Considering how many priorities, problems, and distractions a business owner deals with every day, it should come as no surprise that IRS payroll tax issues may arise. Whether you filed your payroll returns late or failed to make payroll tax deposits, unresolved business tax problems can become major legal and financial issues if not handled properly. If you’re grappling with problems caused by a business tax debt, get in touch with the experts at East Coast Tax Consulting Group as soon as possible. Specializing in business tax relief, we have the expertise and credentials to resolve all your payroll tax problems and bring you long-lasting company tax relief. Don’t let an IRS payroll tax penalty spell disaster for your Boca Raton area business.
We’ll help manage your business tax debt by first reviewing the circumstances of your payroll tax problem and then devising an effective plan of action to address the issue. It’s our priority to help you secure the business tax relief you need, and we’ll focus all our resources on implementing a strategy that will work for you. The causes of payroll tax problems may include everything from mistakes in filing payroll returns to employee misclassification. When you need payroll tax relief, let the experienced IRS payroll experts at East Coast Tax Consulting Group get you the results you need.
Consequences of IRS payroll issues can range from assessment of costly payroll tax penalties, to seizure of your business assets or even criminal prosecution. To avoid a shutdown of your business, you’ll need to get business tax relief with help from East Coast Tax Consulting Group. We’ll help you free yourself from your burdensome business tax problems, so you can focus on what you’re meant to do, running your business.
Trust Fund Recovery Penalty
The taxes you withhold from your employees’ wages are known as trust fund taxes. If you fail to pay over these taxes, the IRS could hold you personally responsible and assess a trust fund penalty against you. The trust fund recovery penalty is equal to the unpaid taxes, but to the extent payment is made by your business, your personal responsibility is reduced. This responsibility can continue even if your business closes, files for bankruptcy or continues to operate.
The tax relief experts at East Coast Tax Consulting Group can appeal the assessment of a trust fund penalty, establish a payment plan, or possibly negotiate an offer in compromise to settle your tax debt for less than the amount you owe.
When you’re struggling with small business tax problems our experienced CPAs can help you straighten things out. With our many years of experience and a firm commitment to providing the most dependable tax help in the Boca Raton area, East Coast Tax Consulting Group is the team of tax consultants you can count on! If you need a CPA to sort out and resolve your small business tax problems, give us a call today at 561-826-9303 to get started.