Most businesses choose to negotiate an affordable payment plan to satisfy delinquent payroll taxes. The ideal payment plan allows businesses to pay back taxes and have enough money each month to continue operating and keep current on future payroll taxes. It is done all the time by attorneys. The negotiations could take up to 10 years from the date of the start of negotiations. The business must get current with the new payrolls.
If the IRS negotiates "all the time" as you say, then why has this not happened HERE with AAPT?
If AAPT had a deal with the IRS, they would SURELY pump that news in a PR.
No deal with the IRS.
My brother is a tax attorney and that is all he does negotiate a settlement on back and delinquent payroll, personal and corporate taxes. I asked him and he said all taxes can be negotiated with the IRS as long as the person or corporation is current on new taxes and they have not done tax negotiation in the past, they prove that they have no funds and the business will fail and have no assets. So max is correct
LOL, so if they can prove they have no funds, no assets, and the business will fail they can negotiate a settlement........sounds like a great company to invest in........
with Nutrabars and Pawtizer on the shelves how could they convince the IRS that they are going to fail?
LOL yeah most businesses choose to break the law and not pay required payroll taxes. nice try but this isn't income tax where there could be loss carry forwards or back or a whole range of options
This depends on the circumstances.
The circumstances here however, are not very good.
Why? Well, because the back taxes include PERSONAL federal withholding of Barry/Lisa. So, Barry/Lisa request a "deal" on the business side, AND a deal on the personal side too?
They would need TWO deals. Since the payment plan on the AAPT business side DIRECTLY affects the personal side of the SAME two people drawing the LARGE salary, I doubt if any deal with the IRS is agreed upon.
You don't have you cake, and eat it too.
Insert padlock on warehouse door?
Think about it.
You can negotiate a settlement with the IRS to settle back taxes by filing an application for an Offer in Compromise. The IRS will accept your application if you meet certain financial conditions indicating hardship or insufficient assets to fully pay your back taxes. Settlements with the IRS, however, require that you remain compliant with future tax obligations for the next five years; this means that you must file future returns on time and pay future balances in full.
actually when it involves payroll taxes BK won't matter and Barry and LIsa are personally liable, and thier personal assets are also fair game including the ones that would normally be exempt in a BK filing