Corporation Income Tax

Tax Attorneys in Oakland County

In many regards, the Internal Revenue Service (IRS) can view a corporation as an individual. The agency has an interest in the income that a corporation collects or earns, specifically in regards to the state and federal taxes that can be imposed against corporation income. If you are an executive or president at a corporation, you must be aware of the potential tax issues that can arise due to corporation income tax.

Payroll Tax Liability

When federal income and payroll taxes are withheld from your paycheck (this withheld money is known 'trust fund tax'), corporate officers at your company are required by law to send that money to the IRS. Failure to do so could make that individual/individuals liable for the total amount withheld, and potentially, other penalties.

Sometimes corporate officers will delegate this task to another employee. However, the courts have determined that an officer in charge of handling payroll taxes will still be held responsible for how that withheld income is handled, even if he or she handed payroll tax duties over to a different employee. Another party besides the officer may be held liable for the payroll tax if it can be demonstrated that that party was responsible for and capable of making the payments, but willingly and knowingly withheld the money anyway. However, the IRS will focus their attention on the corporate officer whose duty it was to ensure that these infractions do not occur.

Tax Resolve can advocate for you and your company if you are the subject of an IRS Trust Fund Investigation. With our extensive knowledge of tax law and experience with these complicated scenarios, we can help untangle the mess and rescue you and your business from harsh penalties.

Put Certified Public Accountants in Your Corner

Just as the IRS has much on the line when considering your income taxes, of course, so does your corporation. In turn, everyone employed by your corporation could be negatively affected by a discrepancy that brings about federal penalties, such as fines, sanctions, or the dismantling of your company. To protect yourself, your name, your corporation, and all parties involved with it, let our Certified Public Accountants (CPA) help you with your case.

Dealing with the IRS can be intimidating due to the agency’s power, size, and resources. Make things simpler and gain much needed confidence by retaining the services of a CPA you can trust. Visit our testimonials today to see some 5-star reviews from past clients that have leaned on our Oakland County tax attorneys and found an amicable solution to their corporate and individual income tax issues.

Your Corporation is Your Livelihood – Protect It with Our Help!

Corporation income tax disputes can be sources of significant hardship if handled incorrectly. You need to be certain that the help you retain for your case is capable of overcoming any challenge. At Tax Resolve, we are committed to upholding your corporation through our efforts and seeking only the smartest solutions to state or federal tax troubles, tax liability, tax debt, and more.