Have you filed your tax returns for your business income in the US? People who don’t pay their business taxes on time face severe challenges like IRS audits, penalties, and charges. Nobody wants to be known as a tax evader; that’s why you prepare your taxes and use Form 1099 to report.
In most cases, you will certainly face hefty penalties for your unpaid taxes. The IRS will check whether you have made the mistake intentionally or not. IRS has a strict stance against fraud in the US. A penalty of 75% of your unpaid tax might be effective. Further, situations like liens and wage garnishment might arise.
It is better to contact the Leading Tax Group, an agency of Tax Consultants, Tax Attorneys, Enrolled Agents, and Former IRS Auditors helping businesses and people running those businesses.
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
Failure to report your business income will surely result in strict IRS actions. If the officials in the IRS get familiar with your debt via multiple channels, it will trigger an IRS tax audit and further tax investigation.
Tacking these processes is not that simple, especially with a lack of tax knowledge. The only reasonable way out is to contact the Leading Tax Group. We have a group of tax experts who will look into your matter seriously and find the best solution designed only for you. This is the best way to avoid financial loss, legal trouble, and damage to your reputation in the market.
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Managing tax matters is really difficult for an individual or a business organization without any prominent help. When experts are not around you, you barely know which path to take for settling your debts and avoid penalties and other major tax implications.
Thus, it is wise to contact the Leading Tax Group, an agency of Tax Consultants, Tax Attorneys, Enrolled Agents, and Former IRS Auditors. We will assess your current situation, find possible ways outs, and choose the absolutely best one. Our experts will assist you to have Installment offers and Offers in compromise to come out of the debt trap.
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.
After making a profit in your business, if you don’t pay your taxes in full, there is unreported business income. Technically, it is not right as per the laws. If the IRS finds out, they will take strict action against your company.
As per experts working in the Leading Tax Group, you will have to face some major consequences for unreported business income. Penalties are the most common. 20% of your total unreported tax will be charged as a penalty. You might also face criminal charges as well.
IRS has different means to detect unreported business income in the US. Any mismatch in your tax forms, like Form 1099, will act as an indicator. Banks, audit companies, and other organizations report directly to the IRS. It is hard to avoid the IRS agents.
When you are facing an eminent penalty situation, better to look for tax experts. Leading Tax Group is here for your help. We can prepare an amended return and settle your pending taxes. There are other ways to deal with these issues like negotiations and all.
Once the penalty is imposed on your company, it is hard to avoid that, but not impossible. Leading Tax Group, an agency of Tax Consultants, Tax Attorneys, Enrolled Agents, and Former IRS Auditors known for its innovative ways of dealing with the IRS. We might go for voluntary disclosure or showcase reasonable causes to get some relaxation from the IRS.
info@LeadingTaxGroup.com
Mon-Friday : 7:00am - 6:00pm 
800-900-4250