Failure To Withhold Employment Taxes - Don't Anger The IRS
When you are told that employment taxes are an important part of a business, you should believe it. The failure to handle withholding from your payroll properly and to prepare and file reports timely will lead to a severe penalty from the IRS. The obligation to make sure that the withholding of taxes from the employees on your payroll is done properly is a serious one for any employer. It does not matter if you have only one or two employees. The failure to obey the laws on employment taxes can lead to a serious IRS penalty. Many a new small business owner has been overwhelmed by the seemingly endless packets of forms and booklets that arrive from the IRS and the State when you begin your business. ...
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