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    Tackle Your Payroll Tax Debt: Proven Strategies Every Sub-Contractor Business Owner Should Know While Dealing With the IRS
    Tackle Your Payroll Tax Debt: Proven Strategies Every Sub-Contractor Business Owner Should Know While Dealing With the IRS
    Tackle Your Payroll Tax Debt: Proven Strategies Every Sub-Contractor Business Owner Should Know While Dealing With the IRS
    Ebook136 pages1 hour

    Tackle Your Payroll Tax Debt: Proven Strategies Every Sub-Contractor Business Owner Should Know While Dealing With the IRS

    By Jacob Merkley, EA

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    About this ebook

    If you are the owner of a sub-contractor business and owe payroll taxes to the IRS, then this book is for you. Regardless if you are going to tackle the problem yourself or want a better understanding of what your tax professional representative is doing, this book will guide you through the IRS collection process.

    As a sub-contractor business owner, you don't have a lot of time to waste. You wear a lot of hats (sometimes quite literally!) that keep you busy all hours of the day. For that reason, this book includes concise, digestible information that is easy to understand so you can get back to working on your business. The knowledge, strategies, and tips found in these pages will help arm you for the tax battle to come with the IRS.

    LanguageEnglish
    PublisherJacob Merkley, EA
    Release dateMay 13, 2020
    ISBN9781513662060
    Tackle Your Payroll Tax Debt: Proven Strategies Every Sub-Contractor Business Owner Should Know While Dealing With the IRS
    Author

    Jacob Merkley, EA

    Jacob Merkley is a licensed Enrolled Agent with the Internal Revenue Service and the Founding Partner of Western Tax Alliance. His formal education includes a bachelor’s in accounting and MBA and has more than a decade of business experience with half of that time representing business clients. Jacob and his wife Joselyn are currently raising a growing family in Arizona.Western Tax Alliance is a specialized payroll tax collection representation and tax strategy expert for sub-contractor businesses and their owners.

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      Book preview

      Tackle Your Payroll Tax Debt - Jacob Merkley, EA

      Tackle Your Payroll Tax Debt

      Copyright 2020 Jacob Merkley, EA

      Published by Jacob Merkley, EA at Smashwords

      Smashwords Edition License Notes

      This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your enjoyment only, then please return to Smashwords.com or your favorite retailer and purchase your own copy. Thank you for respecting the hard work of this author.

      DISCLAIMER

      While every effort has been taken to ensure that the information contained herein is accurate as of the time of publication, tax laws and regulations are constantly changing.

      This publication is meant to provide competent and reliable information regarding the subject matter covered. However, it is sold with the understanding that the author and publisher are not engaged in rendering legal, financial, or other professional advice through the reading and application of knowledge or tips in these pages. Laws and practices often vary from state to state, and as such, the information presented herein is educational in nature, is not individualized, and is not intended to serve as the primary or sole basis for your tax-related decisions.

      If legal or expert assistance is required, the services of a professional should be sought. The author and publisher specifically disclaim any liability incurred from the use or application of the contents of this book.

      Copyright © 2020 Western Tax Alliance

      All rights reserved. No part of this book may be reproduced, stores in a retrieval system, or transmitted by any means, electronic, mechanical, photocopying, recording, or otherwise, without written permission from the author.

      FREE BONUS

      This book is just the beginning of your journey. In order to support your efforts in removing the stress of dealing with the IRS and get your business back on track, we have created a Payroll Tax Resolution Kit. It includes additional instructions, forms, and professional guidance to get your tax problem in check.

      The great news is that this bonus is 100% free. Get access here:

      www.WesternTaxAlliance.com/resolution-toolkit

      Here is what you will receive:

      • 3-Steps to Obtain a Collection Hold Guide

      • A Guide to Federal Tax Lien Removals

      • Scheduled Reminders for Gmail & Outlook (Never Miss a 941 Filing and Payroll Tax Deposit Again!)

      • The Payroll Tax Collection Process Illustration – Where Are You in the Cycle?

      • A Step-By-Step Guide to Completing Form 433-B& the IBTF-E/IBTF Processes

      • Special Report: 5 Questions to Ask Any Tax Resolution Firm Before Paying Them A Dime – in case you do want to hire a professional

      www.WesternTaxAlliance.com/resolution-toolkit

      Please note that this offer is subject to change or substitution at any time.

      SPECIAL BONUS OFFER:

      Discover Your Options

      To determine what resolution options are available to you, we need to learn more about your situation first.

      Most tax resolution companies quote fees for their full service without knowing all the facts around your payroll tax situation. The Investigation of Liability and Financial Analysis service gives us the ability to determine exactly what will be needed to complete your case. We will then create a custom service offering for you that will be 100% accurate.

      Discover Service - Normally $799

      ONLY $499 for Book Customers

      Purchase that service here:

      www.westerntaxalliance.com/discover

      ------------------------------------------------

      Contact Our Team

      Website: https://www.westerntaxalliance.com

      Email: team@westerntaxalliance.com

      DEDICATION

      I dedicate this book first and foremost to my amazing wife and children for their constant love and dedication in all that I undertake.

      Secondly, to those that will read this book. I’m talking about the amazing, hardworking men and women out there who juggle the daily stress of running a sub-contracting business, employing staff members, attempting to live a life outside of work, and fighting the IRS at the same time.

      I tip my hat to you.

      Table of Contents

      INTRODUCTION

      CHAPTER 1: OVERVIEW OF THE IRS AND YOUR RIGHTS AS A TAXPAYER

      CHAPTER 2: EMPLOYER TAX INTRODUCTION

      CHAPTER 3: THE 941 PAYROLL TAX FILING

      CHAPTER 4: TIME: IT’S EITHER ON YOUR SIDE OR THE IRS

      CHAPTER 5: NASTY THINGS THE IRS LEGALLY CAN DO TO YOU

      CHAPTER 6: DETERMINING WHEN YOU NEED PROFESSIONAL ASSISTANCE

      CHAPTER 7: UNDERSTANDING IRS COLLECTIONS AND THE RESOLUTION PROCESS

      CHAPTER 8: FINANCIAL ANALYSIS

      CHAPTER 9: TAX RESOLUTION OPTIONS

      CHAPTER 10: TRUST FUND RECOVERY PENALTY PROCESS

      CHAPTER 11: REDUCING IRS PENALTIES WITH REASONABLE CAUSE PENALTY ABATEMENTS

      INTRODUCTION

      If your business owes money to the IRS, then this book is for you.

      Whether you are going to tackle the problem yourself, or just want to have a better understanding of what your professional representative is doing (or, unfortunately, sometimes not doing), this book is your guide to understanding the whole process.

      But we need to get on the same page regarding payroll taxes; hence, I have put forth a lot of information in the first few chapters that hopefully you already know and understand. All of you are approaching this book with a different level of understanding, so I felt it wise to lay some groundwork first.

      For those of you that would like to skip right to tax resolution specific information, I would suggest starting in Chapter 4 where I reference different time components of taxes and then you can move into Chapter 5 and the rest of the book.

      As a sub-contractor business owner, I know you do not have a lot of time to waste. You wear a lot of hats (sometimes quite literally) managing projects, handling the operations work, hiring and firing staff, and likely also on-site doing labor assignments as needed.

      I know it keeps you busy all hours of the day.

      Where possible, I will try to keep this information concise, easy to understand, and quickly digestible so you can get back to working on or in your business.

      The IRS Code, Manual and Publications are typically anything but easy to understand and digestible, we have tried to do that here.

      Before you jump right in, I do want to mention that I respect you for the work you do. I respect you for keeping your chin up in hard times and grinding it out day in and day out in a difficult industry and profession.

      I certainly respect you for having the courage to pick up this book in hopes to get your business right with the IRS.

      It is not an easy thing to do; yet here you are.

      To every hardworking sub-contractor business owner out there that is currently facing the brunt of the IRS collection force, I plead with you to read this book and face them head on. You deserve a chance to get things moving in the right direction. And that is what this book will help you do.

      Your tax Business Partner,

      Jacob Merkley, EA

      CHAPTER 1:

      OVERVIEW OF THE IRS AND YOUR RIGHTS AS A TAXPAYER

      Overview of the IRS

      The Internal Revenue Service (IRS) is, in its simplest form, a collection agency. It collects tax revenue for the federal government of the United States of America. In addition to collecting tax revenue, it also administers the Internal Revenue Code, which is the broader federal statutory law of the United States.

      That statutory law governs how and when individual taxpayers and businesses are expected to pay their taxes and report those taxes through tax filings. They also have the right to conduct an examination of past tax filings and amount paid, as well as trying to identify fraudulent taxpayers.

      The IRS also governs how practitioners (like me) and other Enrolled Agents, tax attorneys, and CPAs represent their clients before the IRS.

      With regards to their main role as a collection agency, the IRS collects these types of taxes for the federal government:

      • Individual Income Tax

      • Corporation Income Tax

      • Employment Taxes (also known as Trust Fund taxes),

      • Estate and Gift Taxes

      • Excise Taxes

      From time to time, the U.S. Congress passes certain tax measures that are added to the Internal Revenue Code and then are governed by the IRS. For example, when the Affordable Care Act (Obamacare) was put into law in

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