Month: June 2015

22Jun, 2015

How to Deal With Payroll Taxes

When payroll taxes are not properly calculated and duly paid, small businesses can get into serious trouble with the IRS. Fortunately, tax services San Antonio based, such as those provided by Defend Tax Player, can come to the rescue of small business owners who are facing tax problems.

If you are a business owner, you must withhold the due taxes from every paycheck and then remit payroll taxes to the IRS every quarter of the year, in March, June, September, and December. It is up to you to do the math and determine the amount of the federal income tax, social security tax, and Medicare that must be withhold from the paycheck of every employee. Even small, local businesses with a handful of employees must do this.

payroll tax
The Dangers of Not Paying Payroll Taxes

Failing to remit payroll taxes can cause your business serious problems. These problems usually begin with penalties and interest on back taxes, which can add up quickly, making it more and more difficult for you to sort your payments. Because IRS is keen on making small businesses pay their taxes, not paying them quarterly can get your business into trouble. Before you know it, unpaid payroll taxes can lead to a huge tax debt and even the loss of your business.

Small Businesses and the IRS

Some small business owners who do not pay their payroll taxes on time may believe that the IRS will not penalize them, or that their business is too small for the IRS to bother with them. This happens because the IRS does not always notify businesses right away in regard to unpaid payroll taxes. The IRS has so much work to do that it may take months before they send their notices and warnings. No small business owner, no matter how clever, can avoid paying payroll taxes for long.

Some small businesses can get into trouble with the IRS over payroll taxes without having done anything wrong. Calculating and preparing payroll taxes isn’t always a straightforward process, and sometimes a small business may get the figures wrong, or not pay quickly enough. The IRS may then interpret these mistakes as a deliberate desire to eschew taxes, and then the small business owner can be in a fine pickle.

Tax Services In San Antonio Can Help

Here’s were professional tax services kick in. A professional and experienced provider of tax services, such as Defend Tax Payer, which acts as a tax consultant in San Antonio, offers small businesses that get into trouble with the IRS the payroll tax help that they need to clear the situation. As a provider of tax services San Antonio based, Defend Tax Payer can help you bring your taxes up to date as soon as possible, before the IRS sends you a notice concerning your back payroll taxes. Whether you’ve had problems with the IRS in the past or not, Defend Tax Payer can use its vast experience of over 45 years in dealing with tax-related problems to solve your tax problem before it threatens your business, your financial security, or even your liberty. Call now Defend Tax Payer at 866-489-1670.

10Jun, 2015

5 Tips When Hiring a Tax Consultant In Chicago

A professional and experienced tax consultant in Chicago can make your life easier and bring you peace of mind. It is crucial, however, that you avoid shams or low-quality providers and choose a qualified, IRS-approved, transparent team of tax experts.

 

Whether you do it for personal or commercial reasons, hiring a tax consultant in Chicago can be a great investment for you, one that can bring you peace of mind, since you know that your taxes are handled by a team of experts specialized in tax preparation and tax defense services. That said, not all tax services Chicago based are equal, which is why you want to make sure you hire the right tax consultant for you. Here are seven tips that will help you make a choice you won’t regret later.

 
tax tips

1. Don’t work with a tax consultant in Chicago if it doesn’t have a fixed address and a phone number where it can be easily contacted whenever you have a tax-related question or run into a problem with the IRS. So called ‘tax experts’ without an address may be nothing but scams, or inexperienced professionals trying to pass for specialized tax services providers.

 

2. Make sure your tax consultant has a Preparer Tax Identification Number (PTIN). Tax services providers who charge for their services must be registered to the IRS, which then assigns them a PTIN that they must use according to federal law on the tax return forms. The IRS requires any tax services provider to pass through a verification process before receiving their unique PTIN.

 

3. Never work with a provider of tax services Chicago based which does not offer you a complete copy of all the tax documents it prepares for you and sends to the IRS, including tax returns. Also, be wary of any provider which asks you to sign blank returns to “speed up the process”.

 

4. Choose a tax consultant in Chicago who has a good online and offline reputation, a good quality website, a prompt customer service, and that overall looks professional and reliable. Above all, look for a tax services provider who is transparent. You must remember that although the consultant will prepare and sign your tax documents for you, at the end of the day you are the one responsible for the data in them.

 

5. Choose a provider of complete tax services in Chicago, especially if you have multiple sources of income, run a business or more, donate to charity, and have had tax problems in the past. While a CPA (Certified Public Accountant) is a good choice for a typical tax payer, a complete tax services provider like the Chicago-based Defend Tax Payer has more experience in dealing with tax problems and offers a wide range of services that go beyond tax preparation, including resolving settle back taxes, tax liens, levies, and wage garnishments. To find out more about Defend Tax Payer.