Payroll Tax Liabilities FAQs

Payroll Tax Liabilities FAQs

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Payroll Tax Liabilities FAQs

Does The IRS Treat Payroll Taxes Different From Income Tax Cases?

Absolutely, the IRS will pursue these cases with a high level of aggressiveness. The IRS views the use of payroll tax funds to operate the business, as theft. The IRS actively and swiftly pursues these cases. Of all the penalties assessed by the IRS, those for failure to pay payroll tax liabilities are the most egregious.

If I Did Not Pay My Payroll Tax Liability Under A Corporation, Can IRS Come After Me Personally?

Yes, they can and will, if allowed to. The IRS can access the “Trust Fund Recovery Penalty” against all “Responsible Parties”. The IRS has some interesting ideas about who is a “Responsible Party” The assessment of the “Trust Funds Recovery Penalty (TFRP) against a “Responsible Party” is very tricky, statute intensive and time critical. This is definitely not a help yourself situation. The consequences can be devastating!

Will The IRS Work With Me If My Company Owes Payroll Taxes?

Yes, but an in-business on payroll tax non-compliant business is on the edge of disaster. If the business continues to not pay payroll tax liabilities and continues to operate, the IRS has to make a decision. Do they let the business continue to operate, hoping to allow to business to pay back tax liabilities or do the general public a service and shut the business down. If either is your situation, get some help by calling 800-829-7483 (800-Tax-Site)

Can The IRS Seize And Sell My Business Assets?

Yes they can and will, if the business continues to operate without paying past and current payroll tax liabilities. The IRS will first file a tax lien, which is usually devastating to a business owner. If that does not get your attention, they will attempt to levy your account receivable.

Can I Make An Offer In Compromise To Settle My IRS Payroll Case?

Yes you can. An in-business Offer In Compromise is extremely difficult to obtain but not impossible. It requires a specific set of circumstances.

Can The Trust Fund Recovery Penalty Be Settled In A Personal Offer In Compromise?

Yes it can. Once assessed against the “Responsible Party” it becomes part of the person’s personal tax liability and may be negotiated in an Offer In Compromise.

Let the experts at Legacy Tax & Resolution Services represent you. Work with our team of Certified Tax Resolution Specialists to resolve your issue(s) quickly. Best of all, you don’t have to talk to the IRS or State; we can speak on your behalf.

FOR A FREE CONSULTATION

Call 800-829-7483 or fill out the form below.

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