DEALING WITH UNFILED EMPLOYMENT TAXES

Taxes can take a big chunk out of your profits. You might dread the filing of your quarterly employment taxes knowing that you are going to have a big tax bill that you simply cannot pay. Instead of working with a Utah tax lawyer, you might try to avoid the problem entirely by just not filing your employment tax returns.

It seems easy enough. You don’t file and nothing happens — at least not right away. It could be years before you hear anything, but rest assured that the IRS will discover your failure to file and to pay the taxes that you owe. The systems that the IRS has for monitoring businesses has evolved over the years, and even if the system takes a while to discover your omission, it will discover it.

If you live in Arizona and have not filed your employment or other taxes, Silver Law PLC can help. An experienced tax attorney from our team will help you file the appropriate forms and work to help you avoid or minimize penalties.

No matter how much time has passed, it is important that you file your employment tax returns, not federal and state. The longer you wait, the bigger the penalties will be. And if you are facing a decision to not file your return or to not pay your taxes, it is far better to not pay than it is to not file in terms of the penalties.

The failure to file penalty is 5 percent of the total balance for each month, or portion thereof that passes since the return was due. The total amount can be up to 25 percent of the total balance.

The failure to pay penalty is 0.5 percent of the balance for each month, or portion thereof. If your company is large enough, there is also a failure to deposit penalty if you fail to deposit employment taxes on a timely basis.

In addition to these penalties, the IRS can also charge interest on the balance. The longer you wait to file, the more fines you will face.

The IRS can also criminally investigate your company and you for failure to file and/or pay your employment taxes.

Working with an experienced Utah tax lawyer can help you to minimize penalties.

If you owe a lot of money, a tax lawyer can help you create a payment plan or even reach a settlement with the IRS. In some cases, your lawyer may be able to show that you cannot pay the tax and have you be declared "uncollectible."

Silver Law PLC in Arizona is experienced in representing clients in criminal and civil tax litigation at the local, state and federal levels, and our team can help you with individual, corporate or other tax returns. We will help you file the appropriate forms so that you can be in compliance with the IRS, and we can help you set up an installment agreement or fight for a penalty abatement. Call us today to file your overdue employment taxes and get in compliance with the Arizona Department of Revenue or the IRS today.

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Silver Law, PLC

7033 East Greenway Parkway, Suite 200
Scottsdale, Arizona 85254

Office: (480) 429-3360
Website: https://www.taxcontroversy.com