Tips for How Businesses can Handle Payroll Tax Troubles With The Internal Revenue Service

Steer Clear of Misfiling
Payroll Taxes

It is not a mistake that the majority of small businesses in Atlanta Georgia with payroll tax troubles are seeking IRS representation. 

Why? Because the Internal Revenue Service can be a real bull dog when it comes to collecting this tax. In many ways, it is the most serious tax of all.

As a business owner, it makes sense for you to become more knowledgeable on how to deal with your own payroll tax issues. Once you understand what to do and why to do it, that is when you can steer clear of heft damages caused by misfiling your payroll taxes with the IRS. 

Also, it means less money you may need to spend on Atlanta IRS representation! (Or hiring a firm for audit help).

The easiest way to stay out of trouble is by using a bonded payroll tax service to both file and make all payroll tax deposits. This helps cover you in case there is an issue. Also if you can only make partial payments, it is very important to write on the check that your contribution should go to  the trust fund portion of the tax. Along with writing it on the check, enclose a letter stating you have designated the funds to the trust fund portion of the IRS payroll taxes.

The trust fund portion of Atlanta IRS payroll taxes consist of:

• Employee's income
• FICA contributions

The smaller part is the employer's share of the FICA contribution, which is not subject to the actual Trust Fund Recovery Penalty. While this reduces what the Internal Revenue Service can assess against your business by only an 8%, it is important to stack the odds in your favor and every little bit helps.

Don't let your small Atlanta based business be overcome by problems with the IRS.  Call GBC IRS Income Tax Representatives today (678-366-9232) for all your income tax needs and representation.

GBC Tax Services founder is Ghassan R. Ghraizi, CPA, CGMA.  Ghassan is a Certified Public Accountant, Certified Chartered Global Management Accountant, Atlanta BBB Member.  
Read more about Ghassan R. Ghraizi here.

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• GBC Tax Income Atlanta Office
• Commonly Used Tax Forms
• Contact GBC Income Tax Services Today! 
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