Surviving the fund Recovery Penalty
Trust fund taxes are the employee's withholding taxes and their share of the FICA and Medicare tax on wages that employers withhold and remit to the govt every pay period. These taxes represent usually about 65% of the entire payroll liabilities that employers pay to the govt each pay period, reporting the taxes on the shape 941 quarterly payroll report. The Failing Business Trap Businesses fail when the cash flows of the business operations are insufficient to satisfy the present liabilities that require to be paid monthly . When this trend continues over time, unpaid liabilities compile and expenses are cut in desperation to stay things running. Liabilities that are vital to keeping the business running like the electrical bill and wages are paid, but taxes and other government bills are usually not paid. After all, if you do not pay your bill , the facility are going to be shut off and you'll be out of business subsequent day. Same with wages, your skilled workforce wi