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A payroll tax is a portion withheld from an employee's salary, remitted to the government to fund public programs.
For many businesses, the onset of financial difficulties often leads to the untimely payment of payroll taxes and the late filing of payroll returns. Both of these actions are considered highly detrimental when a company is facing financial challenges.
The IRS has recently intensified its efforts to collect unpaid payroll taxes from struggling business entities. In certain cases, a Revenue Officer may take actions such as asset seizure or even business closure if they deem it necessary. Our team of Tax Professionals is highly skilled in managing payroll matters, including Forms 940 and 941, as well as corporate taxes involving Form 1120.
What are the Consequences of Ignoring Payroll Tax Issues?
Failing to address payroll tax matters can have severe consequences for businesses. When financial challenges arise, businesses may struggle with timely payroll tax payments and filing obligations. This can trigger heightened scrutiny from the IRS, which is now actively pursuing the collection of unpaid payroll taxes.
In situations where businesses are unable to meet their payroll tax obligations, the IRS may deploy Revenue Officers. These officers have the authority to take significant actions, including asset seizure and, in extreme cases, business closure. It's crucial for businesses facing financial difficulties to proactively manage their payroll tax concerns to avoid escalating consequences.
Our team of skilled Tax Professionals specializes in navigating the complexities of payroll tax matters, including the handling of Forms 940 and 941, as well as corporate taxes involving Form 1120. If your business is in Corona, California, and you need assistance with payroll or corporate tax issues, contact Tax Alliance at 800.987.3051 or visit our website: TaxAlliance.com. Let us help you navigate and resolve your tax challenges today!
Are Certain Properties Immune from Seizure or Forfeiture?
Under California law, families are safeguarded from the seizure of their primary residence. If a home serves as their main dwelling, it is exempt from being seized. Additionally, law enforcement is prohibited from taking possession of real estate owned by two or more individuals if one of the owners was unaware that the property was utilized for any illegal activities.
Because of advancements in our technology, we are able to communicate with the IRS electronically, its as if we are in the same office! Faster service and more cost effective!
If you are not happy with our tax services within the initial 21 days, we will give you a 100% refund of services rendered, no questions asked!
You find it, we will match it! Tax Alliance will match and beat (by 10%) any competitive offer. Contact our office today and receive a free no obligation tax consultation.
Because of advancements in our technology, we are able to communicate with the IRS electronically, its as if we are in the same office! Faster service and more cost effective!
If you are not happy with our tax services within the initial 21 days, we will give you a 100% refund of services rendered, no questions asked! We help our clients nationwide!
You find it, we will match it! Tax Alliance will match and beat (by 10%) any competitive offer. Contact our office today and receive a free no obligation tax consultation.
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