FAILING TO PAY PAYROLL TAXES FOR YOUR BUSINESS? If you pay people to work for you, you are required to collect and pay payroll taxes. The IRS receives 70% of its annual revenue from payroll taxes, but 18% of the tax gap is due to unpaid or unreported payroll taxes. This tends to upset the IRS. What if you're part of that 18%? That's what this post is about. You can make this right, but like unpaid income taxes, unpaid payroll taxes incur penalties and interest. Defining Payroll Taxes The term payroll tax covers a little ground. In general, it means all employment taxes applying to your business. Those taxes can include: Income taxes FICA taxes Unemployment taxes Other taxes - state and local FICA includes Social Security and Medicare withholdings while income tax is withheld according to your employee’s W-4. Federal and state governments require you to pay unemployment taxes to help them pay unemployment benefits as needed. CONTINUE READING HERE: https://advancetaxrelief.blogspot.com/2022/05/failing-to-pay-payroll-taxes-for-your.html NEED HELP WITH OFFER IN COMPROMISE, TAX SETTLEMENTS, TAX PREPARATION, AUDIT REPRESENTATION OR STOP WAGE GARNISHMENTS? ADVANCE TAX RELIEF LLC Call (713)300-3965 http://www.advancetaxrelief.com BBB A+ RATED Advance Tax Relief is rated one of the best tax relief companies nationwide. #TaxDebtHelp #TaxResolutionCompany