The Peck Group LC
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Free 30 minute telephone consultation
Comprehensive Tax Law Representation Since 1995
We handle every aspect of tax law: preparing tax returns, representing clients during audits, resolving IRS and state tax controversies, and creating tax planning strategies for the future.

The potential consequences of not paying business taxes

On Behalf of | Jul 14, 2020 | Corporate & Business Tax |

The IRS could shut down companies in Georgia or any other state if they fail to pay their business taxes in a timely manner. However, there are many steps a business owner may be able to take to avoid such an outcome. For instance, it may be possible to enter into a payment plan or to ask the IRS to accept less than what the company currently owes. Those who haven’t filed tax returns in previous years are encouraged to do so as quickly as possible.

The IRS is more likely to show leniency to companies that make good faith efforts to file and pay their taxes in a timely manner. If a business owes back taxes, the owner of the company should pay as much of the past due balance as possible. Furthermore, companies are encouraged to stay current on any balances that they owe today or will likely owe in the future.

Companies should be aware that certain types of tax debts are considered by the IRS to be more important than others. For instance, failing to pay payroll taxes is generally more serious than owing back income or other types of taxes. Those who owe back taxes should also know that IRS agents cannot enter a business or seize assets without permission or a court order to do so.

A corporate & business tax attorney may be able to help those who owe payroll or other business taxes to the federal government. An attorney may be able to establish that an owner intended to file a tax return or pay taxes owed in a timely manner. Legal counsel may get the IRS to release a lien on business assets or agree to waive any penalties or fees that it may have previously assessed.

We insist that your taxpayer rights are protected and your options are known.

Our services are confidential and are protected under the attorney-client privilege as allowed by law.