Tax Attorneys Houston – 941 Payroll Tax Help

IRS Tax Help

941 payroll tax:

Payroll (941) Taxes (Not dischargeable in a bankruptcy)

A lot of times the 941 payroll tax issue results from either not filing a required payroll tax form on time, or not filing it at all. If you have paid your payroll tax deposits, and simply had a problem with a form, the IRS is usually willing to let you clear it up simply by getting the form to them as quickly as possible. You may be assessed a small penalty, but that’s not always the case.

The real 941 payroll tax problems are those that result from failing to make the required payroll tax deposits on time and in the correct amounts. If you own a business that has employees, even if that employee is just you and/or your spouse, you have specific deposit requirements. These are the most common:

  1. Social Security tax
  2. Medicare tax
  3. Federal income tax
  4. Federal Unemployment tax

Federal Employment and Payroll (941) Tax delinquencies can result in the assessment of massive penalties and interest along with the seizure of your business and PERSONAL assets. Federal Payroll (941) Tax laws give the IRS greater authority to collect what is owed. This authority includes the ability to collect these taxes from the owners and corporate officers. Even if the business is voluntarily or involuntarily closed, the owners/corporate officers are PERSONALLY LIABLE for these type of taxes – and Payroll (941) Taxes CANNOT be discharged in Bankruptcy!

Form 941: Employer’s Quarterly Federal Tax Form is the form used by employers to report employment taxes, withholding amounts, deposit amounts, and amounts due to the IRS.

Delinquent Payroll (941) Tax problems are full of obscene interest and penalty charges, such as:

  1. Penalty for filing a late return or corporate report.
  2. Penalty for making a late deposit or failing to make one.
  3. Interest on the delinquent taxes and interest on the penalties!
  4. Assessment of penalties that no one can seem to adequately explain to you.

Adding the above amounts together, it’s easy to see why Payroll (941) Taxes are often called the 100% Tax. Penalties and interest added together can quickly EQUAL 100% of the ACTUAL TAX

Ansari Law Firm, Attorneys & Lawyers  Tax, Alpharetta, GA

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Anthony

Great lawyer. Dealt with my problems thoroughly and promptly. Went to 2 other lawyers before him and neither understood sales and use tax audits. Experience matters and Mr. Ansari knew exactly how to handle my case and the department of revenue.

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True to his word, Attorney Mansoor Ansari relieved me of a tremendous debt to the Internal Revenue Service. At our initial meeting he told me to "place my stress with them and enjoy my summer." Several months later, he informed me that my debt had been reduced to ZERO!! God bless you Attorney Ansari!

Mildred

Mansoor took my case and updated me every week. He is very quick and very easy to talk to. I felt very comfortable with him and for the first time in a long time I can sleep at night. I don't have any IRS problems and my credit score went up.

Jim Schoene

This guy is like a tax encyclopedia and knew more than the auditors and the lawyers of 4 states.

Mark

Mr. Ansari is obviously an amazing attorney. He kept in great communication with me throughout the process. I can never thank him enough. i recommend his firm whole heatedly.