US Federal Tax Services - Payroll Tax Issues
When the IRS means business, don't go it alone. Quite simply, payroll tax delinquency can spell serious trouble; our professionals have experience representing businesses facing such a challenging and complex legal and tax issue. Squaring off against the IRS regarding unpaid payroll taxes without expert representation is a surefire way to risk not only incurring severe financial penalties, but also possibly even losing your business all together. The Internal Revenue Service approaches payroll tax audits very seriously, and so should you.
Essentially, payroll taxes are the federal and state taxes that employers legally withhold from employees' paychecks, including income taxes, FICA, Social Security and Medicare. The IRS trusts employers to withhold a certain percentage of each employee's wages for each different type of tax and, in some cases, make an additional matching payment to the IRS on behalf of the employee. The key word here is TRUST. The IRS may conduct a payroll tax audit if it believes that an employer has failed to make even one payroll tax payment or file one payroll tax return, and the penalties and interest can accrue significantly in a short period of time.
Additionally, since the IRS views payroll taxes as a "trust" tax, a failure to file a return or pay taxes can lead to criminal prosecution. Either way, if your business receives notice the IRS is auditing you for delinquent payroll taxes, the first thing you should do is seek expert representation. We have helped numerous businesses to navigate the treacherous waters of a payroll tax audit. We are well versed in all the most current tax laws and have more than a decade of experience representing businesses facing a dreaded payroll tax audit. There is no question that any audit from the IRS can cause a scare, but a payroll tax audit is often particularly tricky. We can not only take the burden off of you, but also make sure that you get a fair judgment from the IRS as well.