As employers, you are liable to collect income taxes from your employees and providing them to the IRS. In case you fail to do so, the IRS will consider the unremitted pay-roll taxes as theft.
Do’s -Be the Responsible Person
Who is responsible? All employers or heads of a company are acting as a tax collector on behalf of the IRS. If you are the boss, act responsible, collect income-taxes from all employees in order to avoid the penalties.
Do’s – Avoid Penalties
The IRS does not distinguish between for-profit and non-profit organizations when it comes to collecting taxes. What are the penalties? The penalty may accumulate to the collection of 100% of the unpaid payroll tax amount by the IRS from the person who was responsible. Avoid this step by staying aware of the necessary duties of tax-payers.
Don’ts – Making Excuses or Dishonesty
As a responsible person, provide all employees with adequate information regarding the taxes, possible timelines, and possible penalties. Never use the payroll taxes that you are meant to collect for other activities.
Don’ts -Not Complying to your Tax Resolver
By not adhering to the rules and regulations, you are putting yourself and your family in danger. Always comply with your tax-resolver. He will never guide you in the wrong direction.
Choosing the right tax-resolver is also important.
Tax Help MD provides all taxpayers with expert Tax-solving personnel that guide you in the right direction and gets rid-off your tax problems.
It also assists in your support when you need proof as TAX Help MD has several years of experience and adequate expertise.
My Tax Help MD provides the best IRS tax help and tax settlement services and make the life of its clients easy and relaxed. Having a team of professional tax consultants, we provide diverse IRS tax debt resolution service. You can tell us your tax problems and we will come up with the best possible solutions for them.