What are Payroll Taxes?
Payroll Taxes are the Social Security, Medicare, and Federal Income Taxes associated with paying wages. When business gets tough, it’s natural to take care of immediate concerns first. You are just trying to stay alive. However, it doesn’t take long for Employment Taxes to snowball and before you know it the IRS is knocking at your door. They monitor Payroll Taxes much closer than individual taxes owed. For instance, a “high-dollar” personal liability is typically $250,000 or more; while on the other hand a payroll liability is considered “high-dollar” at only $25,000. At which point they will assign a Revenue Officer to enforce their most aggressive collection tactics.
Why Real Tax Remedies?
Before you even know they’re assigned, your Revenue Officer will be investigating you. Everything from driving by to secretly visiting your place of business. One of the first things they’ll do is overwhelm you with their typical notices and file Tax Liens to get your attention. Next, they will demonstrate their willingness to work with you in order to fulfill their responsibility to assess Trust Fund Penalties. These penalties are the IRS’s method to breach the corporate veil, hold anyone associated with the payment of the tax responsible, and ensure that they get paid even if the business has to shut their doors.
What can we do?
At this point, if you haven’t already you need to find representation. To transfer the Payroll Taxes to personal liability, your Revenue Officer has to attempt an official interview. They will ask key questions where your responses, under penalty of perjury, will be used to determine who is held responsible. Revenue Officers will attempt to play this off as an informal conversation. Without representation you may not even realize you are having the interview until it’s too late. To have a representative is your right as a taxpayer. Whether your intent is to keep your business open or to close it down and limit you and your family's personal exposure, you need a tax resolution expert like those at Real Tax Remedies to pull you through to the other side.
Payroll Taxes are debilitating to you and your business, but we can help you make the best of a difficult situation. Schedule your free consultation today.
Additional Services
Revenue Officer
An individual agent assigned to enforce maximum collection
Levies & Garnishments
Seizure of Funds
Installment Agreement
Payment Plan Program
Offer in Compromise
Hardship-based Settlement Program