Payroll tax problems can snowball out of control in a matter of months. The government does not take employers who fail to properly file and account for their payroll taxes lightly. Thanks to hard-hitting IRS tax penalties, the debt you owe for your payroll tax troubles can quickly multiply, threatening not only your finances but the viability of your entire business.
If you’ve missed payments or made mistakes on your payroll tax reporting, you can’t afford to let these errors slide. The payroll taxes you collect from employees don’t belong to your company, so they’re not yours to spend as you wish on operating your business.
Should you fail to respond to an IRS business tax audit in a timely manner, the consequences for delinquent payroll taxes can be quite severe. As the IRS sees it, unpaid payroll taxes are tantamount to stealing and can be considered a federal crime. Instead of finding yourself simply on the line for back payroll taxes, you could soon find yourself facing criminal charges and see your business shuttered and its assets up for sale.
Fortunately, the financial advisers at Taxation Solutions, Inc. know what to do when the IRS is coming down hard to recover your payroll tax debt. We work with businesses throughout the Milwaukee area to resolve payroll tax issues and help rebuild relationships with the IRS. Don’t let complex payroll tax rules put you and your business in a precarious position. For the payroll tax relief you need now, give us a call today!