I work for a business that is 3 months behind on payroll taxes. What is the best course of action to take? Contact the IRS ourselves and plead for mercy? The owner has every intention of catching these taxes up but with penalties and interest is concerned that the hole may be too deep.
2 Answers from Attorneys
The first step is to contact the IRS. If that does not work, you need to talk with a tax attoreny.
Best of Luck
Greg
www.gregwileylaw.com
Payroll taxes are considered trust fund taxes and the IRS does NOT take kindly to them not being paid. You should contact a tax lawyer before you even think about talking to the IRS. This is commonly known as the 100% penalty and therefore not deductible if paid by the owner. People responsible for this tax are the people who make the decision to divert the funds to other uses rather than pay the government.
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