Payroll processing is a critical area in any business. Once problems arise like misapplied tax payments, missing tax forms, late payments, etc. these issues can take years to resolve. Having a competent and knowledgeable payroll tax accountant involved expedites the resolution process.
Not resolving your payroll taxes can lead to the following issues:
- An assessment of personal liability for payroll taxes
- Filing of Criminal Charges against the business owner
- Heavy Tax Levies & Leans
The package below includes an initial assessment, followed by an outline of what we may provide based on your assessed situation.
Assessment Service & Fee
| Collecting Information from the Federal & State Government | Our office will obtain a Power of Attorney on behalf of the business owner and contact the Federal and State governments. This will ensure we can request and collect all the correct information, transcripts, etc. that we need to fix the issue. |
| Acquire a short-term deferment of payroll tax | Until we get the issue resolved our office will coordinate requesting a deferment of payroll taxes; to reduce the impact of these prior issues to your current operations. |
| Request Penalty Waivers | Once forms have been filed, we will request waivers of penalties to reduce the impact of the tax bill. |
| Determining Statute of Limitations | Determine if the statute of limitations for collection of unpaid payroll tax has expired or will soon |
| Create a Plan to Resolve Payroll Tax Issues | Create a structured & executable plan to implement the best resolution for your company. |
| Total | $1,350 |
Once we have a full picture of your current situation, we will plan to resolve these issues.
Recommended Plan to Resolve Payroll Tax Issues
| Services Offered | Description |
| Prepare & File Missing Payroll Tax Forms | We will work with you and your payroll processor (if applicable) to prepare the missing payroll tax forms. If the payroll processor is unable to prepare them for you – we will prepare and file them for your business. |
| Payroll Tax Payments | Once the correct forms have been filed and processed by the government, we will help set up the ongoing payroll tax payments to get your business caught up |
| Release of Tax Levy (if applicable) | Secure a release of tax levy and unfreeze bank accounts to make funds available for the continuation of business |
| Installment Agreement (if applicable) | Negotiate an installment agreement with the IRS so that the payroll tax debt can be paid over a period of years |
| Release of Tax Lien (if applicable) | Secure a release of tax lien for the purpose of obtaining a loan to pay the tax due (lien subordination) |
| Establishing Not Collectible Status (if applicable) | Establish not collectible status for a struggling business |
| Submit an Offer in Compromise (if applicable) | Submit an offer in compromise to reduce the amount of trust fund recovery penalties at issue |
| Total | $2,500 – $6,500 |
The service fee of this plan will range based on the complexity and recommended resolution.
After resolving your issues, you have the option to hire us as your payroll processor to ensure your payroll tax issues won’t arise again.