PAYROLL TAX PROBLEMS DR PHILLIPS

Payroll is complicated for any business, and it can be even trickier for restaurants, where tips, servers and kitchen staff all come into play. For owners along Restaurant Row and throughout Dr. Phillips, one difficult stretch can lead to late deposits. That is a problem worth fixing quickly.

This debt can become personal

Withheld income tax and employees' share of Social Security and Medicare taxes are held in trust for the government. If they are not paid over, the IRS can assess the Trust Fund Recovery Penalty against people it finds responsible. Closing the business does not necessarily make that liability disappear.

Questions to ask yourself

• Have all of your quarterly Forms 941 been filed?
• Were your deposits made on time and in the right amounts?
• Are tips being reported properly?
• Do you know who is responsible for making sure payroll taxes are paid?

How we help

We can review your payroll records, identify what is missing and provide IRS tax representation. Together, we can then look at resolution options and your cash flow, and make sure current taxes stay paid while the older balance is addressed.

Your neighbor on W. Sand Lake Road. Our office is at 7380 W. Sand Lake Road, Suite 500, Orlando, FL 32819. Call 407-720-7220 or send us a message to make an appointment.