Can’t Pay Your Payroll Taxes?
See if you qualify for payroll tax relief!
Consequences of Missed Payroll Tax Payments
As an employer, you are responsible for depositing employment taxes (Social Security, Medicare, and Federal Unemployment Tax) on time, in the correct amount, and in the right way. Failure to do so can result in a Failure to Deposit penalty and interest fees.
The amount of your Failure to Deposit penalty is based on the number of days your payroll deposit is late, starting from the original due date.
| If your payment is… | The payroll tax penalty will be… |
|---|---|
| 1 to 5 calendar days late | 2% of your unpaid deposit |
| 6 to 15 calendar days late | 5% of your unpaid deposit |
| More than 15 calendar days late | 10% of your unpaid deposit |
| More than 10 days after your first letter/notice or the day you get a request for immediate payment | 15% of your unpaid deposit |
Additionally, interest will accrue on the penalty fee until your unpaid balance is paid in full. This can quickly increase the amount you owe, making it difficult to get caught up.
Penalties and interest, however, aren’t the only consequences of failing to submit payroll taxes. The government will pursue civil litigation for those who fail to comply with their employment tax obligations. If they believe you are intentionally not paying your payroll taxes, they may also pursue criminal charges.
Thankfully, there are options to help address your overdue payroll taxes. Request a free consultation today to see if you qualify for relief.
Small Business Payroll Tax Relief
If you are currently behind paying your payroll taxes, you may qualify for payroll tax relief. There are two main options available:
Penalty Abatement
We may be able to reduce or remove your payroll tax penalty fees if there is reasonable cause as to why you were unable to meet your tax obligations.
Payroll Tax Payment Plan
If you are unable to pay your taxes in full, we can set up an affordable payment plan that allows you to pay your overdue payroll taxes over several months or even years.
The professionals at Business Tax Relief can negotiate with the IRS on your behalf to ensure you get the best outcome possible. Don’t wait for the IRS to place a levy on your business accounts or initiate litigation. Act now to find an affordable resolution for your payroll tax troubles.