As a business owner, you need to pay close attention to your payroll tax liability. If you ever find yourself in trouble over IRS 941 Tax issues, you will be in for a terrible time. This is mainly because it deals with your employee payroll deductions and tax withholdings from their pay. If your business ever gets a notice from the IRS saying that there is a payroll or employment problem, you will need to get in front of the issue quickly.
There is representation by a tax lawyer, CPA, EA for 941 Tax issues and they will be on your side until the issues are resolved. Tax lawyers, CPAs, EAs are usually the best Tax Resolution Specialists that know the tax laws inside out and will be able to help you navigate the tricky hurdles that you will be up against when you finally do meet with the IRS.
Get a free evaluation by calling us at 877-788-2937.
Before we get into settling payroll tax problems with the IRS, it is would be a good idea to first talk about what exactly we are talking about when it comes to a business’s payroll tax liability. In a nutshell, payroll taxes refer to the money that an employer withholds from all employees pay and is supposed to be sent to the IRS.
These withholdings can be in the form of money that is taken out of each employee for income tax, Medicare and Social Security payments. These funds are then sent directly to the IRS and are also known as 941 Taxes or Trust Fund Taxes. The problem begins for a business when they fail to send the funds and they do not report the withholding of the funds to the IRS. If you are having Payroll Tax issues you need to talk to a tax lawyer, CPA, EA for 941 tax issues.
The IRS makes it a top priority to collect these 941 Taxes and failure to take it seriously can land your business in serious tax problems with the government and the IRS in particular. It would be wise to avoid the possibility of tax issues by following the strict rules on reporting withholding taxes.
As the owner of the business or the responsible party for the running of a corporation, you are ultimately responsible for the handling of the payroll taxes for the business. That means it is on you to ensure that you have all of your T’s crossed and I’s are dotted when it comes to payroll tax collection, reporting.
Now, if your situation takes a turn and you find yourself on the wrong side of 941 tax trouble then you need to be sure that you have the help you need from a well-qualified tax attorney, CPA, EA for 941 tax. You will find them as part of a Tax Resolution Firm.
When it comes to settling payroll tax issues with the IRS you should have a Tax Lawyer, CPA, EA for 941 Tax. These lawyers have all of the necessary training and experience that is necessary to help a business resolve their payroll tax issues with the IRS. Do not attempt to settle with the IRS until you have at least sat down and discuss your problems with a tax lawyer, CPA, EA.
Get a free evaluation by calling us at 877-788-2937.
Tax Resolution firms offers a number of tax-related services and employs a number of well qualified and experienced lawyers, CPA, EA that specialize in tax controversy law. By having a team of experienced people they are able to offer their clients a measure of security that they would be able to help.
A tax attorney, CPA, EA for 941 tax troubles is your best weapon when dealing with the IRS and their knowledge and expertise will be able to level the playing field and to help ensure that you are able to negotiate the best deal possible with the IRS.
Once you started working with a Tax Resolution Firm and one of their tax lawyers, CPA, EA you will have a number of decisions to make including which of the four ways to approach the IRS with as a way to pay the back payroll taxes. The IRS has established four different methods that they are willing to use in order to recover the back taxes from companies like yours.
The four methods each allows the company to set up a payment plan that is workable for them and that will ensure that the IRS recovers the money that is owed for back payroll taxes. Each one of the four has unique sets of guidelines, requirements and must be followed precisely, this is where having a Tax lawyer for 941 tax issue would be very helpful.
Installment Agreement – This is a payment pan between the company and IRS whereas a monthly plan for repayment of the back payroll taxes is spread out over a predetermined amount of time. This method is the most preferred by the IRS and is the best way for them to ensure that they fully collect the back taxes
Partial Payment Installment – This method is similar to the installment agreement in that a company agrees to pay in the monthly payment, but instead of it being the amount the IRS wants, it is based on what the company can afford to pay. This amount is based on the information supplied to the IRS by the company on a 433-B form. A tax lawyer, CPA, EA for 941 tax would be able to help fill out the form. Once the IRS has the form they will determine what the company should be able to payback on a monthly installment plan.
OIC or Offers in Compromise – This method is the least preferred by the IRS, but if it is determined from the information provided on the 433-B form that they would not be able to recover the full amount they agree to a less than full amount installment plan.
Currently not Collectible – If is determined by the IRS that it is not likely that the company will be able to pay back the back payroll taxes based on the information that they received they could use this option and put the tax repayment on hold for a period of time. This does not change the fact that the money is owed to the IRS.
Get a free 941 payroll resolution evaluation by calling us at 877-788-2937.
Mike Habib is an IRS licensed Enrolled Agent who owns and operates a specialized tax representation firm serving business taxpayers with IRS and state payroll tax problems in various metro areas such as Los Angeles, Whittier, Pasadena, Glendale, Burbank, Orange County, Riverside, Palm Springs, San Bernardino, Palmdale, Bakersfield, New York, New Jersey, Chicago, Houston, Phoenix, Philadelphia, San Antonio, San Diego, Dallas, San Jose, Detroit, Jacksonville, Indianapolis, San Francisco, Columbus, Austin, Memphis, Fort Worth, Baltimore, Charlotte, El Paso, Boston, Seattle, Washington DC, Milwaukee, Denver, Louisville, Jefferson, Las Vegas, Reno, Hempstead, Tucson, Nashville, Davidson, Portland, Tucson, Albuquerque, Santa Fe, Anchorage, Atlanta, Long Beach, Fresno, Sacramento, Mesa, Kansas City, Cleveland, Virginia Beach, Omaha, Miami, Oakland, Tulsa, Honolulu, Minneapolis, Pittsburgh, Colorado Springs, Arlington, Wichita, Birmingham, Montgomery, Tampa, Orlando.
IRS and state payroll tax representation help for clients throughout Southern California including Norwalk, Santa Fe Springs, Downey, Pico Rivera, Montebello, Hacienda Heights, La Habra Heights, West Covina, La Habra, Brea, Fullerton, Yorba Linda, Cerritos, La Mirada, Lakewood, Anaheim, Santa Ana, Long Beach, Compton, Torrance, Los Angeles, Pasadena, Beverly Hills, Santa Monica and throughout Los Angeles County, Newport Beach, Irvine, Orange County, Corona, San Bernardino County, Riverside County, the Inland Empire, the San Fernando Valley, Ventura county, and the San Gabriel Valley.