My Business Owes Payroll Taxes
Payroll tax problems are the most dangerous IRS situation a business owner can face. Personal liability is automatic.
The Problem
Your business withheld income tax, Social Security, and Medicare from employee paychecks but didn't deposit the money with the IRS. The Trust Fund Recovery Penalty under IRC section 6672 makes every "responsible person" personally liable for 100% of the unpaid trust fund taxes. That means the IRS can pursue your personal bank accounts, your home equity, and your personal assets.
The Solution
Get current immediately. The IRS won't negotiate while you're still accruing new payroll tax liability. Then defend against the TFRP assessment by showing you weren't a responsible person or weren't willful. These are legal defenses requiring an attorney.
Payroll tax cases get Revenue Officers and they move fast. Call me today.
Free consultation. I'll pull your transcripts, assess the damage, and give you a plan. 32 years of IRS experience.
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