Are you a business owner or a self-employed individual? If you have employees under your supervision, you are required to submit payroll taxes to the IRS and the state on their behalf. The taxes are usually submitted along with your (the employer’s) portion of the taxes.
If you do not submit pay payroll taxes, i.e. 940/941, you will be considered as a thief by the IRS, which meant you stole from your employees. To prevent our valued clients from facing business seizure or even closure, TheCPATaxProblemSolver provides payroll tax debt relief solutions.
UNDERSTANDING PAYROLL TAX DEBT RELIEF
Payroll taxes are a type of tax imposed on employers. The amount that needs to be paid comes from a percentage of the salaries. There are two types of payroll taxes: one is being paid by the employer based on the employee’s wages and the other is directly deducted from an employee’s wages.
Debt accumulation occurs when the payroll taxes are not paid. Even if one is forced to close his or her business, the party is still liable for their outstanding taxes. In this case, the affected party should seek professional assistance to determine the best course of action to resolve the tax debt problem – payroll tax debt relief.