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.
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.