Payroll Tax Problems

All businesses, large and small, are required by the U.S. tax code to pay payroll taxes on IRS Form 941. The IRS equates failure to pay your payroll taxes on time with stealing from the federal government and the penalties and interest charges will compound each pay period. If you're behind on payroll taxes and the the IRS has started aggressive collection efforts with your business, they won't stop until they get their money and they may resort to criminal prosecution. Tax attorney Dale O'Neal can help.

How Payroll Problems Start

Sometimes businesses experience payroll tax problems because the funds set aside for payroll tax deposits are used for other expenses or are mismanaged. If a business owner is experiencing a lag in cash flow, he might decide to borrow from the company's payroll withholdings to pay off some bills with the intention of catching up before the IRS takes notice. But, the IRS is watching and before long the tax penalties and interest build up and lead to major tax problems that can threaten the life of the business. If your business doesn't have the cash or assets to pay your back payroll taxes, the IRS will not hesitate to go after individual owners.

Before your payroll tax problems escalate, contact tax attorney Dale O'Neal at 817-877-5995 for a consultation. He can represent you in tax court and work directly with the IRS to find a way to pay off your tax debt.