When Business Taxes Become a Personal Debt

If you’ve read my prior blogs, you already realize that Payroll Tax Debt is often the most complicated and risky tax debt issue to deal with, and as mentioned in the title, not only is the business liable for the tax, but the owner’s and other “Responsible Persons” can

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Dallas TX – How to Effectively Solve Your IRS Problems

Did you know that there are approximately 20 million taxpayers that are either in some stage of the collection process with the IRS or are believed to be non-filers. This is expected to continue to increase in the current economic environment related to COVID-19. Unfortunately, if you

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Richardson TX – Have Payroll Tax Debt? It May Be Wise to Hire a Professional to Resolve Your Problem!

There are times that it makes sense for a taxpayer with IRS tax problems to face the IRS on their own.   If the tax debt is fairly small, it may cost more to hire a professional than to simply pay the IRS directly or set up a

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Richardson TX – Making Voluntary Payments to Reduce the Payroll Tax TFRP

As we in previous blogs, a priority of helping taxpayers who come into our Richardson TX, tax office with business Payroll Tax Debt, is avoiding or minimizing the impact of the Trust Fund Recovery (TFRP). When the IRS makes a TFRP assessment against an individual, that individual

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Richardson TX – Payroll Tax Debt Relief – The Express Installment Agreement (IBTFIA)

When businesses with Payroll Tax Debt come into our Richardson, TX tax office, one of my major priorities is avoiding the Trust Fund Recovery (TFRP) from being assessed against my clients. The TFRP is an assessment that the IRS makes against what it considers to be Responsible Persons and creates

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Richardson TX – Top Strategies for Small Business Owners with Payroll Tax Debt

As we’ve covered in the past few blogs, Payroll Tax Debt can become a nightmare for a taxpayer who gets behind. In addition to the potential late filing and late deposit penalties to a corporation, LLC, or partnership for unpaid taxes, there is also the potential for personal liability,

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Richardson TX – The Criminalization of Payroll Tax Debt!

As covered previously, Payroll Tax Debt issues are among the most complex and potentially the most damaging tax debt cases that we see in our Richardson, TX tax office. First, there are the potential penalties that can create a financial hole that’s almost impossible to dig out of. Then, there’s

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The IRS Trust Fund Recovery Penalty – Business Tax Debt and Personal Liability

Payroll Tax Debt can become a nightmare for a taxpayer who gets behind. In addition to the potential penalties to a corporation, LLC, or partnership for unpaid taxes that we reviewed in our previous blog, there is also the potential for personal liability. Today, we will cover

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Richardson TX – Why Cash Strapped Businesses Need to Make Payroll Tax Deposits

When business owners come into our Richardson TX tax office with a payroll tax debt issue, it’s often more complex than a typical IRS 1040 tax debt problem.  Payroll Tax Debt not only may involve risk at the corporate or LLC level, but both owners and possibly other

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