I represent taxpayers in Mount Laurel, New Jersey with back tax debt. So, why does IRS take payroll taxes very serious? Think about it this way:
- You are an employer with 2 employees.
- You pay your employees $20,000 per year
- Your employees are in a 10% tax bracket for example
- Your employees must pay $2000 each in income tax to the IRS
- Let's say you pay your employees every Friday.
- You withhold $384.61 from your employees paycheck each week
With this information, you the employer is taking taxes out of your employees' check and must send it to IRS, but instead you don't. At the end of the year, when you the employer send your employees their W2s stating they have paid $2000 in taxes, but IRS have not received any payment from you. Now there is a big problem because you are keeping your employees' monies in your bank account. The employer will now receive IRS notices from IRS requesting for payment. Many small business owner with 1 to 10 employees find themselves into this back tax debt issue. There is a solution like Installment agreement, currently not collectable or offer in compromise. If you have any questions regarding back tax debt, we can be contacted at 973-840-7350 or email us at onpoint@onpointresolution.com.
Fanta Kaba
309 Fellowship Road, suite 200
Mount Laurel, NJ 08054
Tel. 973.840.7350
Fax. 347.344.6942
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