Payroll Tax Issues

Our Chicago Tax Professionals Can Help Find Business Solutions

Failure to file payroll tax forms or deposit payroll taxes in a timely manner can result in serious fines, penalties, and in severe cases, criminal action. Because the IRS has the full support of the federal government when it comes to payroll taxes, they have more authority and can take more extreme actions against businesses who do not comply. Even if you forget to file just once or miss one deposit, the owners of the company can be held personally responsible for unpaid or unfiled payroll taxes. If this sounds familiar, you need the assistance of a seasoned payroll tax professional.

We can negotiate with the IRS on your behalf. Contact The Tax Defenders at (312) 345-5440 to learn more about what can be done to resolve your payroll tax issue.

Payroll Tax Deductions

When you own a business and pay employees, even if the employee is yourself or your spouse, you are often required to deduct payroll taxes from the employees’ paychecks. There are both federal and state taxes taken out of these wages.

The required federal payroll tax deductions include:

  • Federal income tax
  • Federal unemployment tax
  • Medicare tax
  • Social Security tax

You Must Pay on Time or Pay a Fine

It is imperative to file your payroll tax forms with the Internal Revenue Service on time. Missing just one filing can spur a slew of correspondence and threats from the IRS. This also happens when you miss even one deposit of payroll taxes. Whether you forgot or did not have the money, it does not matter to the IRS. They can and will assess penalties, fines, and come after your business and personal assets.

We Can Help Resolve Your Payroll Tax Issues

Do not wait until you begin to get threatening letters from the IRS. At the first sign of payroll tax issues, consult with our Chicago tax resolution professionals to negotiate an arrangement with the IRS that may lessen your penalties and stop collection action.

For fifteen years we have been helping clients like you work out their differences with the IRS. Contact our offices today to request a free case evaluation.