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Business owners have more responsibilities to the IRS than just filing income taxes as individuals; they also must pay on behalf of their company. Just as individuals sometimes have difficulty paying their income taxes to the IRS, both large and small business owners are sometimes in need of business tax debt relief. In general, there are four types of business taxes for which employers are responsible:

• Income tax-Whether gathered through withholding from employees or otherwise, employers (with very few exceptions) must pay an income tax for their company. Usually this is done throughout the year, as money is earned. If you fail to pay enough, you may have to pay an estimated income tax, which is not in your best interest.
• Self-employment tax-This tax is for people who work for themselves, and includes Social Security and Medicare.
• Employment taxes-Employment taxes are paid by the business owner on behalf of his or her employees. These include Social Security, Medicare, Federal Income Tax and Federal Unemployment Tax.
• Excise Tax-Excise taxes are bestowed on businesses that specifically manufacture, sell or use certain products or services that require taxing. The cost of these taxes often included in the price paid by the customer.

If you are having difficulty paying state or federal taxes for your business and would like the help and advice of a tax professional about collections procedures, installment agreements, penalty abatement, or with other tax issues, Randy at Randy’s Tax Resolution, LLC can help.

Payroll Taxes

Payroll Taxes Employers in the United States are required by law to withhold certain payroll taxes from the paychecks of their employees and to remit these taxes to the government. Payroll taxes include both federal and state income taxes, social security, and Medicare. Sometimes employers neglect to pay the proper amount for all of their employees, which can result in back taxes attributed to employees. If there is a discrepancy between the taxes that you have had or should have had withheld and the amount received by the IRS, a tax professional can help you resolve any resulting debt. Randy’s Tax Resolution, LLC can help you to settle debt resulting from payroll taxes with the IRS.

Payroll Tax Relief

Making Mistakes on Your Payroll Taxes is Guaranteed to Turn Uncle Sam’s Eyes in Your Direction! Running a business is no easy feat. From day to day operations and management there is always work to get done. Then when you add payroll and taxes on top of that it can be a lot to handle. Falling behind on payroll taxes can cause even more unwanted stress. We help our clients by assessing their current situation and helping them find answers that will best preserve their ability to stay in business. If you are delinquent on payroll taxes contact us at 320-295-7479 for a free one-time 30-minute consultation to find out more on how we can help with your payroll tax problems.