Behind on Payroll Taxes? There's Hope
All employers who hire workers have to submit payroll taxes to the IRS each quarter. Problems arise when a business doesn't have the funds to pay these taxes on time. Companies may run into trouble when their customers don't pay their invoices on time because this may cause them to run out of the money they need to submit their taxes to the IRS. Legally, the IRS can close a business for failure to pay payroll taxes in a timely manner. If you fall behind on your payroll taxes there are a few steps you can take to settle your account. 
Get Current on Your Past Returns
The first thing to do is to get caught up on your entire past payroll tax returns. If you haven't submitted a few of them due to concerns about funds complete those and send them in right away. You should do this even if you don't have the money to pay the taxes you owe. Once you've completed the past forms set aside enough money to pay the payroll taxes that are due for your most recent quarter. Then make sure that you complete your forms and pay your payroll taxes from there forward. This will leave you with only the back payroll taxes to settle and will likely keep the IRS from closing your business.
Don't Contact the IRS on Your Own
To settle the back payroll taxes it's essential that you don't talk to the IRS by yourself. Revenue agents may attempt to get to you to incriminate yourself in a phone conversation by asking questions about how your business is run or the number of employees you have. Make sure that no employees in the office speak with IRS agents about the business.
Enlist the Help of a Tax Specialist
Hiring the assistance of a qualified tax resolution specialist is a great way to protect yourself from IRS collections. There are several tax relief programs that you may qualify for including an offer in compromise or penalty abatement. An offer in compromise may allow you to have your entire tax debt forgiven while penalty abatement can help you avoid paying any additional late filing penalties on top of your back payroll taxes. An experienced tax resolution specialist can assist you to apply for these and other relief provisions.
If you're behind on your payroll taxes don't panic! By completing all of your past returns, paying your current tax due, avoiding contact with the IRS and getting a tax specialist to help you you'll be able to settle your payroll tax problems and keep your business open.
*Image courtesy of Flickr