Payroll tax relief is a service provided by Emerald Gain to assist business owners who have fallen behind on their payroll tax obligations. It is common for employers to face pressure from the IRS to pay when they fall behind on payroll taxes. However, ignoring the issue can lead to escalating penalties, fees, and potential asset levies. It’s important to address the owed taxes promptly.

To qualify for payroll tax relief, our services assess your specific circumstances and help you understand the best options available to resolve your tax debt. Whether the taxes went unpaid due to error, inability to pay, or business closure, we can guide you through the process.

The Tax Hardship Center provides payroll tax relief assistance to business owners facing delinquency in their payroll tax responsibilities. Whether the tax arrears arose from mistakes, financial constraints, or business closure, addressing the outstanding taxes remains crucial. Our payroll tax relief services evaluate your situation and guide you through the optimal strategies to resolve your tax debt.

As a business owner with employees, you have certain responsibilities when it comes to payroll taxes. This includes withholding Social Security, Medicare, and federal taxes from your employees’ wages. It is your duty to remit these withholdings or payroll taxes to the IRS. Additionally, there is an unemployment tax for each employee, which should be sent to the IRS on a quarterly basis.

It’s important to stay updated on the current payroll tax rates, as they can change from year to year. For 2022, the following rates apply:

• Social Security Taxes: Both the employer and employee contribute 6.2%, totaling 12.4%.
• Medicare Taxes: Both the employer and employee contribute 1.45%, totaling 2.9%.
• Self-Employment Taxes: Individuals running their own businesses can expect to pay a total rate between 15.3% and 12.4% for Social Security, and 2.9% for Medicare.