Comply With Employment Tax Rules Or Get Help If You Did Not
To stay in compliance with local, state and federal employment tax laws, business owners must understand the rules, put appropriate processes in place and act promptly when compliance is in question. Astute employers seek the counsel of experienced employment tax law attorneys to stay in compliance. In case of allegations by the IRS or another taxation agency of willful noncompliance, business owners or fiduciaries may need aggressive defense representation.
Kundra & Associates, P.C., has been a reliable source of information, guidance and advocacy for Maryland and Washington, D.C., area employers for several decades.
Rules, Processes And Defense Actions
Some of the employment tax rules that our clients may need help to comply with include:
- Correctly classifying workers as contractors (who will handle their own taxes) or employees (for whom the employer must collect, hold and submit payroll taxes)
- Collecting the taxes from employees’ paychecks
- Holding the taxes in trust before passing them on to the government
- Submitting payroll taxes to the government regularly and on time
For a customized review of your business’s employment tax law compliance needs, request a consultation by contacting Kundra & Associates, P.C.
Processes that employers need to stay up to date on consistently include:
- Consistent, timely reporting to the IRS income and employment taxes withheld from their employees on an Employer’s Quarterly Federal Tax Return (Form 941)
- Depositing payroll taxes in full to an authorized bank or financial institution according to the Federal Tax Deposit Requirements.
- Filing an annual Federal Unemployment Tax Act (FUTA) return
- Depositing the unemployment taxes accurately and timely
A timely response when employment tax compliance is question may involve one or more of the following:
- IRS employment tax audit defense
- Defense when the IRS has imposed a Trust Fund Recovery Penalty (“TFRP”) on a business or an individual within a business.
- Defense of a business whose finances have been plundered through embezzlement by an accountant
- Negotiations with the IRS to arrange for a business to get back in compliance through a repayment plan
Ensure Employment Tax Law Compliance For Your Maryland Or D.C.-Area Business
In the words of the IRS, “employers may be subject to criminal and civil sanctions for willfully failing to pay employment taxes.” Our tax law firm is available to help you set things straight when the IRS or another government taxation agency claims that your business did not withhold and submit payroll taxes.