How Long Before IRS Comes After a Corp. for not Paying Payroll Taxes? 940/941 Problems.

Nov. 1, 2010 - PRLog -- Not paying payroll taxes? What is the penalty for not paying employee taxes? Is there a penalty for not paying employment taxes?

Read on to get informed...

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DWK TAX provides all 50 States, including Hawaii and Alaska, with IRS Tax Debt Relief.

IRS PAYROLL TAX PROBLEMS - 940 / 941 TAX PROBLEMS

Not only is your business at risk--you may be personally liable for 940/941 Tax, as well.

According to the IRS, a responsible person is a person or group of people who have the duty to perform and the power to direct the collecting, accounting and paying of trust funds. This person may be:

- an officer or an employee of a corporation

- a member or employee of a partnership

- a corporate director or shareholder

- a member of a board of trustees of a nonprofit organization, or

- another person with the authority and control to direct the disbursement of funds.

Once the IRS has determined the business cannot pay its past due payroll taxes (940/941 Tax), the IRS will then turn their sights on the individuals who they say are responsible for the 940/941 Payroll tax violations...LOOK OUT!

Trust Fund Recovery Penalty

IRC Section 6672(a): Any person required to collect, truthfully account for, and pay over any tax imposed by this title who willfully fails to collect such a tax ( Employment Tax, Payroll Tax, 940 / 941 Tax), or truthfully account for or pay over such tax, or willfully attempts in any manner to evade or defeat any such tax (940/941 Tax) or the payment thereof, shall, in addition to other penalties provided by law, be liable to a penalty equal to the total amount of the tax evaded, or not collected, or not accounted for and paid over.

If your business has employees you are required to pay Employment tax / payroll tax / 940 / 941 Tax. Depending upon the size of your payroll you may be required to make Employment tax deposits with the IRS as soon as the day after you pay your employees. If you fail to pay your Employment Tax / Payroll Tax, 940 / 941 tax on time then the IRS imposes interest and penalties. If you let things go too long the IRS penalties and interest can be larger than the amount of the original Employment tax, Payroll Tax, 940 / 941 Tax.

The IRS will file Tax Liens and the IRS will Levy your Bank account. The IRS can and will padlock your business should you continue to do nothing.

The IRS will continue (that's what the IRS does) to use Enforced Collection when it comes to unpaid Employment Tax, Payroll Tax, 940 / 941 Tax and unfilled payroll returns. Enforced Collection can include an IRS levy on the assets of the business, including the accounts receivable, equipment, automobiles and your bank account. The IRS can also padlock a business for non-payment of Employment Tax, Payroll Tax, 940 / 941 Tax. If the business is closed or files for bankruptcy protection, the IRS will look to the owner of the business for collection of the penalties, interest, taxes and trust funds. In the case of a corporation or partnership, the IRS will look to the person responsible for paying the Employment Tax, Payroll tax, 940 / 941 Tax to collect the trust funds. This is known as the Trust Fund Recovery Penalty.

Do you want some Good News? Call DWK TAX GROUP today.

Solutions for your Employment Tax, Payroll Tax, 940 / 941 Tax problem may include:

1. Submitting an IRS Offer in Compromise to reduce your payroll tax debt;
2. Obtaining a short-term deferral of your Employment Tax / Payroll tax debt so that you can have time to get back on your feet;
3. Negotiating an IRS Installment Payment Agreement so that you can pay your payroll tax debt over as long as 10 years or more;
4. Reviewing your tax accounts to determine whether or not the IRS has correctly calculated your payroll taxes;
5. Determining whether the time the IRS has for collecting your Employment Tax / Payroll / 940/941 tax debt has expired, or will expire soon;
6. Negotiating releases of federal tax liens so that you obtain a loan to pay-off your taxes;
7. Having your Employment Tax, Payroll tax, 940 / 941 Tax debt declared currently uncollectible so you can have a tax holiday from your old payroll tax debts;
8. Obtaining releases of Employment Tax, Payroll tax, 940 /941 Tax levies;
9. Filing claims for penalty and abatement abatement.

DWK TAX GROUP will not accept your Case if we cannot save you money.

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Call us when you need answers, call us, when you are ready to make conscious change.

Call the Nationwide Pioneer in IRS Wage Garnishment Releases. Finally, a firm with service and integrity at the top of the DWK Tax Group's priorities. DWK will get you on the correct path to viable and sustainable strategy to tangible solutions to your IRS Back Taxes.

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http://dwktaxgroup.com: Your Nationwide Internet Tax Resolution Company provides all 50 States, including Hawaii and Alaska, with IRS Tax Relief representation. We WILL Stop Your IRS Wage Garnishment / IRS Levy within 1 to 2 Business Days.