Don’t let your business fail because you fall behind on payroll taxes

by | Sep 18, 2012 | Legal Advice

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There are about as many reasons why business owners fail to deposit their payroll taxes as there are businesses in Georgia. For whatever the reason that the employer fails to make payroll tax deposits on time, the Internal Revenue Service considers this to be a serious problem and often uses aggressive measures for collection. When this occurs, the business owner may need the help of a professional Tax Service in Atlanta to assist them in working out a deal with the Internal Revenue Service so that they do not have to close their business.

What many business owners do not realize is that they can be held liable as individuals for lack of payroll tax payments. The business owner themselves can be levied with fines, penalties and interest on past due payments. Also, employees, who are not business owners, can be held responsible for the same problem. This kind of tax issue can affect the solvency of a business’s assets as well as those of individuals. Unpaid employment taxes can cause your business to be shut down, all your bank accounts frozen and your assets seized. Professional Tax Services in Atlanta that specialize in business tax issues will tell you that the Internal Revenue Service seldom allows any type of leniency on this matter. If this type of tax delinquency ever happens to you, an immediate response is required to stop you from being held liable especially if you are not a business owner but an employee where payroll taxes are delinquent.

Remaining in compliance with all tax obligations is extremely important as a business owner but being up to date on your payroll taxes is one of the most crucial issues for any size business. Even if you are the sole employee of that business, if you pay yourself any type of wages, you owe payroll taxes. While no two situations are the same when it comes to delinquent payroll taxes, the problems will not just disappear if you ignore them. These are very serious issues and the Internal Revenue Service is severe in their actions. The more you don’t comply, the more limited your options become in resolving the problem. This type of issue is not something you should try and deal with on your own, seeking professional tax issue help is your best option. These experienced professional Tax Services in Atlanta are trained to handle these types of problems and can go over your case with you and help you figure out a way to deal with the problem so that you can resolve your past due debt and hopefully remain in business. They can often act as a liaison between you and the Internal Revenue Service and they are up to date with all the latest information on laws and regulations.



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