by TaxRezPro

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 kinds 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, shutting 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.

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!

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 may quit, and the cycle of hiring has to start all over again.

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 employee payroll tax deposits is never a good idea.

What happens too often is that 1 pay period turns into 2, 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.

The IRS does not 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. 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 to simply close you down than work out an arrangement with you.

The 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 is more than likely overworked, under trained, and under paid. 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.

What Should You Do?

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? The 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. Contact us today to get expert tax resolution help. We’ll schedule a no-obligation confidential consultation to explain your options to permanently resolve your tax problem.

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. We can protect you from the IRS harassing you, calling you, showing up at your front door, and levying your bank accounts and other assets!

Contact us now and let’s get your payroll tax issue resolved!

in Tax
 by TaxRezPro

7 Reasons to Work with a Tax Resolution Professional to Resolve Your Back Taxes

7 Reasons to Work with a Tax Resolution Professional to Resolve Your Back Taxes

When you owe money to the IRS, it is hard to think about anything else. While being in debt is never fun, no matter who the debtor is, the IRS enjoys almost unlimited power to collect the money they are due.

Unlike your mortgage lender or credit card company, the Internal Revenue Service has the power to attach your wages, raid your bank account and even take your freedom. No other creditor even comes close in terms of its power and influence. Taking on the agency, on your own, could be asking for trouble.

If you have received a notice from the IRS, you need to act fast, and you need the right assistance in your corner. Taking on the IRS requires specific expertise, and that is why it is so important to work with a quality tax resolution company. Here are seven reasons why working with a tax resolution specialist could save your good name – and your bank account.

1. You gain specific expertise. The IRS is a specialized agency, and you need expert advice and guidance to get the most positive resolution.

2. It will give you peace of mind. Being contacted by the IRS can make your heart beat a bit faster but working with a tax resolution expert can set your mind at ease, especially once you hire a tax resolution specialist. Once you hire a tax resolution expert you won’t have to meet or speak with the IRS. They will handle all communications and correspondence with the IRS.

3. The tax resolution process could save you a lot of money. Tax resolution professionals are experts at settlements and working with one could save you a ton of money.

4. Timely action could save your home and property. If you wait too long, you could put your home, business, bank accounts and personal property at risk. Time is of the essence when it comes to resolving tax issues, and timely assistance could make a world of difference.

5. You will feel less alone. Few things feel as lonely as fighting the IRS on your own. When you work with a tax resolution expert, not only do you not have to go it alone, but they actually step into your shoes to represent your best interests.

6. You will have a chance to file missing returns. When faced with a big tax bill, it is easy to do nothing, but failing to file legally required tax returns could have serious consequences down the line. If you have years of unfiled returns, a tax resolution expert can help you catch up.

7. You could save your credit score. Unresolved issues with the IRS will reflect badly on your credit report, lowering your credit score and making it harder to borrow money or qualify for a mortgage. Timely tax resolution could preserve your stellar credit score and help you avoid those serious consequences.

Owing money to the IRS can be pretty frightening. There is a reason those three letters strike so much fear into the hearts of ordinary citizens, even those who have done nothing wrong.

If you are in trouble with the IRS, you cannot afford to ignore the issue, so act fast and get the help you need today. Working with a tax resolution expert carries a host of benefits, starting with the seven outlined above.

Most likely, you wouldn’t go to court without a lawyer. Similarly, it’s best not to deal with the IRS without expert representation which can be provided by a tax resolution expert.

Contact us today and we’ll schedule a no-obligation confidential consultation to explain your options in full to permanently resolve your tax problem.

in Tax / Tax help