Payroll taxes are the number one reason why small businesses get into tax trouble. Why? Because payroll taxes are the easiest loan to take and the hardest to repay. Easy to take because there is no loan document to complete and no banker to refuse: just keep the tax money and spend it. They are the hardest loans to pay back because once the IRS applies the various penalties and interest the balance increases to the point the business cannot easily pay it back. In addition, the IRS will begin pursuing the owner and other responsible employees personally for the trust fund portion of the taxes! Payroll Tax cases also are an opportunity for practitioners to make money while saving businesses, their owners and hundreds or even thousands of employee jobs.
If you are interested in adding to your existing practice, launching a new practice or just helping to save clients from the payroll tax nightmare they are in, this book is perfect for you. This guide steps you through the procedures you need to know to help tax clients with payroll tax problems. The key is to understand the process the IRS pursues against both the company and the owner and responsible individuals, and this book walks you through the IRS process and explains where the opportunities are so you can wisely counsel your client.
This knowledge is in great demand. Most tax practitioners do not know how to do this, more than 15 million people owe the IRS money, and many of them need the help of a tax resolution professional. The need for practitioners who understand this area is huge!
Included in this book are case studies and so you can follow real life examples, 29 exhibits showing completed forms and letters you need to learn, and a Payroll Tax Client Checklist for you to use with potential clients at the end of the book. It’s everything you need to understand how to help clients navigate and negotiate the Payroll Tax Debt with the IRS.
About the Author
Attorney Eric L. Green is a nationally recognized Tax Attorney whose talks have educated thousands of tax practitioners. He is a partner in the law firm Green & Sklarz LLC based in Connecticut and the founder of TaxRep LLC, an online member-driven organization of IRS tax representation professionals.
His law practice is focused on civil and criminal taxpayer representation before the IRS, Department of Justice Tax Division, Connecticut Department of Revenue Services, New York Department of Revenue and Massachusetts Department of Revenue.
Eric is a Fellow of the American College of Tax Counsel, an organization in which membership is an honor reserved for those at the top of their chosen profession. A frequent lecturer and author of two books and hundreds of articles, Eric is often quoted in the Wall Street Journal, USA Today, CreditCard.com and Consumer Reports Financial News.
Inside the Book
This book includes:
- 7 chapters on the processes you need to know to serve payroll tax clients
- Payroll Tax Case Checklist
- 4 Case Studies
- 29 Exhibits including Sample Protest of the Proposed Trust Fund Assessment, Sample Freedom of Information Act Request, Sample Refund Suit Filed in United States District Court, Sample Indictment for Payroll Taxes, Sample Affidavit, Letter Deeming the Taxpayer Uncollectible, and much more
Table of Contents
i. About the Author
ii. Why Businesses Get Into Trouble With Payroll Taxes
1. How Payroll Taxes Work
2. Third-Party Liability
3. Assessment & Collection Against the Company
4. Assessment Against the Responsible Party
5. Challenging the Trust Fund Assessment
6. Strategies for Minimizing Personal Liability
7. Criminal Aspects of Payroll Taxes
8. Case Studies
Checklist: Payroll Tax Case