If there is one tax that you need to stay on top of more than any other it is your payroll tax. Your employees are trusting you to pay their withheld taxes accurately and on time each period they are due. Failure to do so could cause problems with both the tax agencies and your staff.
As a result, penalties for failing to pay your payroll taxes and filing your payroll tax returns on time are much more severe than other types of penalties. They can drastically multiply the amount you owe in a very short time.
If you are behind on paying payroll taxes for your company the IRS will pursue collection of this type of tax.They will begin with a mailed notification and escalate from there. Please know that ignoring the notices does not make them go away.
If you are behind on your payroll taxes please Contact me today to schedule a consultation. You'll be glad you did.