IRS Treats Withholding Unpaid Taxes as Personal Obligation. Our Team of Experts Can Help You Avoid Tax Liens and Reduce Liabilities
Frequently, small business owners collect withholding taxes with every intention of paying the IRS. With an economic downturn of historic proportions facing many businesspeople, they find they cannot submit payment to the IRS. While a business might shut down or be forced into bankruptcy, the IRS transfers the corporate obligation to the company’s principal.
Failure to pay triggers the same IRS enforcement actions initiated against individual taxpayers: a Federal lien, frozen personal bank accounts, seizure of property, garnishment of wages and devastation of one’s personal credit.
Once again, ignoring the problem will not make it go away. Before the IRS takes personal action against you for past business problems, contact the tax experts at Madison Tax Group. For a complimentary and completely confidential analysis, click here or call 1-888-TAX-5060 (829-5060).