Missed Payroll Taxes and Cash Flow Problems

Failing to pay payroll taxes…we have seen it time and time again.  When companies are in tough financial positions, all too often the first thing to stop paying is the IRS.  Withheld payroll taxes, also known as trust fund taxes, have severe punishments including fines equal to the withheld amount.  Coveted Financial has helped clients increase cash flow and put procedures in place so that clients don’t feel the urge to skip payroll taxes.

We know that the last thing a business owner wants to do is admit to intentionally missing payroll taxes.  Many times it is months, or even years, before owners reach out to Coveted and openly discuss their situations. Coveted truly wants to help and is not here to pass judgment.  Believe us, we’ve seen worse…and remember, it is better to solve the problem sooner than later.  Late payments can eventually become legal problems, in addition to monetary ones.

The number one way we help clients make their tax payments, as well as all their other bill payments on time, is by providing them with great cash flow.  When you have a solid cash flow, you have a healthy business.  Coveted Financial’s primary goal is always to create a better cash flow.  We have helped clients throughout the Chicagoland area produce a positive cash flow in only a few short months.  We thrive on making our clients money and helping their business succeed.

If you have failed to make a payroll tax once, or are in the middle of a crisis, we urge you to contact us today.  Taking action immediately saves money on interest and late payment fines.  We can help you develop a payment plan and work together so you don’t miss future payments.  Plus, you’re not alone in the situation.  By enlisting Coveted Financial you have an expert on your side.

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