As a result, penalties for failing to pay your payroll taxes and filing your payroll tax returns on time are much more severe than other types of penalties. They can drastically multiply the amount you owe in a very short time.
If you are behind on paying payroll taxes for your company, realize the IRS is extremely aggressive pursuing collection of this type of tax. They can and will levy your bank accounts, seize your business assets and put you out of business than allow you to continue amassing additional payroll tax liabilities.
If you are behind on your payroll taxes, call me to discuss the best way to proceed.
