Payroll tax problems are very serious and the IRS pursues their collection very aggressively. The government views it as a form of “stealing” since the funds were withheld from the employee and never remitted to the IRS.
Payroll tax problems can be overwhelming for you, the business owner. That is why it is crucial to have a knowledgeable and dedicated Tax Attorney on your side that will fight for your rights. The tax experts at Direct Tax Relief will handle your payroll tax problems and negotiate with the IRS so you can concentrate on running your business.
As an employer, businesses are responsible for withholding several types of payroll taxes including federal income tax, Social Security tax, and Medicare tax. The business is also required by law to match the Social Security and Medicare portion of the taxes. Payroll taxes are commonly referred to as 941 taxes, named after the quarterly form that is prepared and filed with the IRS.
Recently, form 944 was introduced, but only businesses notified and granted by the IRS are allowed to file form 944, which is an annual payroll return. If these payroll taxes are not paid on time, the IRS can and will seize business assets such as business equipment, automobiles, bank accounts, and accounts receivables.
Contact Direct Tax Relief for a no-cost or obligation analysis. Direct Tax Relief is tax debt resolution company and can help solve your payroll tax problems.