Los Angeles, CA (PRWEB) September 15, 2012
It's no surprise that this broad-ranging industry is struggling with taxes. With obstacles such as retain age, insurance requirements, work dissatisfaction, injury resulting in lawsuit, theft of supplies and even the current issue of having to compete with low bids; there are various reasons that those in the construction industry could get behind. Sherri Gastulum, CEO of Platinum Tax Defenders a tax resolution company, says “some of these taxpayers do not file a return if they know there will be money due. They hope that the taxing authority will not find out that they owe, when in actuality, they get into much more trouble by not filing. Ultimately, they will need to pay penalties and interest for failure to file the return in addition to the original tax owed”.
While researching their construction industry clients, Platinum Tax Defenders a leading tax resolution company discovered that most self-employed sub-contractors or contractors simply did not understand their tax filing and paying requirements when their hobby became a business. These start up business owners found themselves in need of employees to complete the job but, unfortunately, were not aware of the tax obligations that go with having employees. Furthermore, many of these self-employed men and women paid their employees in cash and did not report this information and facts on their tax returns. Many do not even report the income they receive as that also comes in the form of cash. While a good many of the mistakes described above are completely commonplace, the taxing authorities typically have little sympathy and require immediate payment for any back-taxes once they calculate how much is due.
For a Tax Attorney that will negotiate in their clients best interest. Contact Platinum Tax Defenders for a free consultation before IRS takes an action against your assets (800)-991-3242 or request more information at Platinum Tax Defenders website http://www.tax-resolution.me/