Payroll tax liabilities represent the taxes collected by an employer on behalf of an employee, as well as the employer’s portion of the taxes. These taxes are required to be paid to the Internal Revenue Service. Many small businesses fall behind in paying these liabilities. Once a business falls behind, it is very difficult for it to catch up.
When a company falls behind on paying payroll taxes, it needs to obtain legal counsel to protect its interests.
Through David Coffin PLLC in Southlake, Texas, David Coffin, J.D., C.P.A., represents businesses that have fallen behind on paying payroll taxes to the IRS. He works to get companies back on track and to protect individuals from the IRS when their companies fail to pay payroll taxes.
During Mr. Coffin‘s career, he has helped many businesses resolve their payroll tax liabilities problems. Retain his law firm, and he can answer your questions about payroll taxes, such as whether the IRS will shut down your business, and if so, if you will still be required to pay payroll taxes. It is important to seek legal counsel immediately when your company begins to fall behind; however, he can help you whether or not the IRS has already become involved.
Ignore The Trust Fund Recovery Penalty At Your Peril | Dallas Payroll Tax Problems Attorney
Payroll tax liabilities are treated differently from income tax liabilities. Penalties for failing to pay these taxes can be severe. If you receive notice that a “trust fund recovery penalty” has been proposed against you (IRS Letter 1153), you need to protect yourself.
This penalty can be imposed personally against company officers and anyone who has check-signing authority. Once this penalty is assessed, it is difficult to avoid IRS collections efforts.
Further, payroll tax debts are different from other tax debts in that they are assigned locally to individual IRS revenue officers who are very aggressive and take their jobs very seriously.
The best path is to avoid the issue altogether by retaining a qualified attorney who can work out your tax issues with the IRS and potentially avoid the trust fund recovery penalty.
Southlake Payroll Taxes Owed? Attorney Coffin Can Protect You And Your Business.
If you have been contacted by an IRS revenue officer for an interview to discuss a company’s failure to pay payroll tax (IRS Form 4180), it is important to seek an experienced tax lawyer who can protect you and your business from the negative financial and personal consequences. Whether you use David Coffin‘s firm or another, it is imperative that you seek counsel immediately.
For more information about how Mr. Coffin can help you or your business resolve a payroll tax issue, contact him at David Coffin PLLC in Southlake, Texas, today. You may reach him online or by calling 817-756-1792.