Employers are responsible for withholding several types of payroll taxes (often referred to as 941 or 944 taxes) from employees. These withholdings include federal income tax, Social Security tax and Medicare tax. Businesses are also required to match the Social Security and Medicare portion of these taxes. Because these funds have already been withheld from employees, the IRS takes payroll tax debt very seriously. Unpaid payroll taxes can result in fines and even business asset seizures (like equipment, automobiles, bank accounts and accounts receivables).
Often employers facing unpaid payroll tax debt can feel overwhelmed by IRS harassment, the debt amount (including fees and fines) and the mounds of paperwork needed to rectify payroll tax debt. That is why it can be crucial to have a knowledgeable and dedicated tax attorney on your side.
Don’t risk the loss of your business to the IRS. Call Direct Tax Relief today at (800) 505-4134 for your FREE Tax Resolution Analysis.