The IRS views failing 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 in the eyes of
the IRS. 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. They can drastically
multiply the amount you owe in a very short time. 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 set the tone for how aggressive they will become with their
collection activities. It is
critical you hire a professional representative who knows how the IRS
operates.
Please contact us
immediately if you have received a letter or assessment of payroll or
employment taxes from the IRS or a state tax agency.
