For the last 36 years the Payroll Taxes Experts at Federal Tax Resolution have helped thousands of business owners keep their business, and help them move forward financially thru some of the roughest periods in their lives. This is what we specialize in, 940-941 tax debts. Want proof. How about a business owner in Arizona who had a $9,000,000 Civil Penalty, Trust Fund Recovery Penalty, on a 941 tax debt that ran into the tens of millions, and paid the IRS $0. Zero. We negotiated that for him in a case that ran several years, due to the bank records, where the volume of records took the bank nearly 7 months in total to complete.
If you want a Great Payroll Taxes Representation, then make sure you get a company that has decades of experience, and has seen the IRS pendulum swings from being aggressive in collections, to being passive, and knows how to use those to the advantage of a client. Federal Tax Resolution is the Fourth Oldest Tax Resolution Services firm in America. Our Payroll Taxes Experts have decades of experience, know the Internal Revenue Code, and can utilize precedent to your advantage. Call today for a Free Payroll Taxes consultation. 1-888-689-7861
No matter the reason for your falling behind on payroll or withholding taxes, understand that we can and will fix your problem. The first step is filling all of your back taxes. If you have quarters of different years that have not been filed, or a large number of years, we can get you into compliance (file all of your returns), which must happen if your want to pursue any options for tax debt relief. We have filed tax returns for companies with multi million dollar payrolls. Call and ask us the specifics of the filing process.
Companies in the United States must pay their share of the payroll taxes. The employer part of the payroll taxes is: Social Security taxes of 6.2% in 2020 and 2021 up to annual earnings of up to $137,700 for 2020 and $142,800 for 2021. Medicare taxes of 1.45 % of wages. FUTA taxes and State Unemployment taxes. Companies must also pay FICA taxes, which are shared by the employee and employer. The Business Owner must contribute 6.2% to Social Security and another 1.45 % to Medicare.
One of the ways business owners get behind on payroll taxes is in the reporting of the tax itself. The business is required to report on forms 940-941 the Annual Federal Unemployment Tax Return, the Quarterly Federal Tax Return, an Annual Return of Withheld Federal Income Tax, and the W-2 statements.
Having spoken to tens of thousand of business owners in the last 36 years, we understand the myriad of reason why business owners fall behind on payroll and withholding taxes. Some are good and frankly, some are not so good. We don’t concern ourselves with that, and its not that we are not uncaring, we are just so focused on the problem solving of our clients, that the second you become a client, we will push ourselves to see your problem resolved. We know the Internal Revenue Code from front to back, take continuing education classes, so we are always up to date on the newest changes to the tax code. We can use those changes to your advantage.
Sometimes a business owner will be duped by a crooked employee, or have a theft of goods, or something that is out of their control. We know of these situations and how to deal with them, as we have heard thousands of stories of business owners who have had that happen to them, have then become a client, and eventually were able to get a successful resolution of the debt they owed. The key if you want to pursue looking at tax tax relief options is to not listen to the hype of the TV commercials, touting “Pennies on the Dollar” as the only alternative to solving a tax debt. Its not. Many avenues exist for dealing with a tax debt and the best thing to do, is to look at every option available under the Tax Codes. That’s what we can and will do for you. When we are through analyzing your case, you will learn of every option you have, then you can make the correct choice for your business, your relationships, and your financial future. Payroll Taxes our what we specialize in. Call today 1-888-689-7861
If a business owner has not forwarded payroll taxes to the IRS, it is much more severe a situation than if it were a personal income tax debt. The IRS views this as stealing, due to the fact that a portion of this tax is from the taxpayer (employee) held in trust, by the employer, who is then supposed to forward it to the IRS. The penalties are more severe for these situations. With personal income taxes, you can bankrupt if you meet certain conditions, and a tolling requirement (the time between the assessment of tax and when you may actually file the bankruptcy). You cannot bankrupt 941 payroll taxes. The IRS also has the ability to go after your personal property to satisfy the tax debt. In determining who is deemed to be a “responsible person”, the IRS will conduct what is known as a “Non-Assertion” interview. Anyone who had the ability to write checks for payroll, or to forward the IRS payments, including managers, are also on the hook, not just the business owner. Once the IRS determines who is responsible, they will then potentially go after personal property in cases where negligence is shown.
The IRS will issue late fees if the Payroll Taxes are not forwarded, and if they issue a Trust Fund Recovery Penalty, it is a 100% penalty, on the Trust Fund Portion of the tax debt. With interest and penalty, it can explode a tax debt, and be the death knell of a once profitable business. The IRS may also issue a tax lien against the property of all responsible parties, again determined by the Non-Assertion interview. The IRS can seize the assets of a business owner to satisfy a tax debt as well. This can be avoided, as long as a game plan is developed that will placate the IRS and is something that is workable for the business owner, which can include any tax relief options they may qualify for. Jail time is a possibility, but hardly ever happens, as long as the taxpayer makes an effort to get the problem resolved. We always suggest for really bad cases of payroll taxes debt, to first get a Power of Attorney filed, which shows your willingness to solve your problem.
We get asked by business owners sometimes, can I negotiate with the IRS myself ? The honest truth is no. Why ? Because business owners who have put so much blood, sweat, energy, and sacrifice to get their business to where it is, do not have the knowledge to do this. And what they end up doing is sending the wrong signal to the IRS, and that will make the situation worse, often leading to a Trust Fund Recovery Penalty in a situation where one didn’t have to be issued. We have fielded numerous calls where the business owner said, “I spoke to you about a year ago, then tried this myself. The IRS issued a Trust Fund Penalty after our discussion. Can you eliminate that ? Often it is too late to do anything about the knots they have tied around their business, which are now strangling the cash flow, which will eventually cause the business to go under. That’s what at risk. Do you really want to risk your business, not knowing the tax codes ? Call the Tax Professionals who are Experts at 940-941 tax debts. 1-888-689-7861
IF YOU REALLY WANT YOUR PAYROLL TAX DEBT FIXED, YOU NEED
EXPERIENCE TAX PROFESSIONALS WHO SPECIALIZE IN 940-941 TAX ISSUES. THIS IS OUR SPECIALTY AND WE HAVE OVER 125 YEARS OF EXPERIENCE TO BRING TO BEAR ON YOUR PAYROLL TAX DEBTS.
WE ARE ONE OF THE ONLY TAX RESOLUTION COMPANIES THAT HAS THE ABILITY TO REPRESENT A TAXPAYER IN TAX COURT IN ANY JURISDICTION IN THE UNITED STATES, SOMETHING BUSINESS OWNERS WITH AN UNJUST IRS AGENT MAY WANT TO DO, TAKE THE CASE OUT OF THEIR JURISDICTION.
WE HAVE THE ABILITY TO REPRESENT TAXPAYERS ANYWHERE IN THE WORLD.
WE HAVE CONTACTS WITH IRS OFFICIALS IN THE UPPER ECHELON ON DECISION MAKING AT THE IRS, WHICH HAS MEANT THE DIFFERENCE IN NUMEROUS CASES FOR OUR CLIENTS.
WE ARE THE FOURTH OLDEST TAX RESOLUTION COMPANY IN AMERICA.
WE HAVE SUCCESSFULLY SUBMITTED A IRS FRESH START PROGRAM ON A IRS DEBT OF $2,500,000 FOR $3009.88. THAT WAS IN 1988
WE SUCCESSFULLY NEGOTIATED A TRUST FUND RECOVERY PENALTY OF $9,00,000 ON A MULTI MILLION DOLLAR PAYROLL TAX DEBT DOWN TO $0. ZERO PAID.
OVER THE LAST 36 YEARS, OUR IRS FRESH START PROGRAM SAVINGS HAVE RUN INTO THE MILLIONS FOR OUR CLIENTS.
We have a Higher Grade of Tax Professional than 98% of the Tax Resolution firms in America. We are A+ rated by the Better Business Bureau and are recommended by our peers in the industry. We don’t follow the industry, we help make positive changes to our industry. When this industry first started, two companies dominated the national market. They were both “Pennies on the Dollar” Offer in Compromise Mills, selling lies to clients and charging the entire fee upfront, as they could never receive payments once the client found out the scam. Federal Tax Resolution was one of the first companies to charge a reasonable retainer fee, confident of the work being done, then accepting payments over time, knowing the client would see the work was being done professionally. That allowed thousands of taxpayers who could not afford a fee upfront, to obtain real, professional Tax Resolution work, not the bogus work of the Offer in Compromise Mills. We go back to the beginning of the industry and are absolute Professionals when it comes to Payroll Taxes Debts. We have been helping Americans from every State in the Union for the last 36 years. Call and tell us your story. Then we will explain the proper process to go through to obtain lasting tax relief. 1-888-689-7861