What happens if you fail to pay payroll taxes?
The IRS views failing to pay payroll taxes as the cardinal sin of tax delinquency because a large portion is your employees’ withholdings. Not paying this company’s money means you’re stealing from them in some way, and that will not go unnoticed by either agency! As such penalties for delinquent filings are much worse than other types- they can skyrocket debt quickly without warning or mercy on the part of whoever owes it all.
The IRS is extremely aggressive pursuing collection of payroll taxes. They would rather seize your business assets and put you out of business than allow a company to accumulate additional tax liabilities for not paying these important amounts on time with penalty fees attached to them as well.
Patriots Tax & Accounting’s experienced team of CPA’s will get your payroll taxes paid, assess your current financial situation, and provide payroll and booking services for your business.Get A Free Consultation*