Payroll Tax Settlement
The tax resolution experts at Victory Tax Solutions would be honored to serve you and earn your trust, while saving you the most money and resolving your IRS debt in the shortest amount of time possible.
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If you are a business owner with employees and you have not filed and paid your IRS Payroll Taxes, the IRS will notice. The IRS requires that you withhold and pay quarterly Federal Income Tax, Social Security and Medicare taxes from your employees’ wages. How much should be withheld depends on the employee’s Form W-4 and statutorily set percentages.
If you owe back IRS Payroll Taxes, the IRS can and will be very aggressive collecting them. The penalties the IRS can assess to a liability can drastically increase the amount owed in a very short period of time. The failure to make timely deposits is a large portion of these penalties.
Not only is your business at risk, but you may be personally liable for any or all IRS Payroll Taxes owed. If the IRS determines the business cannot pay its past due taxes, they will then focus on any individuals who the IRS deems as responsible.
If you owe back IRS Payroll Taxes, Victory Tax Solutions may be able to help by designing a plan for paying those taxes and negotiating with the IRS so you don’t get assessed with a bank levy or lien.