Haag Law Offices, P.A.
Outstanding corporate legal advice & services throughout the twin cities

Employment Taxes Archives

Overview of Employment Taxes

Withholding the right amount of federal and state taxes, and remitting the same to the respective agencies is one of the most important aspects of running a business. Many businesses fold each year from the pressure of payroll tax audits and the subsequent tax assessments. In recent years the auditors have become more aggressive, and the tax assessments have grown. Also, the IRS has become more inclined to disregard the business entity and personally assess the owners and officers of a business under the "responsible person" rules. Under these rules, the IRS can attack pensions, trust funds, homes and cabins for collection purposes.