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Payroll Tax Issues
Are you a Business Owner with Payroll Issues?
Need Tax Relief?
Payroll taxes refer to the amount of the income tax withheld from an employee’s income. This includes Social Security and Medical taxes. All business owners are legally required to withhold the payroll taxes from the paychecks of their employees and then send these funds to the IRS. If the employee doesn’t follow that process and they fail to withhold the payroll taxes and fail to send the funds to the IRS, this is when a payroll tax debt could incur.
Most business owners are encouraged to seek the advice of a licensed tax professional, particularly when calculating the correct deductions and taxes connected to an employee’s wages. In the event that a proprietor fails to pay the correct amount of taxes, the penalties can be steep. If the IRS assesses that taxes are not being paid properly or completely, a license tax professional should be consulted immediately to keep associated penalties and interest from getting out of control. Failure to act could result in aggressive collections up to and including business dissolution.
To avoid IRS collection actions and penalties, businesses should make their required federal tax deposits on time, every time.
with your Payroll Tax Issues. (855) 549-7829
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