We Can Protect Your Business And Settle Payroll Tax Debt!
Owing 941 payroll tax debt is one of the worst forms of liability issues, since the IRS considers this ‘stealing’ money directly from employees. Left untouched, these issues can spiral out of control, increasing the amount owed through penalties & interest and causing collections such as bank levies and asset seizures.
There are three different scenarios where somebody is responsible for 941 payroll taxes: a self-employed individual, a partnership with employees or a corporation with employees. Employers are required to withhold these payroll taxes from the wages earned by their employees and are required to forward these withholdings to the IRS. A business is required to quarterly file a Form 941, Employer’s Quarterly Federal Tax Return and to annually file a Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return if the business has employees on an active payroll.
The IRS will usually assign a Revenue Officer to collect a payroll tax debt. Revenue Officers will make every attempt to collect the tax debt in full and will not settle for less from the employer. Failure to pay or correct a delinquent payroll tax matter could result in the closure of the business and liquidation of assets.
To hire one of our tax professionals with years of experience in dealing with 941 payroll tax issues, contact us at (888) 857-4999 or fill out our Free Consultation form for a free confidential analysis.
Our tax professionals have years of experience and have resolved many 941 payroll tax issues. We assist businesses in reaching a resolution for their past due payroll tax liability by helping them understand their payroll tax obligations. Most importantly, we help the business remain compliant with the IRS tax laws and regulations.