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Payroll Tax Lien Information Brigham City UT

A payroll tax lien is particularly ugly because the tax code authorizes the IRS to assess a 100 percent penalty against responsible parties. This 100 percent penalty is determined by assessing the amount of tax due and doubling it.

Mr. Gregory W. Williams (RFC®), CFP, CHFC, CLU, LUTCF, MSFS
(801) 453-2271
6340 South 3000 East, Suite 500
Salt Lake City, UT
Company
Exit Strategy Specialists, LLC
Qualifications
Years of Experience: 26
Membership
IARFC, MDRT, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Business Coach, Charitable Planning, Education Plan, Asset Protection, BuySell, Compensation Plans

Data Provided by:
H&R Block
(801) 546-3091
27 S FORT LN
LAYTON, UT

Data Provided by:
H&R Block
(801) 262-0758
4871 S STATE ST
MURRAY, UT

Data Provided by:
Liberty Tax Service
(866) 871-1040
366 S 500 E
Salt Lake City, UT

Data Provided by:
Robert Blake Accounting and Tax
(801) 763-8295
9626 Dorchester Drive
Cedar Hills, UT
 
Mr. A. Wayne Margetts (RFC®), LUTCF
(801) 532-1871
175 S Main St, Ste 1050
Salt Lake City, UT
Company
LPL
Qualifications
Education: BSc (Math)MBA
Years of Experience: 16
Membership
IARFC, MDRT, NAIFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Long Term Care Insurance, Group Insurance, Charitable Planning, Education Plan, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

Data Provided by:
H&R Block
(801) 255-3231
7065 S STATE ST
MIDVALE, UT

Data Provided by:
H&R Block
(801) 294-7998
75 E 2200 S
BOUNTIFUL, UT

Data Provided by:
H&R Block
(435) 884-3076
124 W MAIN ST
GRANTSVILLE, UT

Data Provided by:
H&R Block
(801) 832-8932
2356 S FOOTHILL dr
SALT LAKE CITY, UT

Data Provided by:
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Payroll Tax Lien Information

Payroll Tax Lien

The IRS has numerous methods for keeping taxpayers in the system. If these efforts fail, business taxpayers can face the very ugly situation of a payroll tax lien.

Payroll tax liens are some of the worst liens pursued by the IRS. Ostensibly, the IRS views the failure to deposit payroll taxes as a form of theft. The reason for this is a percentage of the payroll tax deposit is actually taken out of the paychecks of employees. As a business owner, you are a trustee collecting and depositing these amounts with the IRS. When you fail to make the deposit, the IRS brings all of its guns to bear upon you and your business.

A payroll tax lien is particularly ugly because the tax code authorizes the IRS to assess a 100 percent penalty against responsible parties. This 100 percent penalty is determined by assessing the amount of tax due and doubling it. For example, if your business fails to make a payroll tax deposit of $10,000 and the IRS penalizes you, the penalty will be $10,000 or 100 percent of the missing deposit. As you can see, the 100 percent penalty is an absolute killer and it behooves you to pay the payroll tax if at all possible.

Payroll tax liens become even more painful when one begins to understand who the IRS can go after. If you think the penalty can only be brought against the business, you are incorrect. Instead, the payroll tax lien can be asserted against any person in the business who meets the following tests:

1. Had a duty to account for the payroll taxes;

2. Collected payroll taxes; and

3. Previously deposited payroll taxes.

Any person who meets these three tests can be personally pursued by the IRS for all amounts due. This is true even if the person is not an owner or officer of the business. The specific test can vary a bit by the type of business entity you have, but it is still a nightmare situation. Put another way, such people face an unmitigated disaster if the IRS comes calling.

If the IRS files a payroll ...

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