• Porter Capital Blogger

Does Your Company Owe Taxes to the IRS?

Porter Capital has the experience and expert knowledge to help your company quickly solve its IRS tax issues and protect your company’s assets from being transferred to the government so you can get the financing you are looking for to continue operating without unneeded delay or inflated credit processing issues.

  1. Does your company or small business currently owe taxes to the IRS? Have an IRS or EDD audit? Possibly even an IRS or EDD bank account tax levy?

  2. And / or, has an official Revenue Officer been assigned to your company by the IRS?

  3. And / or, are your invoices or accounts receivables being garnished by the IRS?

If you answered yes to any of these questions, you must act quickly to resolve any failure to pay payroll or other taxes owed to the IRS (aka the Internal Revenue Service), otherwise your business could be in serious jeopardy of closing its doors. If your company has employees, paying employment taxes is inevitable – think of it as a cost of doing business in the United States of America. You withhold taxes from employee pay and afterwards you have a fiduciary duty to send the money to the IRS. These taxes are called trust fund money and it by law belongs to the government. The IRS is severe in dealing with businesses that do not adhere to the tax code in this country. You may have a good excuse but we are here to tell you that when it comes to the IRS, there is no good reason for not paying these employment taxes to the government, especially if your company is using the money for something else (as in operating expenses, etc.); for this you should look into invoice factoring.

In 2018, the IRS issued 4,921,398 civil penalties on employers who failed to pay employment taxes, according to the IRS Tax Data Book, 2018. Note that a particularly severe penalty applies to employers, in situations where federal payroll taxes are not paid to the IRS. The IRS will most-likely come out and make personal assessments against all responsible persons of the offending company. "Responsible persons" to the IRS could mean company officers, directors, and anyone who makes decisions about how to pay employees or even those that have check-signing authority. If a company is found to be in violation of IRS Tax Code a penalty of up to 100% of the amount not paid can be assessed against the social security number of any person (such as all corporate officers, company payroll person, and the board of directors) having control or custody of the funds from which payment should have been made. This penalty is called a Trust Fund Penalty and any proposed assessment have a very short time-limit in which an appeal can be filed, for these reasons you need to contact the team here at Porter Capital to learn how to fix these issues.

Our tax resolution department specializes in securing results through working with high level government contacts and U.S. Congressman, if necessary, to save a business and help put it on the path of financial success - and 100% good standing with the IRS. We can do this is by removing a tax lien or levy in a quickly as 24 hours, given the right circumstances, help your business set up a payment agreement, and then secure a Penalty Abatement or complete an Offer in Compromise with the IRS. Thanks to our partnership with high-profile corporate tax attorney Elizabeth Nelson, Esq. we can help you solve all the outstanding IRS issues your business might be currently dealing with, including garnishment of accounts receivable, bank levy, communicating and negotiating with a revenue officer that has been assigned to your company, or just helping guide you through the process of dealing with the IRS. Under no circumstances should you or someone from your company talk to the IRS yourself, about any outstanding business taxes, payroll taxes, or possible litigation filed by the Internal Revenue Service.

Ms. Elizabeth Nelson, Esq., a seasoned expert with a reputable national law firm with an expertise in tax matters. She can advise on Payroll tax and other business tax issues. Time after time she has helped companies lower its payroll tax by as much as 50%; saved a corporation $2.8M in IRS payroll taxes and fees, reversed IRS tax penalties of $1.2M against a company's Board of Trustees and Corporate Officers, saved over $1.7M in IRS employment taxes by negotiating down an offer in compromise with the government, which was ultimately accepted at just $175K, all tax liens removed from the business. Please refer to her bio for specifics about her IRS Tax practice and more of her success stories at: https://www.ckrlaw.com/locations/north-america/los-angeles/elizabeth-nelson.html.

If you're interested in learning more about Porter Capital and the financial services we offer to businesses, please fill out the form below and our advisors will be in touch. . .

  • White LinkedIn Icon
  • White Facebook Icon
  • White Twitter Icon

2112 1st Ave. N.

Birmingham, AL 35203