http://taxhelpoklahoma.com/tax... Have you withheld payroll taxes from your employee's paychecks but have not deposited them? Unpaid payroll taxes are a serious problem, which will only get worse with time.
Consider the potential IRS penalties... There is a four-tier system for penalizing late deposits. This system is known as cascading penalties because the later the payment, the stiffer the penalty. The rate assessed depends on the number of days a payment is late, which begins from the due date of the tax.
As an example: You owe a payment that is less than 5 days late. This payment will have a 2 percent penalty assessed. But if you wait longer than 15 days to pay, the penalty jumps up to 10 percent. And once the IRS has to come and ask you for the deposit, your penalty goes to 15 percent.
If you are behind on your payroll tax payments, or have already received notices from the IRS, we can help. We can help ensure that your payments are applied in a way that will get you caught up and minimize your penalty. Go To www.TaxHelpOklahoma.com or Call us at 1-866-584-8259 to schedule a free consultation with our experienced tax professionals.
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