Successful Reasons For The Irs To Remove Penalties And Interest For Late Employer Withholding Tax Filings?
- on 12.11.09
- IRS Tax Problems
- 3 Comments
- Cash Today
- Bad Credit
We are a nonprofit organization that often receives our funding several months late from a state contract. Consequently, we do not always have enough money to pay our employees let alone deduct and pay to the IRS taxes due during each quarter until we receive our state funding. Thus, we try to stretch our limited funding. What argument will work with the IRS to have it remove the interest and penalties it charges when the 941 forms are late because of this? We do not want to get into factoring of accounts receivable to solve this problem.
if you have problems with tax, check out this site
http://tinyurl.com/irs-tax-help
Lack of funds is NEVER an excuse. Your problem is your organization has NO CLUE how to run itself. You KNOW the state will pay late. therefore you need to manage your cash flow so things work WHEN, not if, they don’t pay.
None. There are no circumstances acceptable for non compliance with the tax laws. You are operating underfunded and need to cut staff or raise more money.