How to Get Business Tax Relief from an IRS Installment Payment Plan if You Have Unpaid Employment Taxes or Unpaid Payroll Taxes
By Michael Rozbruch
Because unpaid employment taxes/unpaid payroll taxes are considered trust taxes, these are the toughest IRS payment plans to negotiate. Collecting unpaid employment taxes/unpaid payroll taxes is a top priority for IRS. If you want business tax relief, you will need a tax attorney or Certified Tax Resolution Specialist to educate you on the best business tax relief solution for your specific situation.
It’s no secret that the Internal Revenue Service is making a huge effort to collect every last cent of unpaid employment taxes or unpaid payroll taxes the government is owed. In that spirit, the IRS is cracking down on small businesses with unpaid payroll taxes and past due employment taxes, which until recently have largely flown under the radar. Any company with unpaid employment taxes or delinquent payroll taxes has committed a federal crime and can expect devastating results. If you have unpaid employment taxes or unpaid payroll taxes and are in need of business tax relief, here is what you need to do.
Unpaid employment taxes /unpaid payroll taxes tip #1: Understand the gravity of your situation.
The IRS views unpaid payroll taxes and unpaid employment taxes as theft, and they carry severe consequences. Aside from penalties (33% plus interest at 16 days past the day you should have filed the 941 - payroll tax return) and prison time, the IRS can padlock your business’s doors without a court order, seize your equipment and contact your customers to intercept any future payments owed to you.
The IRS doesn’t care whether you stay in business or not – just as long as all unpaid employment taxes or past due payroll taxes owed are accounted for. You need business tax relief and negotiating a properly structured payment plan or IRS installment plan can help you manage your cash flow and cut new penalties in half.
Unpaid employment taxes /unpaid payroll taxes tip #2: Get professional advice NOW.
Even more than a personal audit, an unpaid payroll tax or delinquent employment tax investigation has the power to destroy you and the people who work for you. The IRS has subjective thresholds it uses to determine who was culpable in failing to file and/or pay unpaid employment taxes or unpaid payroll taxes. They can assess the Trust Fund Recovery Penalty (TFRP) and go after anyone and everyone including company owners, officers, shareholders, CPAs, accountants, EAs, and bookkeepers.
You might be tempted to represent yourself before the IRS in your bid for business tax relief. Don’t. This is the equivalent of defending yourself against murder charges without a lawyer. You are in over your head and have too much to lose.
To get business tax relief, it is vital to get professional help from a tax attorney or Certified Tax Resolution Specialist to protect you, your company, and employees. A qualified professional will be able to negotiate for business tax relief in the form of an IRS payment plan or IRS installment plan for your unpaid payroll taxes or unpaid employment taxes. A good tax attorney or Certified Tax Resolution Specialist will tell you how best to move forward so you can get the business tax relief you need and keep your livelihood.
Unpaid employment taxes /unpaid payroll taxes tip #3: Move fast to protect your business.
The IRS prioritizes collecting unpaid employment taxes or unpaid payroll taxes. They accelerate the unpaid payroll tax or unpaid employment tax notice process, so it behooves you to move fast. Make no mistake, you have committed a federal crime. The money collected from employees to pay their shares of federal withheld tax, FICA and Medicare (Social Security) should have been paid to the federal government within three days after the pay date of the payroll checks.
If you are a candidate for business tax relief, contact a tax attorney or Certified Tax Resolution Specialist today. The penalties assessed on unpaid payroll tax/unpaid employment tax deposits or filings can increase dramatically in a matter of months. If you don’t take immediate business tax relief action to deal with past due payroll taxes or unpaid employment taxes (and their escalating penalties) and get yourself on and IRS payment plan or IRS installment plan, you will find yourself out of business.
Unpaid employment taxes /unpaid payroll taxes tip #4: Be prepared to defend your proposal for yourself as well as your business point by point.
The IRS moves fast, but with the help of a tax attorney or Certified Tax Resolution Specialist, you can move faster towards attaining business tax relief. Because the IRS has almost unfettered powers to seize and liquidate, they are seldom in a mood to meet their victims half-way. To get the business tax relief you need the expertise and nerves of steel that an experienced tax attorney or Certified Tax Resolution Specialist brings to the table when negotiating an IRS payment plan.
A tax attorney or Certified Tax Resolution Specialist will be able to analyze and articulate the real value of your business, taking every unique factor into consideration. The IRS will likely require you to submit a full set of financials for the business as well as for yourself. Your tax attorney or Certified Tax Resolution Specialist will submit a proposal for a business tax relief IRS payment plan or IRS installment plan and negotiate every federal objection point by point.
Unpaid employment taxes /unpaid payroll taxes tip #5: Don’t settle when seeking an expert and experienced tax relief.
Your tax relief professional should understand your needs as a business owner for working capital and cash flow to keep your businesses running. A qualified tax relief professional knows that there’s more at stake for you than cutting a deal with the IRS to save money - resolving your payroll tax issues is about saving the financial future of your company.
In this weak economy, many businesses - both big and small - are struggling to make their payroll tax deposits and many are falling behind. Delinquent employment taxes can be the “kiss of death” for many business owners as IRS payroll tax penalties can add up quickly. Payroll tax debt should not be taken lightly - IRS levies on wages and bank accounts can cause you to lose your business. Fortunately, there’s a solution to every problem.
For more information on achieving a tax resolution for your employment tax problems, visit www.taxresolution.com for a free tax relief consultation or call 866-IRS-PROBLEMS.
Michael Rozbruch, one of the nation’s leading tax experts, is a Certified Tax Resolution Specialist (CTRS), licensed CPA in the state of Maryland and the founder of Tax Resolution Services. He teams up with an expert staff of tax attorneys, CPAs, and tax relief professionals to help individuals and small businesses solve their IRS problems with tax liens, unfiled back taxes, offers in compromise, wage levies, tax relief, delinquent returns, tax debt installment plans, bankruptcy and protecting an innocent spouse from unfair tax burdens.
[Note from HandelontheLaw.com: This article is to be used as an educational guide only and should not be interpreted as a legal consultation. Readers of this article are advised to seek an attorney if a legal consultation is needed. Laws may vary by state and are subject to change, thus the accuracy of this information can not be guaranteed. Readers act on this information solely at their own risk. Neither HandelontheLaw.com, or any of its affiliates, shall have any liability stemming from this article.]
