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Payroll Tax Debt Relief
The easy way to catch up when you’re behind on payroll taxes
You Can Settle Your Payroll Tax Debt
Falling behind on payroll taxes is easy when you’re busy running a business. It’s common for employers to get behind, then face pressure from the IRS to pay. Some businesses fall so far behind they don’t respond because they can’t pay the tax debt all at once. This is a mistake, as the problem just gets worse with penalties and fees, and can eventually lead to levies against assets.
What is Payroll Tax Relief?
Payroll tax relief is a service the Tax Hardship Center offers to business owners that fall behind on their payroll tax obligations. Whether the taxes went unpaid due to error, inability to pay, or because the business closed down, you’ll still need to address the owed taxes. Our payroll tax relief services assess your circumstances and helps you understand your best options to clear your up your tax debt.
What are Business Owners Required to Withhold from Employees?
When you have employees you must withhold Social Security, Medicare and Federal Taxes from all W-2 employees’ wages. It’s your responsibility to remit these employee withholdings or payroll taxes to the IRS. There is also an unemployment tax for each employee. These payroll taxes should be sent to the IRS on a quarterly basis.
Types of Payroll Taxes and Withholding Percentages
Payroll tax rates can change year-to-year, so make sure you have the current year’s rates before filing. The following are the payroll tax rates for 2022:
- Social Security Taxes: Both the employer and employee will contribute 6.2% for a total of 12.4%.
- Medicare Taxes: Both the employer and employee will contribute 1.45% for a total of 2.9%
Self Employment taxes: Individuals running their own business can expect to pay a total rate between 15.3%-12.4% for Social Security and 2.9% for Medicare.
How we work?
Tax Penalties for Not Paying Payroll Taxes
Work with a Tax Professional to Resolve Payroll Tax Debt
The easiest way to get your payroll tax debt resolved is by working with a professional tax relief company that has experience with payroll tax resolution. You can try to deal with the IRS on your own, but unless you have a lot of time, patience, and knowledge, the experience is overwhelming for most business owners. An experienced tax resolution company can negotiate on your behalf and make sure you take full advantage of any IRS tax relief program that you qualify for.
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Work with the Tax Hardship Center
If you owe money to the IRS, the Tax Hardship Center is here to help. With an A+ rating from the Better Business Bureau and business licensure in all fifty states, you can feel confident that we are here to help. Our tax professionals have experience in dealing with every type of tax problem and working directly with the IRS to solve these problems for our clients.