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If you own or have owned a business with employees, the IRS assesses what is termed 941 or employee withholding tax. This tax is due every operating quarter, and if it is not paid, penalties and interest will begin to accrue. If these taxes are neglected long enough, the business can be closed and all assets seized to satisfy the debt.
This is widely considered to be the worst form of tax debt as the IRS considers it 'stealing' directly from the government. Depending on the variables of the case, the taxes themselves can usually be negotiated down to a settlement, and the associated penalties and interest abated.
For sound advice and clear cut answers to your payroll tax questions, call us today at 1-800-410-8605 or fill out our on-line application and one of our certified partners will contact you quickly to get the tax resolution process started fast.
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