Is your last payment of payroll taxes in the hands of the IRS or in the hands of an embezzler?
How would you know?
There’s one easy way to know: simply use the IRS’s online service to check. But that’s a bit of trouble, so why bother?
Because if the money has been stolen, you (1) are out the original money and (2) now have to pay a duplicate amount to the IRS. If you have to pay twice, you are going to be furious. Don’t let this happen.
Here’s a totally underutilized trick to checking on your payroll monies: simply log in to your IRS tax account to see whether the IRS got the payroll tax money.
That’s right, the IRS makes your tax payments available to you online with its Electronic Federal Tax Payment System (EFTPS). You can log in to the EFTPS system and see whether the IRS has your payroll money.
We are glad to review with you this system and others that can protect you. If you would like our assistance, please do not hesitate to reach out to your team at Luster Tax Consulting to work through this with you. Please use the following link to book your complimentary strategy call with your team at Luster Tax Consulting.