Payroll tax is a tax that an employer withholds and pays on behalf of his/her employees, and the amount of the tax is based on the wage or salary of the employee. Governments use revenues from payroll taxes to fund programs such as Social Security, healthcare, unemployment compensation, and more. Payroll tax cases are among the most serious tax debt cases and need to be handled by professionals. In many cases, the IRS would rather shut down your business rather than risk not receiving your employees’ tax withholdings.
Payroll tax is a tax that an employer withholds and pays on behalf of his/her employees, and the amount of the tax is based on the wage or salary of the employee. Governments use revenues from payroll taxes to fund programs such as Social Security, healthcare, unemployment compensation, and more. Payroll tax cases are among the most serious tax debt cases and need to be handled by professionals. In many cases, the IRS would rather shut down your business rather than risk not receiving your employees’ tax withholdings.
The Creative Tax Solutions team will act quickly in order to negotiate a settlement that will put your business on the approved direction of recovering from trust fund penalty connections. On your behalf, we will contact the IRS and convince them that it is in the government’s interest to work with you and that they will get more money in the long run by setting up a payment settlement arrangement, all while keeping your business open. Without the experience of an experienced tax team, it is very likely the IRS will opt to close your business, so the decision to choose a team with the most expertise is very important.
The IRS will also pursue any business owners and anyone within your organization who had a hand in using payroll trust funds for other uses. The only two options to remedy the situation are to either pay the amount in full, or to hire our team, as we are experienced in resolving payroll trust fund problems and are confident we can bring the case to a successful settlement.
Contact us today to schedule an appointment with a specialist from Creative Tax Solutions.
Payroll tax return cases are now resolved with ease
As an employer, it is you who are held responsible for paying payroll taxes. According to the state and federal laws, this procedure involves making deductions from employees’ salaries, reporting them, and filing forms as required by the IRS. But what if you didn’t manage to get around to withholdings or missed the due date? In the event of the failure, you risk incurring exorbitant debt interest rates, trust fund recovery penalties, or business shutdown.
Even if you use third-party payroll tax services, that doesn’t mean you no longer have to file taxes on behalf of your employees or make sure everything is done on time. The IRS will hold you, the business owner, accountable in case withholdings are not reported or deposited as required by the state and federal regulations.
All in all, you have to make payroll tax deductions for:
- income taxes which are withheld from the salaries of employees on a monthly basis;
- federal insurance contributions with Medicare and Social Security taxes being included;
- unemployment taxes which are deducted from the gross paycheck.
It’s time to handle your payroll tax problems professionally
If you have unpaid payroll taxes because of personal negligence or third-party failures, feel free to seek assistance at Creative Tax Solutions. Our team is comprised of highly experienced CPAs and enrolled agents who will go all out to negotiate a settlement with the IRS specialists on your behalf. We are here to take care of all tax issues you have to face.
Request a free, no-obligation consultation at Creative Tax Solutions to find out how you can save your business and avoid the shutdown. We’ve got the capabilities to represent you at any level and simplify your tax headaches.
Leave it to us, and we will reach a satisfactory resolution no matter what!
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I had a small issue with this company and they worked it out immediately. I was very happy with the response of the owner and would not have a problem recommending this company to others.
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These folks are the real thing. If you have tax problems, I highly recommend them. Top notch team of professionals. I had over 100k of tax debt. This the only company that helped me.
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