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The IRS is After my Small Business

The IRS is After my Small Business

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Running a small business has many challenges, including compliance with a variety of federal and state laws. One of the most important sets of laws with which you must comply is the United States Tax Code. The Internal Revenue Service (IRS) pays close attention to the taxes on small businesses and if there are errors or omissions made, a lot can be on the line as your business assets – or even your personal assets – may be threatened.

If your small business owes back taxes, you should know that you have options to resolve the matter and keep your operations going. You should consult with an experienced IRS debt relief attorney as soon as possible.

Costs of Ignoring Tax Debts

Many small business owners believe that if they simply ignore their back taxes, they will fly under the radar and the IRS will leave them alone. In reality, the IRS will come after you sooner or later and you may owe significantly more than you thought you did because you ignored the problem. This is because the IRS can apply interest and penalties1 to any taxes you owe, which can compound quickly.

If you continue to ignore the debt, the IRS can take aggressive action to collect the money. The agency can seize your business accounts,2your inventory, your property, and can effectively shut down your operations to get the funds you owe. If you have a sole proprietorship or a partnership, the IRS may be able to go after your personal accounts and even your home to collect on business debts.

To avoid such collection tactics and to protect your business, it is important to face your tax debts and try to find a solution with the IRS. An experienced tax collection appeals attorney can help challenge the amount you owe, negotiate a lower settlement, set up and installment payment plan, and more to help you resolve the matter without threatening your small business.

Call a Highly Skilled Tax Relief Lawyer Today

If your small business owes taxes, the time to discuss your situation with an experienced lawyer is now. Please call Attorneys Tax Relief at (800) 261-6671 for assistance as soon as possible.

1https://www.irs.gov/taxtopics/tc653.html

2https://www.irs.gov/businesses/small-businesses-self-employed/levy

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