Seattle Employment Tax Lawyer
Washington Tax Law and the Seattle Minimum Wage Increase
As an employer, you already know you must pay payroll taxes to the IRS. These are calculated as a percentage of the wages you pay your staff. In April of 2015, Seattle raised the minimum wage to $15/hour. For many businesses, especially small business owners, this new law has many implications. Increased wages for your employees mean increased payroll taxes, which means decreased profits.
What happens if you simply can’t financially handle this increase in taxes? What are your options? Lana Kurilova Rich, PLLC is a tax attorney in Seattle who has been helping business owners like you for over a decade. She provides clear answers and options about your tax situation. Call her offices today for a consultation.
How a Washington Tax Attorney Can Help
If your business is having trouble covering its payroll taxes due a mandatory minimum wage increase or new overtime laws, don’t ignore the problem and hope it goes away. Your penalties for unpaid taxes include a compounded rate of interest, which will rapidly snowball if you don’t take care of it quickly. Help is available.
If you’re unable to pay any or all of your taxes, in most cases the IRS doesn’t want to prosecute you. If you’re not intentionally committing tax evasion, the IRS is typically willing to work out a mutually beneficial payment plan. Consulting with a Seattle business tax attorney is paramount, as dealing with the IRS can be tricky and you need a lawyer with experience to help you choose the right plan and ensure all the paperwork is filed correctly and on time.
Typically, your tax attorney can negotiate a payment schedule with the IRS. This entails setting up a schedule to pay back taxes you owe, based on the average sum being deposited. These are usually monthly or semi-weekly, based on the “look-back” period.
Remember, if you are having trouble paying your business taxes, it’s crucial to stay in touch with the IRS during the entire process. And consult with a tax attorney as soon as possible to protect your business and yourself.
Call Our Experienced Seattle Tax Attorneys Today
Washington State tax settlement lawyer Lana Kurilova Rich, PLLC brings many years of experience in tax controversies, and she explains your options in a language you can understand. Contact us today at (425) 289-0629 for an assessment of your situation. We are ready to help.
