Tax Defense Network Explains How to Resolve Business Tax Debt

JACKSONVILLE, FL, July 19, 2012 (Press-News.org) Tax Defense Network understands that business tax debt can be an especially difficult pain for employers because apart from managing their own taxes, employers also need to pay the taxes of their employees. Tax Defense Network resolves business tax debt by working on behalf of companies to reach the best possible resolution.
Tax Defense Network explains that there are four kinds of taxes that every business, large or small, is legally required to pay to the IRS:

1. Income Tax - Employers must pay tax on the income of the company. This is done throughout the year, as income is earned. Those businesses that are not able to earn enough may pay estimated taxes based on their income. Failure to pay the income tax can result in the company having a tax debt.
2. Self- Employment Tax - This business tax must be paid by those who are self-employed, such as the owners of the business. Self-employed taxpayers pay estimated taxes because their income is not regulated.
3. Employment Tax - This business tax is paid by the employers on behalf of their employees. It includes Social Security, income tax, unemployment tax, and Medicare. This is also called payroll taxes.
4. Excise Tax - This tax is only applicable to those businesses that manufacture, sell or use specific products or services that are taxed.
Tax Defense Network states that the simplest method to pay back business tax debt is to pay the entire debt amount in a single payment. If a business cannot afford to do that, there are other IRS programs, such as an Installment Agreement, where businesses can pay the debt amount in fixed monthly installments.
"Failure to pay business tax on time may result in penalties and interest," a tax analyst at Tax Defense Network warns, "and the IRS takes business tax debt very seriously, so it is advisable for businesses to seek professional help if they are unable to pay their back taxes quickly."
Tax Defense Network sees over $3 million in business tax debt monthly, and has consulted on over $165 million in business tax debt since its inception. With nearly 40 percent of Tax Defense Network's clients being small businesses, the company has the experience to help owner-operators resolve their IRS back taxes successfully.

For more information on Tax Defense Network, and its debt relief services, please visit http://www.taxdefensenetwork.com/pr or call (888) 605-5657 for a free consultation. For other inquiries, contact kara.nuckles@taxdefensenetwork.com