If you own or have owned a business in the past, the IRS collects what is called "941/940 payroll taxes" - commonly known as employment taxes. The 941 tax is due every operating quarter (four quarters a year), and the 940 is due annually. If they are not paid, the IRS can and will levy against anything you own. Penalties and interest will continue to accrue, which could mean an IRS lien or other devastating action. The penalties and interest alone can get very high, thus increasing the total tax liability. This is widely considered to be the worst form of tax debt, as the IRS considers it "stealing" directly from the government. If these taxes are neglected long enough, the business can be closed and all assets seized to satisfy the debt. Should the business close and the IRS seizure of all assets not satisfy the tax liability, the individual shareholders, officers and employees will be held accountable and liable. Non-payment of 940/941 payroll tax liabilities is then attached to personal social security number and personal tax returns, since the IRS will file Civil Penalties. This is one situation where professional tax help is essential.

Power Tax Relief will represent you and negotiate on your behalf to prevent any levies and property seizures, providing much-needed federal and state tax relief. We will also arrange an affordable installment agreement.