No one likes paying taxes or dealing with the IRS, but operating a business without some tax awareness is like standing in front of a fast moving train. The outcome is certain and will end in disaster.

Employers are required to deduct and withhold a specified percentage of their employee's wages and then pay that amount to the IRS. This money is held in trust by the employer for the Federal Government. The IRS considers employment taxes as the Government's money, not your money, not the employee's money, but money belonging to the United States Treasury. The IRS takes this very seriously and is extremely strict with regard to the payment of employment taxes and the collection of outstanding employment tax obligations.

If your business is struggling and hits a rough patch, you may be tempted to just not file employment tax returns until you have the money to pay the tax. This is a big mistake. You will have to pay not only the tax but also large penalties for not filing the return on time, not making federal tax deposits, not paying the tax and interest.

In addition to penalties and interest, you or anyone who has the authority to sign checks can be held personally liable for all taxes not paid to the IRS. You may want to review the section on Trust Fund Recovery Penalty on this web site.

Few creditors have the collection power of the IRS. Few creditors can shut your business down and collect their money faster than the IRS.

We are confident members of our staff can assist you in resolving your tax situation. Please contact us as quickly as possible so we can get started and avoid even more serious tax problems and compounded penalties down the road.

You can reach TPS by telephone at 678-518-4442; toll free at 1-866-518-4442; by fax at 678-518-4064 or email at taxspecialists@bellsouth.net .