Non-Filed Tax Returns
Cole, Newton & Duran can give you the peace of mind you deserve by helping you get in compliance with the law. If you voluntarily file your delinquent returns, you will likely avoid further problems other than having to pay interest and penalties. If you wait for the IRS to file your returns for you, they are filed in the best interest of the government, usually with little or none of the deductions you are entitled to.
Payroll Tax Problems
The IRS views failing to pay payroll taxes as a serious offense because a large portion of payroll taxes are your employees' withholdings. Not paying your company's payroll taxes is equal to stealing your employees' money in the eyes of the IRS.
As a result, penalties for failing to pay your payroll taxes and filing your payroll tax returns on time are much more severe than other types of penalties. They can drastically multiply the amount you owe in a very short time.
Please be aware if you are behind on paying payroll taxes for your business. The IRS is aggressive in pursuing collection on this type of tax. The IRS can seize your business assets, sell your assets at auction, and even close your business.
If you are behind on your payroll taxes, do not meet with the IRS on your own. How you answer their questions can determine whether you stay in business or not. It is critical you hire a professional who understands how to work with the IRS.
IRS Audit Representation
Audits take significant time away from your business and family, requiring you to gather mounds of records substantiating every item reported on your tax return and develop a comprehensive understanding of tax law. If you do not comply with the auditor, the IRS most likely will recalculate your tax and provide you with a significant tax bill.
Cole, Newton & Duran’s professionals can help by standing in on your behalf during an IRS audit. Our team of tax professionals provide services that include stopping wage garnishment and bank levies, lifting tax liens, ending penalties and interest, negotiating fair payments on your behalf, settling tax debt, offer in compromise, and more.
Other IRS Services
If you are subject to IRS liens, IRS levies, IRS wage garnishment, or IRS seizures, our tax professionals can help advise you through these situations. We can help you understand why you are being contacted by the IRS and provide solutions that are best suited for your situation.