Think You Can’t Afford to Pay Your Payroll Taxes-Think Again
Failing to remit payroll taxes is a big mistake! Sometimes a business owner will let the payment of payroll taxes slide in favor of paying other vendors OR perhaps will make a partial payment, thinking it will be ok -- not a good idea ----- always remit the full amount of your payroll taxes before paying other bills. Here are a couple of examples why. If you have check writing authority and it can be shown that you were aware your company or client paid other expenses when payroll taxes were due, the IRS can come after you for the taxes, penalties and interest. D and her husband were equal owners and sole corporate officers of a business. After they separated, they continued to run the business. The firm…