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Payroll Tax Representation
If the taxpayer owns and runs a business and she has failed to pay her payroll taxes or has forgotten to file her payroll tax returns, the IRS could levy, lien or seize the taxpayer's assets with regard to her business.
This could include her accounts receivables, her equipment needed to run the business, any vehicles she uses for her business, access her bank accounts, real property, and, in the worst case scenario, shut down her entire business. The IRS's position is if you're not able to pay your payroll taxes you should not be in business.
Regardless whether the taxpayer has had their business closed by the IRS, declared bankruptcy or continues to be open and in service, the IRS could still try to get the money for any unpaid debt. The IRS could look to the taxpayer who is the owner, her officers, or even her employees to try to collect any unpaid payroll tax debt.
If the taxpayer has employees, she must withhold FICA and other income taxes. However, the taxpayer is not required to segregate any of the withheld amounts from other sources of funds.
The amount that the business owner has withheld becomes the property of the Treasury. These are commonly known as Trust Fund Taxes. These do not in any way represent the debt of the taxpayer or the amount.
If the taxpayer does not pay the money over to the IRS, actual liability will apply to the people who were responsible and failed to collect, account for and pay the withholding taxes. The liability may fall to more than one person and the amount of the said penalty would have to be collected.
If the taxpayer gets involved with a company who has any existing payroll tax issues outstanding, it could be the taxpayer that ends up paying the Trust Fund recovery penalty. If the Fund has already been assessed, the taxpayer could actually seek some kind of tax relief. If the taxpayer is the business owner and still has payroll issues outstanding, she could face more severe action against her. The objective at this point is to stop additional debt from accruing on the already outstanding payroll issues.
If the taxpayer needs any other information about payroll tax issues, she may call us for a free and confidential consultation. We want to help the taxpayer realize she is not alone and that we can help. We have highly qualified tax lawyers, enrolled agents and CPA's to help the taxpayer. We can help the taxpayer appeal against the assessment of a trust fund recovery penalty and any other queries or problems relating to payroll tax. We can help the taxpayer get a fresh start.