Settle With the IRS?

Is it Bad to Settle With the IRS?   You may have heard on the radio, TV, and...

Read More

Strategies to Ease the IRS Pain

Do You Owe Money to the IRS?  Possible Tax Resolution Strategies to Set Your Mind at Ease Even...

Read More

Why is choosing a local Tax Relief Attorney the best option

Introduction to Tax Relief Attorneys In the complex world of taxes, individuals and businesses often find themselves facing...

Read More

Tax Dept Help: A Comprehensive Guide to Understanding, Managing, and Overcoming

Understanding Tax Debt Tax debt is a financial obligation that arises when an individual or business fails to...

Read More

Understanding CP504 Letter: A Comprehensive Guide

Introduction to CP504 Letter In this section, we will provide a comprehensive introduction to the CP504 Letter. We...

Read More

Navigating Personal Injury Claims: A Step-by-Step Guide

If you've ever wondered what steps to take after an injury caused by someone else's negligence, you're in...

Read More

Overcoming Tax Debt: Strategies for Financial Relief

Today, we're focusing on a topic that many individuals and businesses face: tax debt. If you find yourself...

Read More

Tax Penalties and Interest: A Comprehensive Guide to Types, Costs, Duration, and IRS Relief

Taxation is an intricate and sometimes intimidating facet of our financial lives. It's not uncommon to find ourselves...

Read More

What is the IRS Fresh Start Initiative – Really?

The IRS, with its complex rules and regulations, can be a source of anxiety for many taxpayers. It's...

Read More

Decoding IRS Notice: What to Do When You Receive One?

Few pieces of mail can strike fear into the hearts of taxpayers quite like a letter from the...

Read More

Tax Representation For All

We’ll Talk To The IRS For You
LET'S GET STARTED

Contact Us

If you are ready to free yourself from levies & garnishments call us today or fill out our confidential contact form to set up your free consultation today.