Payroll Tax Issues

Payroll Tax IssuesAs an employer and business owner, you should know that it is extremely unwise to neglect to pay your yearly federal payroll taxes. Failing to file and pay your payroll taxes in a timely manner is a sure fire way to get into serious trouble with the Internal Revenue Service (IRS). These unpaid payroll taxes will not only lead to severe penalties and mounting IRS tax debt, but may also land you in federal prison for a number of years. The bottom line is that failure to report and fully pay your payroll taxes is a serious federal crime, and can cause you to lose not only your business but, potentially, your freedom as well.

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If you neglect or fail to pay your payroll taxes in a prompt and timely manner, you should know that the penalties assessed on such a delinquency can increase dramatically. You can go from owing $5,000 to owing $15,000 in a matter of months. If you are unable to take timely action to deal with such issues as business tax audits, business tax problems, and payroll issues, you should seek out the counsel of a qualified and professional tax attorney. Prompt action could just make the difference that saves your business and career from failure.

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