Friday, October 9, 2015

How Does the IRS make 941 - Substitute for Returns? Pretty Easy: Using your W2's.

If you are a business that has forgotten to file your 941's, the IRS sometimes might file them for you. They file these Substitute for Returns(SFR's) by collecting your W3 information which summarizes your employee's W2's, info which is found at the SSA. The IRS usually get the amounts correct.  But you certainly can refile the 941's to replace the "SFR's."

What if you didn't file W2's either? Well - that definitely is a situation where you will benefit calling In almost all circumstances, you want to file the W2's - you owe it to your employees who had paid into the system for themselves. But there's a lot of issues to discuss - particularly when your business is closed or closing, etc.

Washington Tax Services, 26 years in business solves 941 issues. All kinds - no matter how ugly or complex. Please EMAIL us a description of your tax issue HERE and we'll contact you or call us at 1-888-282-4697 - Monday to Friday and our experts will discuss your 941 issues with you. 

Monday, May 11, 2015

If you have a Tax Lien Against your Business, What's Next? Depends on Your Business...Primarily.

As we have written in previous posts on the 941 Tax Problem Blog, if your business has a large enough 941 debt - you'll probably be getting a call from one or several telemarketers in Colorado. Many of the companies are legit - maybe pricy - but several of them have logged some time in the field of representing taxpayers. Nonetheless, if a tax lien has been placed on your business, it's safe to say it's game on - the IRS has selected you as a company that they are going to pursue.

In the most simple terms, the resolution of your 941 tax problem is going to be dependent on the direction your company will take:

Will your business ...

1. Grow? 
2. Tread water? 
3. Or tank?

Your business is growing? If your business is going to grow and whatever happened before was just a hitch, then you are likely going to be set up into a PAYMENT plan and have a chance to WAIVE penalties on the back end.

Your business is treading water? If you are surviving - paying current payroll taxes and normal business expenses and not much else, then you might just hit the sweet-spot of settling the debt thru Offer in Compromise or having case closed as Uncollectible.

Your business is tanking? If you are business can't be helped, it might be time to consider DISSOLUTION and the positive ramifications that might have your 941 tax problem.

Washington Tax Services and it's knowledgeable consultants is ready to discuss the nuances of your 941 tax problem and offer a solution to your tax problem.  Call us at 1-888-282-4697 or email us your tax situation HERE and we'll call you.