Payroll Tax Problems

Payroll Tax Problems2017-02-06T09:48:23+00:00

For the IRS, the worst sin that someone can commit is not paying payroll taxes. This is because a large portion of the payroll taxes actually come from employee withholdings. Essentially, in the eyes of the IRS, not paying Payroll taxes is equivalent to stealing.

Because of the harsh view of non-payment of payroll tax, the IRS also has harsher penalties and interests for those with late payroll tax returns. The interest on such returns are amongst the highest the IRS rolls out.

The IRS is also very aggressive with collection of payroll taxes. So much so that they have been known to seize company assets, sell them at auction, and even close down companies rather than allowing them to continue to accumulate additional payroll tax liabilities.

If you are behind on your payroll taxes, it is critical that you hire someone who knows to handle your situation. For a free consultation with an accounting professional, click the button below.