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 payment plan. Other times, the taxpayer may have the time to learn about the IRS processes and policies, and the patience and temperament to deal directly with the IRS.
However sometimes the problem is a big problem, or is complex and has risk if not handled correctly. Payroll Tax Debt is one such problem. If not solved in a proper manner, the taxpayer’s business may be at risk, personal liability can be created through the assessment of the Trust Fund Recovery Penalty (TFRP), and in rare but extreme cases, the wrong moves could create criminal liability. In these types of cases, it may be wise to hire an expert in tax resolution so you can get the best result possible.
If you’re unsure, here are 5 reasons why hiring a Tax Resolution Specialist might be the smart thing to do if you OWE Payroll Tax Debt to the IRS:
- You can eliminate talking to the IRS. There will be several times during the collection process where you will need to correspond to the IRS. Knowing what to respond and how much information to provide can be critical to your case.
- Help in Navigating the 4180 Interview. Remember that the 4180 interview gives the IRS an opportunity to hold “Responsible Persons” personally liable for the Trust Fund portion of Payroll Taxes. A quality tax resolution professional can help you to navigate the interview process to a favorable outcome.
- Do you know your rights as a Taxpayer? As a taxpayer, you not only have obligations, but you have rights. Understanding these rights can make a major difference in your outcome.
- A competent tax resolution professional will advise you to take actions that can help you to obtain the best outcome for your circumstances. These actions may be different based on whether the business is sustainable or should be shut down.
- A solid tax resolution professional can help you understand what actions may put you at additional risk and you shouldn’t take. This can be as important as the actions you should take!
With a tax debt issue as complex and thing with the IRS, having someone who knows how to navigate the IRS may make the difference between a good idea with Payroll Tax Debt.
If you or your business have Payroll Tax Debt with the IRS and/or your state, and you’d like a free consultation to discuss your options, please give me a call at (972) 821-1991 or email me at [email protected]. Learn more about us at https://jablonskyandassociates.com.
