Batavia payroll taxes often create the biggest problems for small business owners. There are numerous filing requirements and stringent responsibilities when it comes to payroll tax obligations. As a Batavia business owner, you must make quarterly tax deposits to the IRS and complete a series of filings for all Batavia payroll taxes withheld. Failure to properly account for payroll tax obligations is considered a serious violation.
The payroll tax money collected from employees to pay their share of federal withholding tax, FICA, and Medicare (Social Security) does not belong to the business and must be paid to the government. If you are behind on paying Batavia payroll taxes for your company, watch out! Not filing, paying late, or borrowing from payroll taxes is against the law.
Businesses are easy targets for the IRS and they are extremely aggressive in pursuing collection of this type of tax. They would rather seize your business assets, close you down, sell your assets at auction, and put you out of business than allow you to continue amassing additional payroll tax liabilities.