Payroll processing is a critical area in any business. Once problems arise like misapplied tax payments, missing payroll tax forms, delinquent payments, etc. these issues can take years to resolve. Having a competent and knowledgeable payroll tax accountant involved expedites the resolution process. FACT Professional, Inc. has expert payroll tax accountants who are geared to solving your payroll tax issues. If you are looking for payroll tax debt relief or resolution our firm will support, you.
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 & Liens
What is the process?
Once you have signed up with our payroll tax resolution/debt relief service we will start by collecting information to get the full picture of your tax issues. Once we have consolidated all the information, we will request the IRS and state governments to hold off on applying liens and levies to your account as we are actively working on the case.
After running a full assessment, FACT Professional, Inc. will apply the following steps (as applicable):
- Prepare and file missing payroll tax forms such as but not limited to:
- 941
- 940
- 944
- DE9 – California only
- DE9C – California Only
- W2
- W3
- Setup payroll tax payments
- Request release of tax levies/liens
- Setup Installment Agreements
- Setup Offer in Compromise
How do I know if it is a payroll tax, sales tax, or income tax issue?
If you have received notices from the government these should be sent to our office once you have hired us to support you in payroll tax debt relief.
Our office will collect and sort the notices to understand if you have a payroll tax, sales tax, or income tax-related issue.
How long will it take to resolve the payroll tax issues?
Once you have signed up with our office for Payroll Tax Resolution, we will start the process and collection of information right away. However, if the IRS or state government delay processing your information, this process may take longer. Most cases take 3 – 12 months to resolve. Throughout this time frame, our payroll accountants will keep you updated on the statuses and next steps.
Can I get an installment agreement for my past payroll taxes?
If you don’t have the cash flow to pay your payroll taxes, we can set up an installment agreement. This installment agreement will allow you to pay a fixed monthly amount until the tax liability is paid in full.
Why should you work with a professional to resolve payroll tax debt issues?
If left unresolved payroll tax issues can become serious. Having an experienced payroll tax accountant on your side will help resolve these issues, reduce or waive penalties and find a quicker resolution.