Employers are not only liable to pay income tax as individual, but also they must pay tax on behalf of their company. That's why sometimes they need business tax debt solution when they have difficulty paying their taxes to IRS. Generally, four types of business taxes are there for which business owners are liable to pay. These are given below.
1. Income Tax: Business owners are responsible to pay an income tax for their company throughout the year, as profit is earned, otherwise they will have to pay an estimated income tax if they fail their payment. To pay extra due to late payment is not in their best interest.
2. Employment taxes: Employment taxes include Medicare, Social Security, Federal Income Tax and Federal Unemployment Tax. These types of taxes are paid by employers on behalf of their employees.
3. Self-employment tax: This kind of tax is paid by those people who are self employed and work for themselves.
4. Excise tax: Excise taxes are included in the price of manufactured products which is generally paid by the customers.
If you are facing problem to pay these kinds of taxes and would like to take some debt solutions from a tax professional about penalty, installment and collection procedures, tax debt solutions is the best source for you. Within tax debt solution network you can find an expert who will help you discover some solutions for tax debt relief.
Payroll Taxes
According to USA law employers can withhold certain amount from the salary of their employees to remit payroll taxes to the government. It includes Medicare, Federal, State Income Taxes and Social Security.
Sometimes employers doesn't pay proper payroll taxes for all of their employees and in result again these taxes are attributed to employees. In this situation a tax professional can help you in resolving the resulting debt.
Within the tax debt solution network, you can find many expert and debt companies who can help you to settle your tax debt with the IRS.
2. Employment taxes: Employment taxes include Medicare, Social Security, Federal Income Tax and Federal Unemployment Tax. These types of taxes are paid by employers on behalf of their employees.
3. Self-employment tax: This kind of tax is paid by those people who are self employed and work for themselves.
4. Excise tax: Excise taxes are included in the price of manufactured products which is generally paid by the customers.
If you are facing problem to pay these kinds of taxes and would like to take some debt solutions from a tax professional about penalty, installment and collection procedures, tax debt solutions is the best source for you. Within tax debt solution network you can find an expert who will help you discover some solutions for tax debt relief.
Payroll Taxes
According to USA law employers can withhold certain amount from the salary of their employees to remit payroll taxes to the government. It includes Medicare, Federal, State Income Taxes and Social Security.
Sometimes employers doesn't pay proper payroll taxes for all of their employees and in result again these taxes are attributed to employees. In this situation a tax professional can help you in resolving the resulting debt.
Within the tax debt solution network, you can find many expert and debt companies who can help you to settle your tax debt with the IRS.
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