IRS Payroll Tax Relief
If your business owes IRS Payroll Tax it is at serious risk if you don’t handle this situation immediately and correctly.
It is Tax Help Hawaii’s belief that it is critical to have a DWK Tax Attorney / Tax Lawyer or an IRS Enrolled Agent represent you immediately. The longer that you wait, the more difficult the tax problem will be.
Both large and small business owners are sometimes in need of tangible IRS Tax Relief. Have all quarterly payroll returns been filed? YOU, are not Compliant if you have neglected to do so. Has an IRS Revenue Officer been to your home and/or place of business? The IRS takes Trust Fund violations very seriously.
The IRS has been heavily pursuing criminal 940/941 tax investigations in recent years. Criminal payroll tax investigations are up about 75 percent from the past.
Not only is your business at risk, you may be personally liable, as well.
According to the IRS, a responsible person is a person or group of people who have the duty to perform and the power to direct the collecting, accounting and paying of trust funds. This person may be:
– An officer or an employee of a corporation
– A member or employee of a partnership
– A corporate director or shareholder
– A member of a board of trustees of a nonprofit organization, or
– Another person with the authority and control to direct the disbursement of funds. If you could sign checks, you are a “Responsible Person”.
Once the IRS has determined the business cannot pay its past due payroll taxes (940 / 941 Tax), the IRS will then turn their sights on the individuals who they say are responsible for the 940 / 941 Payroll tax violations…look out!
Trust Fund Recovery Penalty:
IRC Section 6672(a): Any person required to collect, truthfully account for, and pay over any tax imposed by this title who wilfully fails to collect such a tax, or truthfully account for or pay over such tax, or wilfully attempts in any manner to evade any such tax or the payment thereof, shall, in addition to other penalties provided by law, be liable to a penalty equal to the total amount of the tax evaded, or not collected, or not accounted for.