Generally, before the IRS can levy a taxpayer's assets, it must notify the taxpayer of their right to a Collection Due Process (CDP) hearing. The IRS Independent Office of Appeals conducts the hearing and allows taxpayers to propose alternatives to…
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Managing payroll taxes is a crucial responsibility for business owners. A key area of concern arises when payroll tax deposits are not made, as this can lead to the Trust Fund Penalty, also known as the Trust Fund Recovery Penalty…
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A Trust Fund Recovery Penalty assessment is a tool the IRS uses to enforce the collection of unpaid payroll taxes. These taxes include federal income taxes and employee contributions to FICA (Social Security and Medicare). The trust fund penalty is…
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Although the economy has improved, we still receive a steady stream of phone calls from business owners throughout Palm Beach, Broward and Miami-Dade counties needing help resolving payroll tax problems. When facing a cash flow problem the owners of a…
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If you hire a domestic worker to provide services in or around your home, you probably have a tax liability that you don’t know about – or one that you do know about but are ignoring. Either situation can come…
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Have you been notified by the IRS that your Company will undergo a payroll tax exam? Are you worried about misclassified workers? As a business owner, you are obligated to collect and remit payroll taxes for your employees. But you…
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When a business employs people, they become responsible for employment taxes in two ways. First, the business must withhold part of an employee’s wages in order to pay income taxes, Social Security taxes, and Medicare taxes. These payroll taxes are referred…
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The COVID-19 epidemic has created situations where employees are not able to work because they tested positive for the virus or have been quarantined as a result of a governmental order. It has also caused parents to miss work because…
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Considering how many priorities, problems, and distractions a business owner deals with every day, it should come as no surprise that IRS payroll tax issues may arise. Whether you filed your payroll returns late or failed to make payroll tax…
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If you're a small business owner you may have experienced unpaid payroll tax problems at one time or another. Once you fall behind in making your payroll tax deposits it can be difficult to catch-up. (more…)
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