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AFTER LOCKDOWN: LOOMING COVID-19 PAYROLL TAX DEBT CRISIS



Topic: Tax



The Small Business Administration estimates that Millions of small businesses have shut down during the pandemic while millions more remain open but in dire straits. Payroll tax debt is a top priority for IRS collections and enforcement action. Based on the patterns seen during the recession a little over a decade ago both the IRS and the resolution industry expect an increase in these cases starting in 2021.


Learning Objectives:

  • Identify the stresses businesses face that cause the accrual of payroll debt and how to work with these taxpayers.
  • Demonstrate a general framework of options available and what to expect from the IRS.
  • Review of special considerations for closed businesses vs. open businesses.