If you are behind on paying payroll taxes for your Wheaton company, watch out! Wheaton payroll taxes often create significant problems for small business owners. Failure the accurately account for payroll tax obligations is considered a severe violation. Not to mention, there are various filing requirements and stringent responsibilities when it comes to payroll tax obligations.
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. Companies are easy targets for the IRS, and they are tremendously assertive while pursuing the collection of this type of tax. They can seize your business assets, close you down, and sell your assets at auction than allow you to continue amassing additional payroll tax liabilities.
If you have unpaid Wheaton payroll taxes, it is critical that you hire a professional representative to work on your behalf. Jones, Savarese, Harrington & Company can help formulate and coordinate a plan to get you back on track. Let our expert CPA tax accountants help you mitigate this type of tax delinquency immediately.