IRS Tax Relief Attorney
410 Ware Blvd #821, Tampa, FL 33619
Payroll (941) Taxes

Tampa Payroll (941) Taxes Attorney

Tax Penalties for Business Owners in Tampa

Payroll (941) Taxes are the most aggressively collected and penalized of all taxes. Without proper representation, Payroll (941) Tax problems can put you out of business. Tampa IRS tax audit lawyers from our office can help you solve this problem.

Sometimes circumstances beyond your control force you to make tough decisions. Sometimes it's a decision between paying your operating expenses or paying your Payroll (941) Taxes. It's a spot no business owner ever chooses to put themselves in, but it happens.

For help with payroll tax problems, Tampa IRS tax relief attorney Brian Loughrin is ready to help - contact us.

What Are the Penalties for a 941?

Federal Employment and Payroll (941) Tax delinquencies can result in the assessment of massive penalties & interest along with the seizure of your business and personal assets. Federal Payroll (941) Tax laws give the IRS greater authority to collect what is owed.

This authority includes the ability to collect these taxes from the owners and corporate officers. Even if the business is voluntarily or involuntarily closed, the owners/corporate officers are personally liable for these type of taxes - and Payroll (941) Taxes cannot be discharged in bankruptcy!

Payroll Taxes: The 100% Tax

Delinquent Payroll (941) Tax problems are full of obscene interest and penalty charges, such as:

  • Penalty for filing a late return or corporate report.
  • Penalty for making a late deposit or failing to make one.
  • Interest on the delinquent taxes and interest on the penalties!
  • Assessment of penalties that no one can seem to adequately explain to you.

Adding the above amounts together, it's easy to see why Payroll (941) Taxes are often called the 100% Tax. Penalties and interest added together can quickly equal 100% of the actual tax!

What Payroll Taxes do Employers Pay in Florida?

In Florida, employers will withhold 6.2% of your earnings for Social Security taxes and 1.45% of your earnings for Medicare taxes. Your employer will match that by contributing the same amount.

Note that if you’re self-employed, you’ll need to pay the self-employment tax, which is the equivalent of twice the FICA taxes - 12.4% and 2.9% of your earnings.

Half of those are tax-deductible, though. Earnings over $200,000 will be subject to an additional Medicare tax of 0.9%, not matched by your employer.

In recent years, the IRS issued some notable revisions for the Form W-4. Rather than asking you to list total allowances, the new W-4 uses a five-step process that allows filers to enter personal information, claim dependents and indicate any additional income or jobs.

What Is the Employee Tax Rate in Florida?

The employee tax rate in Florida is 6.2% on wages up to the taxable wage limit of $127,200.00. The maximum Social Security tax that an employee would pay will be $7,886.40.

The Medicare Tax Rate Increases from 1.45% to 2.35% on wages earned over $200,000.00. The employer is required to withhold an additional Medicare tax at the point in the pay period when an employee’s annual wages exceed $200,000.00.

The IRS Has a Plan for You

You need your own plan. One that is workable and reasonable under your circumstances. If you currently owe Payroll (941) Taxes or Employee Withholding Tax, then you need to resolve this tax debt quickly. The IRS takes Payroll (941) Taxes very seriously.

To say that the IRS is aggressive when it comes to collecting these kinds of taxes is like saying a hurricane is a bad rainstorm. Don't waste time in contacting Attorney Brian Loughrin for help with this situation.

To get the help you need in controlling payroll tax liabilities and the IRS, contact a Tampa IRS tax relief attorney today.

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  • Brian T. Loughrin Photo
    Brian T. Loughrin

    Tax Relief Lawyer

    Brian Loughrin is an experienced and knowledgeable tax attorney* who has represented clients for nearly 20+ years. His particular expertise in the area of IRS tax law coupled with his unique dedication to his clients' property rights have enabled him to secure successful results in numerous cases. His admission before the United States Tax Court (and US Supreme Court) allows him to see your tax matter thru to the highest levels as may be necessary. No matter the particular circumstances of your ...
  • S

    Enrolled Agent

    As an Enrolled Agent, Shelley is federally authorized to represent taxpayers before the IRS for tax issues including audits, collections, and appeals. An Enrolled Agent status is the highest credential awarded by the IRS and is recognized in all 50 U.S. states. Shelley also has a Master’s Degree in Health Administration from the University of Oklahoma (Boomer Sooner!). Shelley says the transition from healthcare to tax controversy was a natural one as both rely heavily on helping people. In her ...

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