941 Payroll & Employment
In this struggling economy, sometimes your business cannot pay all its
bills. The business may have used its credit lines and other sources of
ready cash. Because money and cash flow are tight, businesses
frequently cannot pay the 941 employment taxes. This can be a disaster
for the business and the officers and shareholders!
Liability for 941 Taxes
941 taxes include the amounts withheld from employees and the
additional amount the business owes for Social Security and Medicare.
Because the IRS views the business as holding the taxes in
for the government, these withheld taxes are called "Trust
The IRS tries to collect the money from the business
AND officers and check signers known as "Responsible
If the business cannot pay the taxes right away, the IRS goes hunting
to collect the back taxes from the officers and owners directly!
Closes Down Businesses!
If a business does not pay 941 taxes for 3 or more quarters, the IRS
calls this "Pyramiding."
The IRS will levy against business bank accounts and customers that owe
the business money. Sometimes, the IRS will come in and shut the doors!
need a Tax Lawyer Right Away
If your business owes back 941 taxes, contact a tax lawyer right away.
Do not talk directly with the IRS Revenue Officer because the IRS is
trying to hold you personally and individually liable. Let your tax
lawyer fight the IRS for you to keep your business open.
concerning handling 941 tax audits and collections, Click Here