Many of you may own your own business with your own employees. This means you will need to follow the IRS tax rules for filing and paying annual payroll taxes if you want to stay in business and out of IRS trouble.
But how far can the IRS go when it comes to collecting unpaid payroll taxes? Can the IRS really go after you personally if you fail to file and
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The man in the article below got busted for some serious crimes.  He is lucky that he got off with five years of probation and no jail time.  As an employer, which he was, who withheld taxes from his employees, he was obligated to turn over the employee withholding taxes to the government.  The government considers these withholding taxes as “trust” taxes, relying on the integrity of business owners to
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Earlier this year, the Internal Revenue Service began employment tax audits of approximately 6,000 U.S. companies to provide statistical data for the National Research Program study of employment tax compliance.
During this process, the IRS is also prioritizing the collection of unpaid employment taxes from both businesses big and small. This means no one is safe from IRS audits as Uncle Sam zeros in on randomly selected companies and individuals in order to
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Earlier this year, the Internal Revenue Service began employment tax audits of approximately 6,000 U.S. companies to provide statistical data for the National Research Program study of employment tax compliance. The IRS is also prioritizing the collection of unpaid employment taxes from both businesses big and small – and putting their most experienced agents on the task.
As the IRS is stepping up their increasingly aggressive collection efforts for unpaid payroll
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Businesses and employers must be very cautious when it comes to classifying workers as employees or independent contractors – misclassification can get you in deep IRS trouble. Employers must be aware of these IRS audits and employee classification assessments because if the IRS finds a misclassification that has deprived employees of their tax benefits (such as classifying employees an independent contractors) they can demand the employer provide for these missed
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Because unpaid employment taxes/unpaid payroll taxes are considered trust taxes, these are the toughest IRS payment plans to negotiate. Collecting unpaid employment taxes/unpaid payroll taxes is a top priority for IRS. If you want business tax relief, you will need a tax attorney or Certified Tax Resolution Specialist to educate you on the best business tax relief solution for your specific situation.
It’s no secret that the Internal Revenue Service is
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Payroll tax is a topic that usually invokes a growl from small and large business owners alike – failure to keep up with payroll tax payments, as I’ve stated before, can be the “kiss of death” for many businesses. Having unpaid employment taxes/payroll taxes quickly results in IRS payroll tax penalties and suddenly your business is shut down, boarded up by the IRS and that’s the end of that. However,
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Are you paying more to Uncle Sam than you need to be?
Surely no one wants to give the IRS extra cash that would otherwise stay in their own pockets. My partner Brian Compton recently shared some expert tax help tips on the Big Biz Show on how taxpayers can minimize their tax bill this year by taking full advantage of their allowable tax deductions.
Below are some top tax deductions taxpayers
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Tax Resolution Services webpage about Payroll Tax Problems proclaims “The IRS is very aggressive in their collection attempts for past due payroll taxes.”  And that is the truth!  The New Hampshire businessman highlighted in the article below apparently thought he was above the law when he tried to evade payroll taxes by paying his employees in cash.  Maybe he thought he was doing his employees a favor by giving them their
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Many small business owners are feeling the heat with the struggling economy this tax season; on top of worrying about how to pay the bills just to keep the lights on, they have to figure out how to make payroll taxes in order to avoid harsh IRS penalties.
While it may be tempting to skip payroll tax payments in order to keep business doors open, not paying the IRS what you
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This week, the nation’s leading tax expert Brian Compton, president of Tax Resolution Services, chatted with Caz Taylor and Ruben Garcia on SBA Radio to share some great tax help tips for small business owners on how to avoid IRS audits.
As the tax filing deadline draws nearer, many small businesses already struggling with the state of the economy must face yet another challenge–filing and paying taxes.
It has been reported that
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Employers trying to avoid IRS payroll tax problems may encounter a different challenge: employees disputing tax withholdings.
Sometimes the line between a contractor worker and an employee may get blurred–as an employer as well as employee, it’s important that you clarify your work status before you file your taxes each year. This will help you avoid IRS problems down the line and will also ensure that you won’t have accumulated back
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Unfiled delinquent tax returns can weigh on you like a disease. Every unfiled delinquent tax return eats at you, year after year, compounding fear until you feel hopeless. So if you’ve got a late delinquent tax return, follow the simple steps outlined in this unfiled delinquent tax return checklist and get expert help from a tax attorney or a Certified Tax Resolution Specialist to check the IRS off your worry
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The IRS announced that it expects to expand its auditing activities by embarking on a 3-year campaign that will audit 6,000 businesses both big and small.
According to the TheStreet.com, the IRS estimates that American companies underpay employer taxes by a whopping $14 billion a year. As the government is strapped for cash, the IRS is stepping up its auditing department to try and cash in on lost tax revenue.
While some
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In a time when the government is desperate for revenue, it is very important for business owners to stay on top of their payroll taxes game to avoid IRS payroll tax problems.
For those who may not be familiar with payroll taxes, unpaid payroll taxes are considered “trust fund taxes” because the employer’s failure to pay payroll taxes is equated to holding the employee’s money in trust until a federal tax
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