PFGTAX complaints.
PFGTAX aka: Phoenix Financial Group is the website for Phoenix Financial Group. PFGTAX is located at 520 Zang St in Broomfield, Colorado 80021. Their phone number is (888) 572-2179.
PFGTAX complaints with the IRS collection system are numerous. PFGTAX complaints that the hold times for the IRS' automated service are entirely too long. It should not take hours to get someone to assist you in resolving your back tax debt.
PFGTAX complaints that the penalties and interest on past due taxes are to high. Penalties are used by the IRS as a deterrent. However, most people in my opinion do not pay their taxes on time due to a financial hardship. The IRS is then punishing someone with enormous penalties that is already in financial distress. Penalties are particularly high for 941 tax debt. Three different types of penalties can accrue for this type of tax debt, Late filing, Federal Tax Deposit and Failure to Pay. The IRS can then charge interest on all of it.
A Late Filing penalty is charged for filing a tax return late. As a taxpayer it is always better to file a return even if you can't pay it on time. This will eliminate this penalty. The penalty accrues a 5% per month that a return is late maxing out at 25%.
Federal Tax Deposit penalties are charged when a Federal Tax Deposit is not made on time. In regards to a 941 tax, Federal Tax Deposits are for withholding, social security and medicare. They can be made at EFTPS.com. These penalties start at 2% but increase quickly to 10% after several days. Once the IRS sends a notice about the delinquency and it is not paid then the penalty goes up to 15%.
Failure to Pay penalties are charged for not paying tax that is due. It accuses at 1/2% per month. These penalties add up considerably over time.
PFGTAX complaints that IRS enforcement action can be overly intrusive. Fortunately our Enrolled Agents and Tax Attorneys know how to protect client's assets.
Wednesday, December 31, 2014
Wednesday, November 12, 2014
I'm behind with my 941s! Help!!
Falling behind with 941 Employer Withholding Taxes can be scary. The IRS has lots of power to collect past due taxes particularly when it comes to 941 taxes.
The taxes associated with 941s are deemed to be "Trust Fund" Taxes. This means that a business is supposed to hold the taxes in Trust for the Federal Government. It also means that the IRS can pierce the corporate veil and hold the owners, officers, and check signers personally responsible for the taxes.
The "Trust Fund" portion of the 941 tax debt is made up of the employee's portion of Social Security and Medicare and the employee's withholding for Income Tax. The Trust Fund does not include penalties and interest nor the employer's contribution to Social Security and Medicare.
An investigation needs to be conducted before the IRS can hold someone personally responsible for the Trust Fund portion of the 941 taxes. The IRS will look at anyone who has the authority to sign checks. They will ask for canceled checks and a copy of the bank signature card. They will also due an interview with anyone that has the authority to sign checks and any owner or officer. This interview is a person's chance to exonerate themselves from responsibility.
There are options in this situation. The Tax Attorneys and Enrolled Agents at Phoenix Financial Group can assist you in dealing with your 941 tax problems including how to get a favorable result when dealing with the Trust Fund. Don't compound your problems by not getting professional help. Call (888) 572-2179 for a free consultation or send an email to info@pfgtax.com.
The longer you wait the more likely the IRS is to proceed with enforced collection action like wage garnishments, bank levies, liens and seizures. PFGTAX can help you prevent these types of actions and get back on your feet.
941 taxes need to be paid by going to www.eftps.com. You will need to schedule a payment a day in advance. If you would rather have a payroll service, our client's get a discount with ADP.
(888) 572-1279 is the number to call for professional tax representation. Check us out on at the BBB where we have an A+ Rating.
The taxes associated with 941s are deemed to be "Trust Fund" Taxes. This means that a business is supposed to hold the taxes in Trust for the Federal Government. It also means that the IRS can pierce the corporate veil and hold the owners, officers, and check signers personally responsible for the taxes.
The "Trust Fund" portion of the 941 tax debt is made up of the employee's portion of Social Security and Medicare and the employee's withholding for Income Tax. The Trust Fund does not include penalties and interest nor the employer's contribution to Social Security and Medicare.
An investigation needs to be conducted before the IRS can hold someone personally responsible for the Trust Fund portion of the 941 taxes. The IRS will look at anyone who has the authority to sign checks. They will ask for canceled checks and a copy of the bank signature card. They will also due an interview with anyone that has the authority to sign checks and any owner or officer. This interview is a person's chance to exonerate themselves from responsibility.
There are options in this situation. The Tax Attorneys and Enrolled Agents at Phoenix Financial Group can assist you in dealing with your 941 tax problems including how to get a favorable result when dealing with the Trust Fund. Don't compound your problems by not getting professional help. Call (888) 572-2179 for a free consultation or send an email to info@pfgtax.com.
The longer you wait the more likely the IRS is to proceed with enforced collection action like wage garnishments, bank levies, liens and seizures. PFGTAX can help you prevent these types of actions and get back on your feet.
941 taxes need to be paid by going to www.eftps.com. You will need to schedule a payment a day in advance. If you would rather have a payroll service, our client's get a discount with ADP.
(888) 572-1279 is the number to call for professional tax representation. Check us out on at the BBB where we have an A+ Rating.
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