THE DEAN OF TAX INC
PALM BEACH GARDENS, FLORIDA

Business owners who fail to remit employee payroll withholding taxes (Form 941′s) are putting their companies in a position to be shut down by the IRS over payroll issues. The IRS actively collects on this type of tax far more aggressively than any other tax obligation. What You Don’t Know About Payroll Taxes That Could Put You Out of Business What You Don’t Know About Payroll Taxes That Could Put You Out of Business The IRS can do all over it to make you nasty. It may liquidate your assets and can shut down your business. In the worst case, it can put you in court. How Do Business Owners Actually Get Into Payroll Tax Trouble? Mostly, it happens when you have left with too much amount of money to pay. And, business owners continue in taking the short-term loan from their employees, in the form of payroll taxes. While, on the other side, some people intentionally try to do this and defraud the government. And, thus, get themselves into trouble of paying payroll taxes. Here, are some reasons defined, that will get you acknowledged why it is a big deal for the IRS. Owing IRS is different from owing a bank or credit card. The government has granted them the special powers to take money by reaching into your bank account. They can take your real estate, cars, boats, houses, social security benefits, and the loan value of your life insurance. In fact, it has been seen in some cases, that the commission received by the company is also seized by the IRS. While, if you have tried to defraud them, they can put you in jail. In addition to that, it has all the rights to do these with you. It can shut down your business without any court notice because, a person could not discharge from any payroll taxes, even he is dealing from bankruptcy. Personal assets may be seized out for satisfying their business payroll taxes. It is considered as a federal crime, if proven by the IRS with proof and you have not paid yet. The IRS Would Rather Close Your Business If You Have not Deal With Payroll Tax Problems! IRS is not interested in working out with your payment plan at all time. Because, if you fail to pay with the installments, in the end, there will be a bad situation for you. Plus, you may have to deal with the increased amount of payroll taxes. Since, IRS has all the rights to close down your business, it is not a big deal to them to do so. Closing with your business is not good for you, and in any way. However, you can open your business, if you have a professional law person, who can speak on your behalf or there are many tax settlement companies who are ready to make you get rid of these problems. To make IRS convince and believe, that they will be paid only if you will continue with your business. Facts about IRS Tax Settlement Firms The alarming situation for both the businesses and individuals arose when they came to know that they have outstanding tax balance and can face penalties from the IRS. Furthermore, the fear of seizing of property hinders them to run the business or to do anything effectively. The dilemma may lead to financial crisis. Coping with this type of problems, tax settlement firms jumped in for making the taxpayers get eliminated from the tax balance. Worrying with the situation, many taxpayers make the wrong choice by contacting with the firms that couldn’t help them in any way. In fact, sometimes taxpayer has to pay more penalties and interest than the original tax. In this article, we will examine the working of tax settlement firms and how they are in the best interest to you? How these firms work? The working of many tax settlement firms seem same in the aspect that they sent their agent to the IRS on behalf of the company, to make them sure that the company will pay off or to have a deal with some amount, normally smaller than the tax balance. But, hardly this seems possible because the IRS doesn’t accept any type of bargaining. The IRS may show compassion, if you prove to show all that hindrance your taxpayer has to deal during paying taxes. This means that there is the near death of the taxpayer or the taxpayers’ business is totally sunk and has no assets now to pay off the taxes. Best case may be that the company will get the time of extension from the IRS to pay the taxes. tax settlement firms have to show that the amount of tax owed is not right or paying all amounts will result in the financial hardships for the business. To qualify for this offer is difficult sometimes or in the best case, it will take several months to complete. The firms charge an amount normally depending on the size of business and the tax bills proposed. This comprises from $3,000 to $6,000. Additionally, the fee is not refundable. You will find many companies complaining about the tax settlement firms that don’t fulfill their promise or that misguide their client about the payment. Like for example, in the starting, coming up with the less amount, but, after some time, when the businesses are in their full control and have shared all knowledge with them. Citing the rejection of such applications, one cannot rate the success of these settlement firms to be true all time. So, the number of clients having satisfaction is low. In addition to that, those who have satisfied become financially deprived. The payment plans will need to work out with the IRS that can allow them with the clearance of all tax balances while keeping the assets safe. You will find many tax settlement firms claiming the drastic reduction in the tax to their customers. Remember, any firm that claims this without having the complete knowledge of the company’s financial status, it will defiantly prove to be a scam. For recognizing who is the real or who is just a scam, make sure that the agency is conducting the process diligently. So, to contact with the reputable firm is necessary that take all important financial data from its customers. And Based on that, give the real assessment about their working. Experienced firm is suggested in this regard which has a presence in the community for many years.