Businesses must withhold payroll taxes from employee wages, which they need to pay to the federal government as IRS taxes. Businesses must deduct Social Security at the same time they handle Medicare deductions alongside paying federal income taxes. Accurate withholding and depositing of these taxes fails to result in the IRS levying large tax liabilities plus financial penalties.
The IRS imposes fines together with legal action against organizations that fail to meet their payroll tax payments, but following incidents, it takes steps to recover unpaid amounts. The IRS establishes payroll tax settlement agreements as legal arrangements between business taxpayers and itself for debt resolution through mutual negotiations about penalty cuts along with interest deductions and payment agreement terms.
If you are interested in a tax settlement or if you have received a settlement offer from the IRS, now is the time to call Leading Tax Group. Our tax settlement professionals (whom include former IRS tax attorneys) are always ready to work with you and provide you with the information and representation you need.
800-900-4250
Payroll tax settlement requires you to follow multiple steps to solve your IRS tax debt issues. The first step involves determining the full sum of expenses together with interest charges and fines. Addressing the issue immediately becomes necessary since the IRS can execute levying business assets while requiring liens on property. The negotiation process allows you to reach tax liability settlement terms by using an Offer in Compromise (OIC) or establishing installment payment plans.
During this process, you need to show the IRS proof of your business’s financial constraints through proper documentation. Tax Attorneys from the Leading Tax Group can help you gather all the relevant documents and present them in front of the IRS. It will keep your compliance record on track.
Your objective will be to establish appropriate solutions that help your company fulfill payroll tax obligations while maintaining normal business operations.
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Leading Tax Group dedicates itself to resolving payroll tax issues between businesses and the IRS. We conduct financial checks to create correct documentation for your case alongside representing you for IRS negotiations so you can obtain either minimized settlements or payment plans with structured terms.
Our legal team puts in significant effort to reduce penalties while stopping IRS actions that include wage garnishments along with levies and liens against your business. Leading Tax Group provides you with full professional support during payroll tax settlement tasks to maintain your business’s IRS compliance without liability risks.
Headquartered in Encino, California with multiple local branch offices in your backyard to serve you at your convenience. Leading Tax Group can schedule a face to face consultation to represent your case with the IRS, FTB, EDD, as well as CDTFA Audits.
Business owners can be held liable under the Trust Fund Recovery Penalty, and they will remain in that state until the dues of unpaid payroll taxes are settled.
IRS can seize the assets if the taxes remain unpaid for many years and thus increase the penalties on the business, which might affect operations.
Even after going into a settlement, the IRS can still conduct Payroll Tax Audits if further discrepancies are discovered.
Yes, a business can continue its operation but still needs to adhere to the guidelines of the IRS regarding payroll settlement. Following that will not disrupt the operations of the business.
info@LeadingTaxGroup.com
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800-900-4250