The IRS views failing to pay payroll taxes as the "Cardinal sin" of tax delinquency
because a large portion of the payroll taxes are your employees' withholdings. In the eyes of the IRS and other tax authorities to whom payroll taxes may be due, not paying your company's payroll taxes
is tantamount to stealing your employees' money.
As a result, penalties for failing to pay your payroll taxes and filing your payroll tax returns on time can be
much more severe than other types of penalties, and they can drastically multiply the amount you owe in a very short
time.
If you are behind on paying payroll taxes for your company, WATCH OUT!!! The IRS is extremely aggressive
pursuing collection of this type of tax. They would rather seize your business assets, close you down,
sell your assets at auction, and put you out of business than allow you to continue amassing additional payroll tax
liabilities.
If you are behind on your payroll taxes, it is likely not a good idea to meet with the IRS on your own. How you answer their initial questions can determine whether you stay in business or not. It is critical you hire a professional representative who knows how the IRS operates.
