941 payroll taxes, which include the trust fund (money withheld from your employees’ wages—including income tax, Social Security, and Medicare) cannot be negotiated with the IRS.
Nevertheless, Second Wind’s reorganization strategies coupled with our understanding of IRS standards can eliminate unpaid interest, corporate investment and penalties—leaving you with only the trust fund to repay. This can reduce the outstanding debt obligation by as much as 50% and allow for a long-term payback.
State withholding tax liabilities vary procedurally, but the core approach is based on fundamentals that remain true across the country. Straying from these principles can make your situation worse than had you done nothing. Second Wind will address these issues during the reorganization process, which can potentially mitigate your liability.
To learn more about how we can help resolve your tax liabilities, request your free consultation today.