The economy is flat and many businesses are struggling. It’s tempting for a business owner to neglect remitting payroll taxes to the IRS in a timely manner. Sometimes it’s needed to keep the lights on or the engines running. However, this practice can very quickly devastate a business because the IRS is particularly aggressive when it comes to delinquent payroll tax collection. These taxes are supposed to be withheld from an employee’s paycheck by the employer and, if they are not, the owner of the business and the officers and anyone else the IRS can grab for responsibility will face seizure of assets and accounts, including those assets needed for running the business.
Regardless of what stage of the payroll tax collection process you may find yourself, working with a professional at Cornerstone Tax Resolution can help. But you have to act now. Again, this is an issue the IRS takes personally. They will act aggressively and quickly to collect. At CTR we are familiar with the dilemma you and your officers are facing. There are businesses that quite literally thank us for their continued existence. In many cases, we have been able to convince the Revenue Officers involved with the case to not touch your personal and professional assets, income and bank accounts as long as an equitable agreement for resolution on behalf of your business is being crafted. But don’t delay. Call Cornerstone Tax Resolution for an honest, upfront analysis of your particular situation, and every situation is unique