Seeking Payroll Tax Debt Relief? You Have Options

payroll tax debt reliefSmall businesses are weighed down with a bevy of taxes (and soon they will face changing overtime policies, too). For every employee, businesses have payroll taxes that are paid throughout the year (rather than just on April 15). But what happens if you get behind and can’t pay? Or what if your business goes under? Read on to learn more about employer taxes and payroll tax debt relief.

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First-Time Tax Offender? See if You Can Benefit From an IRS Penalty Waiver

What Is an IRS Penalty Waiver (aka Penalty Abatement)?

IRS penalty waiver

An IRS penalty waiver does exactly what it sounds like – waives IRS penalties. For an individual filer, this procedure attacks failure-to-file or failure-to-pay penalties. For a business, these penalties also include those related to a failure to properly deposit payroll taxes. Pursuing this type of waiver is one step in the process of reducing or eliminating tax debt.

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I Filed My Tax Return. What Are the Chances of an IRS Audit?

IRS audit Most people would agree that any notice coming from the IRS is scary news. So much so, that many taxpayers cringe when receiving correspondence and leave important notices, like a CP2000 Notice of Underreported Income, unopened.
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Small Businesses May Need Big Tax Debt Relief

tax debt relief While the number of small businesses continues to shrink, much of it due to astronomical taxes and other fees, tax protections and loopholes for big corporations continue to go unchecked. Between 2008 through 2012, corporations have paid an average of 14 percent of profits in taxes. Even more shocking, one out of five of these profitable corporations paid zero federal taxes!
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