The classic business tax problem is unpaid payroll taxes. It’s like a loan from the IRS with an uncertain due date and uncertain interest rate. The problem is that the IRS takes business taxes very seriously.
The failure to pay business taxes typically has a snowballing effect. It starts out as a small problem, escalating over the years into a huge problem. The IRS tends to take business tax issues very seriously. Business taxes can be much more difficult to resolve. If the IRS comes to the conclusion that you cannot pay the taxes because you are not making enough money to pay your overhead and taxes, the IRS will not hesitate to shut you down.
Filing old tax returns is more difficult than it might seem at first. You need old income information, old tax-return forms, and old tax tables. We can help you obtain this information. More importantly, we can handle the entire process so that IRS collection activity is completely avoided—no levies.
Returns that might be require to be filed include forms 941 and 940 for payroll taxes, a Schedule C and 1040 for sole proprietors and sole-member LLC’s filing as a sole proprietor, Form 1120 for C corporations, 1120S for S corporations, and Form 1065 for partnerships.