If you own a business, you know how important it is to withhold payroll taxes from employees’ paychecks and send them to the IRS. But if financial struggles cause you to fall behind, the IRS takes it very seriously.

Unpaid payroll taxes can trigger:

• Heavy penalties that increase your debt rapidly.
• IRS liens against your business assets.
• The Trust Fund Recovery Penalty (TFRP), which can hold you personally liable for unpaid taxes.

The IRS views payroll tax noncompliance as a major violation because the money technically belongs to your employees, not you. This means collection efforts are often swift and aggressive.

If you’re facing payroll tax problems, you need immediate help. Options may include:

• Negotiating an installment agreement.
• Seeking penalty abatement.
• Preventing or appealing Trust Fund Recovery Penalties.

At Fine & Clear Tax Solutions in Uniondale, Guy Finocchiaro helps business owners navigate payroll tax issues, protecting both their companies and personal finances. Call today for your free consultation and safeguard your livelihood.