Payroll taxes troubles is the largest portion of the tax resolution cases we handle in our office. The issue is why? That is what I will be addressing in this post today. Given that most businesses fail due to cash-flow issues, it should not be surprising that taxes collected and withheld by the business also get spent when the business starts to struggle. Add to that most businesses start their life cycle under-capitalized,...
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We are all familiar with the annual tax filing ritual; around January, most people collect their tax documents to file their tax returns by the deadline. However, some people sometimes or always need an extension. All of the information is gathered after the tax deadline of April and filed before the extension deadline. There is another group of people, that don’t meet the extended deadline, and their tax return is late and unfiled....
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