If you find yourself the target of the trust fund recovery penalty, it is essential that you understand how the IRS views such situations. They would rather shut your business down than work with you to get the tax money back.
It bears repeating – the IRS collections agents find it easier to shutter your business, sell your assets at auction, and pursue every available means to get money as fast as possible than collect the full amount over time. The reason? They would rather shut down your business rather than risk not receiving your employees tax withholdings.
You cannot wait to seek counsel in the face of back payroll taxes. Contact the tax attorneys at Pearson Butler immediately at (800) 265-2314 for an honest assessment of your situation.
Saving Your Business in the Face of IRS Liquidation Efforts
Pearson Butler’s attorneys have over 300 years of collective experience and a great deal of success in stepping in and saving businesses in payroll tax trouble. When you work with Pearson Butler, our legal team can contact the IRS and intervene on your behalf to convince the IRS it is in the government’s interest to work with you and that they will get more money in the long run by setting up a payment settlement arrangement while keeping your business going.
Payroll tax cases are among the most serious tax debt cases, but every case is unique. Pearson Butler acts fast to negotiate settlements that put clients’ businesses on the path to recovering from trust fund penalty collections.
Choosing to Let Your Business Go
If you feel there is nothing to be done to help your situation and resolve to the allow IRS seize and liquidate your assets, you must know that, if the proceeds are not enough to cover the unpaid tax debt, they will continue to pursue you and anyone within your organization who is found to have participated in using payroll trust funds for other uses. This almost always includes the business owner but can also include officers within the company, and anyone who is a signer on the corporate bank accounts.
Other than paying the amount in full immediately, the only recommended course of action to save your business and resolve payroll trust fund problems is to hire an experienced attorney who understands how to bring such cases to successful settlements.
The tax attorneys at Pearson Butler understand the complexities of running a business and the difficult situations that many businesses must deal with. The firm fights for each client’s interests and can negotiate with the IRS to put this difficult problem behind you.
Call Pearson Butler at (800) 265-2314 today for more information on payroll tax penalties and your rights.