Nashville Commercial Business Bankruptcy Lawyers
Payroll taxes are one of the most important expenses of any business. Employers are required by law to withhold payroll taxes from employees' earnings. Employers must submit payroll taxes periodically, usually monthly or each quarter. Businesses in a precarious financial situation may attempt to avoid paying the federal government the proper amounts of payroll taxes. This is short sighted, and will almost always come back to haunt a business.
The IRS takes payroll tax violations very seriously. If you have not paid payroll taxes, the IRS has a number of enforcement mechanisms, including the seizure of business assets, substantial penalties, as well as interest and fines. These measures can cripple a business that may already be having serious problems.
If your business is having problems meeting payroll tax obligations, it is vital to speak with a qualified lawyer. The law firm of David F. Cannon has substantial experience advising businesses that are enduring financial problems.
Chapter 11 Bankruptcy Can Offer Some Relief to Unpaid Payroll Taxes
Filing Chapter 11 bankruptcy can provide a business with the time it needs to reorganize and restructure its financial obligations, including unpaid payroll taxes. Payroll taxes are not dischargeable in bankruptcy. Once you file bankruptcy, however, additional penalties and fines associated with unpaid payroll taxes cease. Our law firm can work with you and the government to seek any applicable solutions to your problems, such as an offer in compromise, repayment plan or other solution. In every instance, we will fully dedicate ourselves to helping you reach an agreement with the IRS that allows you to continue operations.
Contact the Business Bankruptcy Law Firm of David F. Cannon
If you have payroll tax problems, you need to speak with an attorney immediately. Call 615-800-3725, toll free at 877-696-8680, or e-mail our law firm today to schedule a confidential consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
