Small Business: Don’t Screw Around with the IRS.
It’s going to be a bumpy ride…Many small businesses get into trouble with the IRS because they either didn’t file their quarterly taxes, or don’t file their 941 payroll taxes correctly. Once you find out you owe the IRS contact them immediately to negotiate a solution. Because doing nothing, or waiting for the IRS to contact you can not only cause your debt to increase with interest and penalties, but when agents show up at your door your business can be sunk.
As a former IRS-Hitman, I’ve overseen the closing of dozens of small businesses because the owner didn’t take action to deal with the debt.
We would put a lien on your business forcing you to shut down while we assessed your assets. We then seized equipment, company vehicles, even the kitchen sink to pay down your debt. Even if you are able to re-open you’ve lost a month’s revenue and your ability to generate any kind of business is hampered, or impossible.
That’s not all! The IRS can also garnish any money you have coming in. Your profits go straight into Uncle Sam’s pocket. This means you can’t pay employees, improve or replace equipment or fixtures. If you own a business such as catering where you have contracted jobs, we contact the people paying for your services and make them pay the IRS their due before you get the check. This can hurt your reputation, after all who wants to deal with a business that can’t pay their taxes.
Is this the end? What it took you a lifetime to build can be gone in the blink of an eye if you don’t take care of an IRS debt. If you want to keep your business running I have some tricks up my sleeve. You can enter into a payment plan with the IRS; they do dictate the payment terms. However it is better than letting the IRS seize your business assets and cause you to shut down. You can get penalties taken off the debt if you can prove the debt was caused by theft or embezzlement, and that can lower your debt total by 30-40%.
Don’t let the IRS take your dream and turn it into a nightmare. Keep up with your finances, and file your quarterly returns on time.
Now you have the smoking gun…Use it!
Richard Close was an IRS-Hitman. He took out anyone who owed the IRS money as his father had before him. Now he helps thousands of Americans beat Uncle Sam and save thousands of dollars. Tax problems? Contact him and get free tips and techniques to deal with wage and bank seizures and slash tax debt: email at irs-hitman@taxdefensenetwork.com or call 1-888-248-9058. Visit http://irs-hitman.blogspot.com or www.taxdefensenetwork.com
This article is free for republishing
Source: http://www.goinglegal.com/article_461142_75.html
Keywords: assets, blink of an eye, bumpy ride, company vehicles, disaster
, dozens, high priority, hitman, irs, kitchen sink, lifetime, payroll taxes, priority target, profits, reputation, small business owner, small businesses, tax debt, tricks up my sleeve, uncle sam.