What to do when you owe the IRS back payroll taxes
A payroll tax problem is the most serious type of tax you can owe the IRS. The IRS monitors all employers to see when you are late with payroll deposits. I don’t mean to twist the knife, but if you have back payroll taxes, you will be assigned a Revenue Officer. He or she will come to your place of business and will be very aggressive about collecting from you and finding information. The Revenue Officer will subpoena a bunch of financial documents. The Revenue Officer may or may not show you respect and understanding. The Revenue Officer will one one hand, ask that you borrow money on one hand, and then on the other hand, file a Federal tax lien against you on the other hand so that you can’t borrow money. (Note: this is not their fault, this aggressive lien filing stance is the policy of the highest level of the IRS)
The process of owing the IRS back payroll taxes is an invasive, horrible, stressful feeling. If you are experiencing this, you are not alone. And through this all, you have to assure your employees that everything will be alright, assure your customers all will be well, when in fact, you may not be sure of any of these things.
Back payroll taxes can be explosive situations. Use expert diffusers only
To help stop that slow sinking feeling, this article will show you all the options available to you when you owe the IRS back payroll taxes.