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Tax News

Payroll Tax Liability Resolutions Strategies

Mar 4, 2020 | Taxes Tips

Over the past few weeks, I’ve written about payroll tax liabilities for a business and how the IRS assesses these taxes and attempts to collect them from both the business and employees within the business that the IRS deems “responsible” for “collecting, accounting...

Payroll Tax Liability Collection from Individuals

Feb 26, 2020 | Taxes Tips

In last week’s blog, here, I spoke about the actions that the IRS takes against a business to collect delinquent payroll taxes, known as “trust” taxes. What makes payroll taxes different than federal income tax is that the IRS had the ability to collect delinquent...

Payroll Tax Assessment & Collection for Businesses

Feb 19, 2020 | Taxes Tips

As I mentioned in last week’s blog, here, “Struggling or failing businesses often use these funds (payroll tax withheld from employees) to pay their employees and vendors in order to stay open instead of sending the money to the government. Unscrupulous business...

Introduction to Payroll Tax Liabilities

Feb 12, 2020 | Taxes Tips

When I do presentations at local business networking meetings, I am frequently asked these questions by people with significant tax liabilities: What are my chances of being audited? Am I going to lose my house? Could I go to jail? My firm, By The Book Taxes, located...

IRS Collection Enforcement Update

Jan 8, 2020 | Taxes Tips

In late 2018, the IRS got a new commissioner, Charles (Chuck) Rettig and he has recently appointed Eric Hylton as the head of the “Small Business/Self-Employed” Division of the IRS. The significance of Mr. Hylton’s appointment is that he used to be the Deputy Chief of...