The problem of unpaid payroll taxes and the trust fund recovery penalty happens everywhere, even in growing cities like Allentown in Pennsylvania. Like Irvine and other growing cities that the Tax Resolution Institute has helped in the past, Allentown has been experiencing a challenging mix of economic growth and the subsequent challenges. Helping the process, the Allentown Economic Development Corporation operates the Bridgeworks, a business incubator that has helped to fight the recession. Such civic support in Allentown helps attract and support young commercial and manufacturing businesses.
Unpaid Payroll Taxes In Allentown
When a young commercial business in Allentown found themselves with a serious problem of unpaid payroll taxes because deposits to the IRS were missed, TRI came in to make sure the doors stayed open. We will not go into any more detail about the business to protect a client’s anonymity as we always do. It is too dangerous in a small and vibrant business community like Allentown to go even discuss the nature of the business and what it produces or what services it offers to its clients.
What is more important is that the company found itself with a serious financial crisis on account of unpaid payroll taxes. Hit by the recession as it continued to expand in the growing Allentown economy, the business owners “temporarily borrowed” from their employee’s payroll taxes in the trust fund in order to cover costs. But they failed to make a few deposits on time and set themselves up for terrible consequences. Rather than find an alternative financing solution, they began to cook a recipe that leads only to disaster.
The Best Tax Resolution Services In Pennsylvania
Luckily, the tax Resolution Institute offers the best in tax resolution services in Pennsylvania. When the IRS discovered the missing payments and the delinquent deposit dates, the company began to receive threatening notices. Luckily, they were smart enough not to hesitate. Learning about the Tax Resolution Institute on the web, they contacted us for a free consultation. Peter Stephan and the tax experts at TRI presented a plan that could put an end to the crisis. By paying off the debt and a portion of the fines, the penalties were waived and the crisis was over. The company escaped without being placed in a true financial crisis that could have closed their doors in Allentown. Rather than paying the full amount owed in fine and penalties, they paid less than 10% and breathed a sigh of tax relief when TRI provided them with an unpaid payroll tax resolution and an effective solution.
About Peter Y. Stephan
Peter Y. Stephan, executive director of the Tax Resolution Institute, has been helping people resolve large, complex payroll tax problems and personal income tax problems for over 25 years. Peter has written a book "The Ultimate Tax Resolution Guide" and speaks on Tax Resolution topics frequently.