One of the most common issues we handle is dealing with businesses who owe payroll taxes, either from Form 940 or Form 941 tax obligations. When employers fail to pay “withholding taxes,” the Internal Revenue Service will typically be very aggressive in taking action against the business, including potentially stopping the business from continuing to operate.

Further, the IRS has the power to assess corporate tax obligations against those individuals who were willful and responsible in failing to pay taxes. The method for assessing individuals with corporate tax responsibilities is through the Trust Fund Recovery Penalty, which is set forth in IRC § 6672.

To discuss how to resolve your payroll tax liabilities, please call me immediately at 865-566-0125.