You have filed your returns but didn't have the money to pay what was owed. You may think, "Oh well---I will catch up next year." Before you know it you find yourself several years in arrears and suddenly there is a notice from the IRS, stating that you owe three or four times the original amount.
Do you owe taxes to the IRS or your home state?
It's truly amazing how fast tax penalties and interest add up. Now you have a choice, you can write a big fat check and pay the full amount, including interest and penalties. Or you can just keep ignoring them while the penalties and interest keep piling up. Luckily, we offer several options when it comes to resolving unpaid taxes. Please complete the form below to get a free consultation with our tax specialist.
Penalty for unpaid or late taxes is severe. In addition the IRS and the state assesses interest rate, that combined with the penalty often becomes impossible to pay off. This can start a cycle of financial hardship that not only affects a taxpayer but his/her family, business and future.
Paying your tax liability on time is key but if you've been delinquent or unable to make your full tax payments we can help relieve the burden by negotiating with the IRS or the state on your behalf to either reduce the entire amount owed or create fair payment plan so you can start paying down the debt in a comfortable manner.
Please contact our office to get a free consultation with our tax specialist.
We help clients reduce their tax debt through an Offer in Compromise (OIC) or a Partial Payment Installment Agreement. (PPIA). Both services offer benefits to clients, depending on their unique financial situations. The service will include:
The IRS views failing to pay payroll or sales taxes as the cardinal sin of tax delinquency because a large portion of the payroll taxes are your employees' withholdings.
Not paying your company's payroll taxes is tantamount to stealing your employees' money in the eyes of the IRS. As a result, penalties for failing to pay your payroll taxes and filing your payroll tax returns on time are much more severe than other types of penalties. They can drastically multiply the amount you owe in a very short time.
The IRS is extremely aggressive pursuing collection of this type of tax. They would rather seize your business assets, close you down, sell your assets at auction, and put you out of business than allow you to continue amassing additional payroll tax liabilities.
If you are behind on your payroll or sales taxes, DO NOT meet with the IRS on your own. How you answer their initial questions can determine whether you stay in business or not. It is critical you hire a professional representative who knows how the IRS operates. Get a free consultation on how to resolve your payroll tax problems. Contact us today.
Help for unpaid sales or payroll taxes. Speak to an accountants in New York City / New Jersey
NJ / NYC Accountants and Business Advisors | Income Tax Filing | New York City & 10007 and Montclair, NJ 07042
OnPoint For Business! NYC & NJ Tax Accountants