How Good People Solve Bad IRS Problems - Nick Nemeth - Manual / Resource - Page 64
HOW GOOD PEOPLE SOLVE BAD IRS PROBLEMS
CHAPTER: 18
WHAT TO DO IF PAYROLL IS THE
SOURCE OF YOUR TAX PROBLEMS
From the IRS’s perspective, there’s an unfortunate truth
with payroll taxes. The agency believes if you’re behind
on payments, your business is better off closed.
So if you’re still operating your business and behind on
your payroll taxes, negotiating a payment plan can be
a tough process. The other problem is, as the owner,
you’re the one who may be personally responsible for
the outstanding debt. This means your personal assets
are at risk.
For this reason, never try to negotiate with the IRS alone
when payroll taxes are the source of your tax problems.
You risk losing your business and putting yourself into
long-term financial hardship.
You see, when your business is open and you can’t pay
your current payroll taxes, the IRS assumes the problem
will only keep growing. After all, if you can’t pay now and
the scenario is the same as when the problem started,
why would the IRS expect the situation to ever get any
better?
So if you’re set on staying open, you must quickly
develop a plan to pay back what you owe. (Yes, I can
help you with this.) Time is not on your side.
63
