IRS or State Wage Levy - 1099 Independent Contractors, Small Business Owner or Self Employed

June 27, 2012 - PRLog -- We will start with the good news...

If a 668 -W(C) has been issued on your Employer Identification Number (EIN) or on your Taxpayer Identification Number (TIN) or on your Social Security Number (SSN), the amount that is due to the Internal Revenue Service (IRS) is ONLY the amount of funds / income due the independent contractor on the date listed on the Tax levy (668-W). Funds need to be withheld even though you plan to pay the contractor on a later date.

The Vendor / Employer need to be careful as well...Not complying with IRS demands can be detrimental, the funds not withheld properly could then become an amount owed by the party instructed to comply. Yikes!!

The number one culprit initiating invasive collection efforts from the IRS or State are unfiled or missing tax returns. Business tax return properly prepared can be your best friend. A subpar tax return can hurt you, your business of family for many years to come. The IRS has a secret weapon called Substitute Filed Returns (SFR) in which the IRS can create a tax return to, in return, create a tax liability that can be attached to an unfiled, non compliant Taxpayer. This liability from an SFR is created without deductions or exemptions, and bet your bottom dollar, is, collecting penalties and interest.

Got nowhere to turn? Not sure who to trust? Unsure if you can afford Tax attorney representation? Call 1 - 8 6 6 - 2 2 6 - 6 1 0 2 for a FREE detailed Tax Analysis. This may be the most important 20 minute conversation to steady the financial turmoil a wage levy can cause.

We will treat you like family and treat the Tax Debt / Liability as if it were our own.

If you are ready to make conscious change, but, you need someone to trust and look out for your best interest contact the protector, DWK Tax Group. Get this thing handled correctly the first time around.

Thank you for your time in advance...