What Should I Do To Control The Collection Process
For Unpaid and Delinquent Payroll Taxes?
What Should I Do To Control The Collection Process For Unpaid and Delinquent Payroll Taxes? The IRS has a term for a policy and its regulation which we call the "ballooning tax liability." The IRS will prohibit business continuation when you fail to stay current with both 941 filing and payments from the point the IRS Revenue Collection's Officer meets with or contacts you. This is a serious compliance concern and you do need professional help to assist you. Contact Us Now In developing the strategy for your business continuation we want to know
whether you can stay current with reporting and payment requirements for 941
taxes. We also need to know certain facts which let us develop the best,
business or personal, plan for repayment of the tax assessments that led to the
deficiency in payment.
We know from many experiences that your best approach is to contact us so that you may avoid public embarrassment and company harm due to levy and liens. So that you may explain to us your company's strategic goals for resolving the IRS tax liability such that we may develop the proven strategic approaches for dealing with the IRS, click to contact us. Contact Us Now We have a long track record of assisting companies to file offers in compromises, successfully, when your equity position in your assets is less than your current tax liability. <<<<Back to the top What Should I Do To Best Protect My Business? Deliberate action to deal with the situation is the best approach to best protect your business and your employees. We look at your business and its present and future position in the market to develop strategic approaches to resolving our tax liabilities. Your best business decision, when you have been contacted by the IRS or any state revenue collection officer, is to contact the Tax Resolution Center. Contact Us Now <<<<Back to the top WhenCan My Business File An Offer in Compromise? In most cases a Business Offer in Compromise may only be filed when all business
returns have been filed for two quarters. That is called reporting compliance.
There is also a payment requirement that we can explain to you. That is called
payment compliance. Your business must be in or become reporting and payment
compliant before the IRS may process, in most cases, a Business Offer in
Compromise.
We have alternatives, in certain circumstances, which are more favorable for your company than the Offer in Compromise. Contact Us Now <<<<Back to the top What Is My Business Worth To the IRS? One of the primary goals during the collection process is to convince the IRS that you are a better leader or manager of the business so that they permit your company to remain open. Seizure of your business is not a very good result for the IRS. In making their determination of what they may receive for your business they would look at it in total and also as to each asset. Once the IRS determines the estimated fair market value they then look at the "quick sale value" which is normally 75% of the fair market value. They then determine that the minimum bid must be 80% of the "quick sale amount". Since the IRS must pay all prior record, in time, encumbrances and all expenses of the sale from the sale proceeds there is a lot of room to negotiate with the IRS such that you get to retain ownership of your business while you manage it to success so that you may repay the IRS a compromised amount. <<<<Back to the top Tax Resolution Center
|