The IRS is very aggressive when it comes to Payroll Tax Debt.
If Payroll Taxes are not paid, the IRS will immediately start trying to collect the missing taxes. If not paid, you are putting your income, assets and business at risk. In addition, the IRS will try to come after a business owners personal assets if the business assets cannot cover the debt.
If these taxes (Payroll Tax 940/941) are neglected long enough, the business may be forced to close and all assets can be seized to satisfy the debt. Regardless if the business is closed, you must make arrangements to pay the taxes. The IRS will not be deterred.
Options like Installment Agreements, an Offer In Compromise, Penalty Abatements, and Currently Not Collectible can help you get out of debt and avoid further action from the IRS. Call now to speak to the Tax Man and discuss the best option available to you.