What You Can Do to Reduce Tax Penalties Even When the IRS Calls You a Thief

You may have heard unkind things said about you before—either by employees at the water cooler, a customer online, or a client to your face. In fact, most Tulsa business owners have had hurtful things said to them—it goes with the territory.

That Was Nothing Like This

While the things that you have heard before may have been unkind, you have never before been accused of being a thief. Now, however, that is what the Internal Revenue Service (IRS) is saying about you. Instead of recognizing the impossible situation you are in, or that you put your employees’ needs before your own, the IRS is accusing you of stealing because you did not pay your trust fund taxes on time.

Avoiding tax penalties may be very difficult because the IRS takes the nonpayment of trust fund taxes very seriously. At the same time, however, you should not just accept what the IRS is telling you to pay without further inquiry.

You may be able to reduce tax penalties in some cases by:

  • Responding in a timely and earnest manner to the IRS. Meet all your deadlines and show a real interest in resolving the current problem and preventing future problems.
  • Understanding your legal options. You may be able to lower your liability by agreeing to an alternative solution such as an offer in compromise.
  • Not doing this yourself. As a small business owner, you know that it can be difficult to be a jack of all trades. Accordingly, you might benefit from hiring a professional to help you resolve your tax problems.

Take Their Words to Heart, but Don’t Believe Them

Know that the IRS is serious about what it says, but know also that you are a good person who did his best in a very difficult situation. We know that about our clients and we are committed to helping them through situations such as these. Please browse our case results and testimonial pages to learn more about how we have successfully helped Oklahoma business owners like you and please contact us directly for more information about your specific situation.

Travis Watkins
Senior Tax Attorney