By now, just about everyone has heard of PPP loans, EIDL Loans, and the various grants available to employers that have been negatively impacted by COVID-19. However, there is another COVID relief program that many people don’t know about called the Employee Retention Tax Credit (ERC). It’s largely unknown because when it was first rolled… Read more »
If you’re having tax problems
Category: Payroll Taxes
Your business faces several tax bills each month. Failure to file either payroll or sales tax with the IRS can cost your business more than expected.
Failure to submit payroll taxes to the IRS can result in penalties against you and your business. If you have a valid reason as to why the taxes were not paid, the federal agency may consider waiving or reducing your penalties. With the guidance of your tax attorney, you can try to get your penalties… Read more »
While you can work with a tax preparer to file your annual taxes, there are situations where you should seek representation from a tax attorney. Some instances where it can benefit you to hire an attorney include: if you’re facing a tax audit; if you’re being charged with tax fraud; if you have a large… Read more »
As an employer, you are required to pay employment taxes to the IRS for each of your employees. Failure to do this can result in penalties from the IRS. Find out what taxes you should be paying to the IRS, what penalties can result from unpaid taxes, and how an attorney can help.
Failing to file your tax returns and paying the IRS what you owe can result in tax evasion. This is considered a serious crime and come with severe consequences. Take a closer look at what is considered tax evasion, what penalties the IRS can assess to offenders, and why you need a tax attorney to… Read more »
The Trust Fund Recovery Penalty (TFRP) is a severe tax penalty assessed against individuals who fail to comply with certain payroll tax obligations. You may have several defenses and appeal options if the IRS assesses the TFRP, so contact a tax attorney for assistance.
A tax audit is a time to prepare and not to panic. Many companies are requested to supply documents to support deductions, and if your company keeps good records, a tax audit can be a simple inconvenience. The important thing is to prepare for your date with the tax auditor. He or she can… Read more »
Independent contractors and self-employed taxpayers may not have to worry about wage garnishments, but that doesn’t mean they entirely free from IRS collection actions. The IRS has many other collection powers at its disposal, so you’re better off resolving your tax problems through negotiation or a settlement.
If you are an employer or employee who has fallen behind on payroll taxes and are now facing a hefty bill from the Internal Revenue Service, ignoring it will not make it go away. When it comes to unpaid payroll taxes, the IRS often comes down much harder on taxpayers than they do with unpaid… Read more »