Is your last payment of payroll taxes in the hands of the IRS or in the hands of an embezzler?
How would you know?
There’s one easy way to know: simply use the IRS’s online service to check. But that’s a bit of trouble, so why bother?
Because if the money has been stolen, you (1) are out the original money and (2) now have to pay a duplicate amount to the IRS. If you have to pay twice, you are going to be furious. Don’t let this happen.
Here’s a totally underutilized trick to checking on your payroll monies: simply log in to your IRS tax account to see whether the IRS got the payroll tax money.
That’s right, the IRS makes your tax payments available to you online with its Electronic Federal Tax Payment System (EFTPS). You can log in to the EFTPS system and see whether the IRS has your payroll money.
I am happy to review with you this system and others that can protect you. If you would like my help.
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Spencer Accounting Group, LLC does not provide investment, tax, legal, or retirement advice or recommendations in these blogs. The information presented here is not specific to any individual's personal circumstances.
Keana Spencer is an Accountant, Entrepreneur, and Educator to her clients, with a strong passion. Keana has over 10 years of experience and through her practice, she is a source of knowledge and strategies to her clients.