Frequently Asked Tax Questions- Payroll Tax – And The Answers You Need From Joe Mastriano, CPA.

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Frequently Asked Questions On IRS Payroll Tax: The Most Common Concerns We Here From Our Clients.

WHO IS LIABLE FOR UNPAID PAYROLL TAXES?

All responsible parties. — See Payroll Tax

IS THE INTEREST ON UNPAID PAYROLL TAXES DEDUCTIBLE?

Yes.–See Penalties And Interest

HOW MUCH TAX SHOULD BE TAKEN FROM MY PAYCHECK?

That depends on your other sources of income and your deductions.

The best way to tell is to do a preliminary tax return and see if you will owing or not. — See Payroll Tax

PENALTY FOR FILING 941 PAYROLL TAX LATE?

Yes. — See Payroll Tax

INTEREST FOR FILING IRS FORM 941 PAYROLL TAX LATE?

No, only paying late. — See Payroll Tax

DIDN’T FILE MY W-2′s, I FILED LATE!

Don’t sweat it. We can help you! Contact Form

See IRS Solutions

MUST I HAVE MY W-2 TO FILE MY TAXES?

No. Just the information. — See IRS Solutions

DIDN’T FILE MY 940 FORM!

Don’t sweat it. We can help you!  Contact Form

See IRS Solutions

WHAT IF I CAN’T PAY MY PAYROLL TAXES? Or “IRS Garnished My Wages”

Please click on IRS SOLUTIONS above.

WHAT IF I CAN’T PAY MY 941 TAXES?

Please click on IRS SOLUTIONS above.

SMALL BUSINESS HELD LIABLE FOR UNPAID PAYROLL TAXES! WHAT HAPPENS IF EMPLOYMENT TAXES ARE NOT PAID TO THE IRS?

The IRS has the right to close businesses and sell their assets to collect past due payroll taxes. See Unpaid Payroll Tax.

I OWE PAYROLL TAXES! CAN THE IRS FILE A TAX LIEN AGAINST MY BUSINESS?

Yes. The IRS can send levies to all individuals that owe money to your business. See more on Payroll Tax.

I AM RESPONSIBLE FOR PAYROLL TAX LIABILITIES! I AM HELD LIABLE FOR UNPAID PAYROLL TAXES! I NEED HELP!

We can help you negotiate an installment agreement with the IRS. See more on Unpaid Payroll Tax.

MY COMPANY HAS DELINQUENT PAYROLL TAXES! WHO IS RESPONSIBLE FOR PAYROLL TAX LIABILITY?

It depends. Unpaid Payroll Tax can be assessed against bookkeepers, accountants, EA’s, CPA’s and other persons with check signing authority. See more on Payroll Tax.

I AM A SMALL BUSINESS OWNER! I NEED HELP WITH DELINQUENT PAYROLL TAXES! WHAT SHOULD I DO IF I OWE PAYROLL TAXES?

The IRS does not have mercy for employers who do not deposit employees’ withholding or social security taxes. Consult a tax professional and settle an affordable payment plan with the IRS. Contact Form

See more on Payroll Tax.

I AM LIABLE FOR UNPAID EMPLOYMENT TAXES! WHAT IS THE TRUST FUND RECOVERY PENALTY?

The Trust Fund Recovery Penalty is the amount an employer withheld from his employees for Social Security, Medicare and income taxes. When an employer fails to deposit these federal payroll taxes, the IRS will assess a Trust Fund Recovery Penalty. See More On Payroll Tax.

CAN THE IRS HOLD ME LIABLE FOR UNPAID PAYROLL TAXES?

The IRS will check within your company who was in charge, and failed to pay IRS employment taxes. In determining who is responsible for unpaid payroll taxes, the IRS uses several factors. Most of the time, the person in charge of signing checks will be liable for the Trust Fund Recovery Penalty. Other responsible parties may be officers, payroll personnel and owners. See more on Unpaid Payroll Tax.

I OWE PAYROLL TAXES! CAN I FILE AN OFFER IN COMPROMISE TO SETTLE MY TAX DEBT?

Yes. Consider tax professional help. Contact Form

See more on Payroll Taxes.

CAN I DISCHARGE DELINQUENT PAYROLL TAXES THROUGH BANKRUPTCY?

No, not the trust fund portion. See more on Delinquent Payroll Taxes.

I OWE PAYROLL TAXES! I HAVE UNPAID EMPLOYMENT TAXES! I NEED PAYROLL TAX RELIEF!

The IRS can aggressively take collection action against your business assets. Don’t ignore the IRS when facing payroll tax problems. Consult a tax professional. Contact Form

See more on Unpaid Payroll Taxes.

I OWE PAST DUE PAYROLL TAXES! HOW CAN I SOLVE MY IRS PROBLEMS?

If you cannot pay it all at once, the solution is an Installment Agreement with the IRS. A CPA or an Attorney can help you negotiate an affordable payment plan. We offer free advice concerning past due Payroll Taxes. Contact Form

THE IRS IS GOING TO AUDIT ME! I OWE OVERDUE PAYROLL TAXES! WHAT SHOULD I DO IF I AM BEING AUDITED? I NEED PAYROLL TAX HELP!

When dealing with IRS problems for unpaid payroll taxes, hire a tax representative. The IRS takes overdue employment taxes very seriously. See more on Payroll Taxes.

WHO IS THE IRS TARGET FOR UNPAID PAYROLL TAXES?

It depends. Usually, small businesses and corporations are found with past due payroll taxes. See more on Payroll Taxes.

I OWE BACK PAYROLL TAXES. I OWE DELINQUENT PAYROLL TAXES FOR MY BUSINESS! I NEED HELP WITH IRS TAX RELIEF!

See Payroll Taxes.

THE TRUST FUND RECOVERY PENALTY IS ASSESSED AGAINST ME! WHAT SHOULD I DO? WHAT ARE MY OPTIONS?

You can appeal the IRS assessment. If you still owe money to the IRS, you could negotiate an affordable payment plan. See more on Unpaid Payroll Taxes.

I AM RESPONSIBLE FOR UNPAID TRUST FUND TAXES! IS THE IRS GOING TO CHARGE PENALTIES AND INTEREST FOR PAST DUE EMPLOYMENT TAXES?

If you are one of the responsible parties, the IRS will charge you interest on the Trust Fund Recovery Penalty beginning with the date of the assessment. Your employer is responsible for penalties for late deposits and late payments or penalties on the tax liability before the assessment was made. See more on Payroll Taxes.

If you are considering hiring us, call Joe Mastriano, CPA 713-774-4467.
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Frequently Asked Questions IRS Payroll Tax…Still In The Dark About Your IRS Issue?  Contact Us Today! Contact Form