While being a business owner is fulfilling both personally and professionally, small businesses are at a greater risk of harsher penalties from the IRS. If you owe back payroll taxes, your penalty can very quickly equal double your tax debt—which can ruin many small businesses. But it’s not just failing to pay payroll taxes in a timely matter. It’s also a matter of how workers are classified, misstating deductions and misusing tax credits, and being held personally liable for tax issues. This last issue is known as a Trust Fund Recovery Penalty—which penalizes the business owner and anyone else who can manage funds—for failing to pay federal withholding taxes.
These all can be tough to appeal, but given Schneider’s rare qualifications of financial and legal expertise and record of getting numerous Indiana clients tax relief, we may be able to help you. (While we’re not a law firm, you can seek representation from James J. Schneider, Attorney at Law.) Schedule your confidential consultation today.
With our dual specialties, we can apply deft strategies and insights to your case, regardless at what point the collection process you are in; this has always proven a benefit to our clients’ cases. And we begin with a painstaking analysis of your case and records, ensuring we start from a strong place.
Having spent more than 35 years pursuing financial justice for a variety of business owners, we have a robust understanding of how the IRS works and what kind of communication is effective. The good news is that the faster you address your IRS situation, the more likely you’ll receive a more favorable outcome.