Thursday, March 13, 2014

Business Tax Problems Create Unnecessary Stress


There are ways to solve your business IRS tax issues

Your business has been on life support ever since the great recession started. You are actually kind of proud of the fact that you’ve kept the doors open through it all.  As you look up and down main street, you see For Lease signs on a lot of shops that didn’t have what it took to slog through these tough times. 

On the other hand there are some issues hanging over your head that are coming to the surface, fast and furious. The bounced checks are eating through a few hundred dollars in fees per month.  The  late rent charges don’t help. But more than any other single thing, there is the IRS. 

It started three years ago when you had to make a decision.  Pay the employees, pay the rent, or pay the payroll taxes. You chose the rent and employees. Your calculation was that if you don’t pay the employees and the rent, the business folds, and you won’t be paying any payroll taxes. Surely Uncle Sam would understand that.

Besides, the economy seemed to be improving. You’d pay the payroll tax next month.

Unfortunately, you didn’t have the money 30 days later, and there were other times when you chose paying your phone bill, your suppliers, or your own mortgage over paying those pesky payroll taxes. 

You got the first letter 90 days ago. The IRS would like to speak with you. You have nothing to say, no excuse, and no money to placate them, so you ignored the letter.  You’ve had phone calls.  You ignored those, too. Now the IRS collectors are getting serious.  Two days ago they hit your company checking account and wiped it out.  Today you got the levy notice.  You have no idea when or where they will seize assets next. Could be your personal checking. 

Like any such issue in business, the sooner you seek help the better things usually turn out. In this case, the situation is getting out of control. You know that you should call the IRS agent, but you have nothing to offer, and don’t know what to say!!

That’s where an Enrolled Agent comes in. We can help you get some breathing room. We will get on the phone with the IRS collector, and get him to stop all collection activity against you while we work something out that will be best for the IRS and for you. 

This is a very serious matter. Payroll taxes and penalties don’t go away when you close a business. You are personally responsible for those, even if the company is adjudged bankrupt. 

Don’t delay.  Call the experienced team of ex IRS agents at Demetriou, Montano, and Associates at 888-987-1040

Demetriou, Montano & Associates - Tax Resolution Specialists
12301 Wilshire Blvd. Suite 318
West Los Angeles, CA 90025

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