Payroll taxes are treated differently from other types of business debts. In other cases, the business owner is generally not held personally liable for the debts of their business, provided that they have chosen the proper form of incorporation. However,…
As a business owner, you are legally responsible for calculating the payroll taxes that are owed to the IRS, both by your business and your employees. You must pay these taxes to the IRS on a certain schedule, depending on…
Many people who owe back taxes wonder how far the IRS can go. Some fear that the government might take funds from a retirement plan, such as a 401(k), to cover unpaid debts. These worries can grow when you receive…