Hiring a Professional is Critical
The IRS views failure to pay payroll taxes as the cardinal sin of tax delinquency, because a large portion of the payroll taxes are your employees' withholdings. Not paying your company's payroll taxes is tantamount to stealing your employees' money.
As a result, penalties for failing to pay your payroll taxes and filing your payroll tax returns on time are much more severe than other types of penalties. The amount you owe can drastically multiply in a very short time.
If you are behind on paying payroll taxes for your company, WATCH OUT!!! The IRS is extremely aggressive pursuing collection of this type of tax. They would rather seize your business assets, close you down, sell your assets at auction, and put you out of business than allow you to continue amassing additional payroll tax liabilities.
If you are behind on your payroll taxes, DO NOT meet with the IRS on your own. How you answer their initial questions can determine whether you stay in business or not. It is critical you hire a professional representative who knows how the IRS operates.
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Akram & Associates is here to help. Call us toll-free at 844-386-3829, or use the form on this page to schedule a free consultation.