Let’s say you paid your payroll taxes.
Is there any way you would have to pay those same payroll taxes twice?
Yes, and this sad situation happens to unsuspecting business owners every day.
Is there any way this could get even worse? Yes. On top of paying the same taxes twice, you could have to pay a Trust Fund Recovery Assessment (known as the “100 percent penalty”) under tax code Section 6672.
In this article, we first tell you the true story of a taxpayer who got mugged by his payroll taxes because he had to pay them twice.
Then, we’ll explain precisely how you can spend just a few minutes every once in a while to make sure that you never suffer this double payment of payroll taxes. ... Log in to view full article.