IRS Debt Tips For Reducing Late Fees, Penalties and Interest

Taxpayers with outstanding IRS debt often underestimate the consequences that occur when taxes are not paid. The Internal Revenue Service assesses late fees, penalties and interest which can double or triple the amount owed. People who fail to submit annual returns or pay outstanding taxes can be charged with tax evasion. If you owe the government money, now is the time to take action.

Solutions are available to help clear IRS debt. Contrary to popular belief, the Internal Revenue Service is willing to help taxpayers establish a payment plan. In some cases, they will write-off a percentage of back taxes. Taxpayers who ignore IRS debt collection letters are setting their self up for financial fallout.

In order to resolve tax problems, taxpayers must contact the Internal Revenue Service taxpayer assistance call center. Business hours are 7 a.m. to 10 p.m., Monday through Friday. Individuals can obtain help by calling 1.800.829.1040. Business owners and self-employed taxpayers can call 1.800.829.4933.

Individuals owing less than $25,000 can establish an IRS debt repayment plan online. The first step involves submitting a Form 9465 taxpayer installment agreement request. Once approved, taxpayers can choose to pay in full, pay monthly installments, or obtain a short term extension which allows them to pay their tax debt in full within two to three months. Presently, the IRS charges taxpayers a user fee of $105 to establish a payment plan. This amount can be reduced to $52 by establishing a direct deposit account.

It is important to note the IRS will not grant payment plan approval unless all past due tax returns are filed. The IRS assesses a failure-to-file penalty of 5-percent each month the return is delinquent, with a maximum penalty of 25-percent.

Taxpayers who have filed returns but not paid back taxes incur a monthly failure-to-pay penalty of 1/2-percent until taxes are fully paid. Unpaid tax penalties are calculated from the original filing date.

Taxpayers carrying IRS debt of $10,000 or more might qualify for a partial payment installment agreement. This plan usually requires assistance from a tax attorney. All past due returns must be filed before the IRS will enter into an installment plan. Taxpayers are required to submit monthly payments until the agreement is fulfilled and the remaining tax debt is forgiven.

Taxpayers able to pay a reasonable amount of back taxes might qualify for an Offer in Compromise agreement. Using this tax relief option, the IRS agrees to accept less than the full amount of outstanding taxes owed.

Offer in compromise is typically used as a last resort. The IRS only accepts this arrangement if they feel there is little chance of collecting the full amount owed. When offer in compromise is used taxpayers allow the IRS to retain future tax refunds which will be credited to the taxpayer's account. Individuals must submit monthly installment payments until the contractual agreement is fulfilled.

Homeowners who lost their home to foreclosure may qualify for tax relief under the Mortgage Forgiveness Debt Relief Act. Debt forgiven through foreclosure or debt reduced through mortgage refinance of a principal residence may qualify.

Taxpayers who file for personal or business bankruptcy must adhere to 908 bankruptcy tax codes. Cancelled debt through bankruptcy is a complicated issue which is best handled by a certified public accountant or tax attorney.

While IRS debt can be overwhelming, solutions exist to resolve the problem. Tax debt payment options and answers to frequently asked tax questions can be found at IRS.gov.

Medical Professionals Get Tax Benefits Under Affordable Care Act

The federal government has been raising taxes in subtle ways. The states have given up on being subtle and are just raising them right and left to cover budget deficits. Nobody seems to be escaping this new tax trend, but that isn't true. Medical professionals can get tax benefits under the new Affordable Care Act if they qualify.

The health care system in this country is a mess to say the least. If you've ever dealt with your health insurance company on a claim, you will agree. Regardless, one of the problems that has arisen is a lack of primary care physicians and staff. Many doctors are training to be specialists, positions that pay far better. This has led to a well documented shortage of primary care physicians.

The problem is particularly bad in rural or underserviced areas. The question is how do you get young doctors to go to these areas when they have other choices? Ah, you use a carrot. Specifically, you provide tax benefits that entice them to make the move for financial reasons.

The new carrot comes as a part of the Affordable Care Act. Under the new law, medical professionals that provide service in "underserved" areas under state programs are going to love tax time. Why? They will be able to get sizable refunds on what they've already paid on 2009 taxes as well as tax cut going forward.

In truth, the program is both good and a perfect example of the maddening nature of the Internal Revenue Code. How so? It has to do with how income is determined. The doctors in the state programs have long received student loan repayment relief for their efforts. Ostensibly, this means part of their loans have been forgiven. Alas, the IRS then considered the forgiven debt to be income for tax purposes. So the young doctors ended up paying taxes on the forgiven student loan debt. Do you have a headache yet?

The Affordable Care Act basically gets rid of this mess. It changes the tax code so that the doctors do not have to pay income tax on the forgiven loan amounts. Hey, that almost makes sense!

IRS Tax Relief News - Tax Case Convictions on the Rise For Americans With IRS Problems

With IRS enforcement on the rise - more people than ever will need expert and qualified IRS tax relief. If you've put yourself in a situation for which you could be prosecuted on tax charges, there's something you should know: Your chances of convictions are high.

There are not many situations scarier than being in tax trouble. Whether you're worried about the tax man knocking at the door or staring down at the pages of a tax evasion indictment, there are few legal situations worse in American life.

Getting in trouble with the Internal Revenue Service can be a life-altering experience. That is an indisputable fact. Even more troubling, data suggests you're more likely to be indicted and convicted on tax charges today than you were five years ago.

In fact, available data shows the Obama administration is just as aggressive in tax enforcement as the Bush administration was.

Using data from the Internal Revenue Service and the Department of Justice, the Transactional Records Access Clearinghouse (TRAC) at Syracuse University reviewed IRS referral and DOJ conviction numbers for tax cases in fiscal-year 2009 -- Obama's first year in office.

What TRAC found should be eyebrow-lifting to those who suspected the Obama administration might go easier on tax cheats.

Tax case convictions in fiscal-year 2009 were on par with those in fiscal-year 2008, the Bush administration's last year in office, and in fact there were 10 percent more convictions in fiscal-year 2009 than there were just five years ago.

The most frequently reported charges were "fraud and false statements" and "attempt to evade or defeat tax."

The takeaway for you, the taxpayer, should be obvious: Despite the alterations in policy and action that often accompany a new government, the Obama administration has chosen not to chain what has been an increasingly aggressive IRS over the previous five years. Those of you with lingering back taxes should not hesitate to seek out quick and reliable tax relief from a tax attorney or Certified Tax Resolution Specialist.

What's more, the odds are great that tomorrow's enforcement will become even more aggressive.

The primary reason: money.

For fiscal-year 2010, Congress increased the IRS's enforcement budget to a record $5.5 billion -- meaning more agents for more audits, more investigations, and ultimately more of a reason to obtain IRS tax relief.

Of course, that extra money in the enforcement budget comes on top of the IRS's recent agreements with credit card companies and Swiss banks to open up the account information for U.S. taxpayers who might be stashing cash in offshore bank accounts.

So why bet against the government when the stakes include your freedom and livelihood?

There are plenty of examples of people who did bet against the government. They've lost.

Just last month, a Florida man received a 51-month prison sentence for tax evasion, while across the country in California a bookkeeper received a 33-month sentence for wire fraud and evasion

Scared? Now might be a good time to call me for some life saving IRS tax relief.

Taxpayers Must Beware of Tax Relief Firms That Misrepresent Their Ability to Resolve IRS Problems

As the U.S. is still in the process of recovery from the economic downturn, taxpayers are more vulnerable to IRS problems and tax debt. To add to these troubles, an extensive list of so-called tax resolution companies are springing up, many of them misrepresenting their ability to offer tax help by overstating their staff's professional skills, their ability to reduce IRS debt and offering 100% tax relief guarantees.

This month, another well-known tax relief firm is charged with unlawful conduct and misrepresentation. Houston-based TaxMasters, known for its national advertising campaigns is being investigated by the Texas Attorney General on counts of over 1,000 customer complaints and numerous violations of the Texas Deceptive Trade Practices Act. Accusations include failing to disclose details of service agreements, failure to contact and negotiate with the IRS on the client's behalf and failing to stop bank account garnishments. TaxMasters is also accused of placing its customers on misleading installment payment plans, where the customer was made to believe they were receiving IRS tax help; however, their case was only looked at once paid in full. Clients incurred interest and additional fees for failing to meet certain deadlines, which would have been avoided if their case was handled when promised. Read the news article about TaxMasters: "Tax Resolution" company at center of state investigation.

Don't make yourself a victim in these difficult and confusing economic times. There are many more options for tax-burdened taxpayers than ever before, but the key is in choosing a tax relief company that is ethical in its approach. This includes clearly stating the service you will be receiving as well as guidance throughout the process. It is essential to choose a tax relief professional that will be there throughout the tax relief process and be responsible and responsive to your needs, otherwise you could find yourself with extra fees for services not rendered in addition to your original tax debt, additional interest and penalties. Before choosing to seek out professional tax help, do your research. Here are some questions to ask before hiring a tax attorney or Certified Tax Resolution Specialist.

Savvy taxpayers in need of tax relief should know:

When to Get Out: If you are dealing with a tax resolution firm that is more concerned about when and how quickly you can pay them instead of how to best provide you with tax help, you need to walk out now.

At TRS, we conduct a thorough in-depth interview to see if the clients qualify for an IRS tax settlement. We offer transparency and offer realistic expectations for our clients in solving their individual tax problems. This ethical and honest approach to tax resolution has helped our team achieve a 99.7% client satisfaction rate in over 9,000 tax relief cases and an IRS tax settlement rate of $0.11 on the dollar. We have a success rate that's second to none - having saved 52 million dollars in back taxes and IRS penalties since 1998.

Additional Fees? A popular tactic used by many firms in grabbing clients is neglecting to mention additional fees that may occur during the tax resolution process. For example, the Offer in Compromise can take up to 6-7 months and lead to the appellate court, which results in representation fees. At TRS we are upfront about our fees. At the client's initial Free Confidential Consultation, we let them know exactly how much they will have to pay in total to achieve their tax resolution. We quote a fixed fee for our tax resolution services and will not allow a client to retain our services unless the taxpayer is a legitimate candidate for tax relief.

6 Tax Tips When Filing Income Taxes

Before the March 1st RRSP deadline, tax payers are asking themselves important tax related questions; Should I put my money in a Tax Free Savings Account (TFSA) or in my RRSP?, When is the right time to move from a province to province?, Should I file my taxes even though I have not made much money in the 2009 tax year?, Can I get any tax deductions for my medical costs in the 2009 tax year?, Can I claim my elderly parents or grandparents as my dependents and get tax deductions in the 2009 tax year?, Can I use my children's university tuition credits to reduce my tax obligations?

Should I put my money in a Tax Free Savings Account (TFSA) or in my Registered Retirement Savings Plan (RRSP)?

If you can invest the money you should use both tax vehicles, but if you can afford just one you must consider the effects on your finances and impacts on overall tax claim of each one separately. RRSP is suppose to give you a tax shelter at the time of tax filing in any given tax year, while Tax Free Savings Accounts uses money after taxes, which once deposited in a TFSA, accumulate interest which at the time of withdrawal is tax free. If you find a financial vehicle within the TFSA account that yields you a lot of interest, the money made from those investments are 100% yours at the withdrawal time. So, if you think that you will be in a lower tax bracket at the time of retirement, you should invest more in an RRSP, because you will get a greater tax refund at the time of tax filing. However, remember once the RRSP is withdrawn it will be taxed in the future. If you have low income in the future, you will get a smaller tax burden from the RRSP withdrawal. In the second case scenario, if you think you will be making more money in the future or at the retirement age, TFSA is the better option because as mentioned before TFSA accounts and money accumulated in those accounts are not subject to taxation at the time of withdrawing money.

I am moving to another province from my current province of residence.

When is a good time to move? The simplest answer to this question is that you are subject to the tax rates of the province in which you reside on DECEMBER 31, of any calendar year. You should check provincial tax rates to get an idea which provinces have higher tax rates and which ones have lower. Obviously, if you are moving to a province with higher tax rates it is more beneficial to move in the New Year so that you can still qualify for previous tax year at lower tax rates. If the scenario is reverse, pack your bags and get a permanent address in your new province, quick and before the year is out.

What if I didn't make too much money in the 2009 tax year?

In this case scenario, it's recommended to file your taxes even if you had no income or taxes owning. For students, if you are in RAP - Repayment Assistance Program, the government might ask you as prove of income for your Notice of Assessment which is received after you file your taxes. If you haven't filed your taxes you will have no Notice of Assessment, hence no prove of income and your RAP application might be declined. In addition, filing your taxes will determine if you are eligible for such government programs as the Canada Child Tax Benefit, a GST/HST credit or other wide variety of tax rebates available in the 2009 tax year. As well, filing reports will increase your future RRSP contribution room.

Can I get tax benefit if I spent a lot of money on medical costs?

In order to claim your medical expenses in the 2009 tax year, these medical expenses must exceed 3% of your NET INCOME. You can benefit from tax breaks, more likely, if you claim all medical expenses for you, your spouse or common-law partner and your dependents who are under 18 years of age on a SINGLE TAX RETURN. As well you can claim travel costs, meals and vehicle operating expenses, but only if you have traveled more than 40 km to get to the medical facility for treatment. If you traveled more than 80km to get to the treatment you can file additional expenses for accommodations such as hotel, motel etc...It's usually better to claim medical expenses on an income tax return of a spouse with lower income in 2009 tax year.

Can my elderly parents be considered my dependents?

Remember, dependents are not only your children under the age of 18; they can be your parents or grandparents too, provided that they are mentally or physically infirm dependents. Therefore, you are taking care of them, they live with you and have a net income of less than $18,081- you are eligible to claim all or part of the CAREGIVER AMOUNT.

Can I claim tuition credits from my children who are enrolled at a college or university?

Yes, often students have little or no income, so that they can reduce their income taxes to zero with just their personal not taxable amount and then either carry forward their tuition credits for future tax years or transfer the credits to parents or grandparents, spouse or common-law partner, or even your spouse's or common-law partner's parent or grandparent. The student must file their income tax first and claim the tuition credits and then any amount left over after the students' tax is reduced to zero can be transferred to you.

What Are IRS Tax Liens and Levy? Detailed Analysis

The US residents who are facing debt problems might hear two terms frequently which are lien and levy. Some people think that these terms have the same meaning however, they are completely two different terms. After reading this article you will be easily able to differentiate between these two terms. First of all we will discuss IRS Tax Liens:

1- IRS Tax Liens

Lien basically means that IRS will cease your property if you are not paying taxes. The property will remain in their custody until you pay your all outstanding tax debts. IRS can file the lien of your property anytime they want. In simple words you can say that lien is a type of security in case you never make the payment to IRS.

2- IRS Tax Levy

Levy is the next step of Lien. When IRS feels that the debts from you are irrecoverable or you have crossed the deadline of paying taxes then the property which was previously ceased (Lien) will be sold and IRS will keep the money. This money is actually considered as a payment of debt from your side.

Although IRS reaches at the Levy level rarely but if you owe good amount of money to them then chances are great that you might become the victim. It is better to pay off your taxes otherwise IRS always keeps the backup to recover its money from you. Most of the people in the US are able to settle their debts through attorneys and free consultations at the stage of Levy but there is still good number of people who faces the Levy stage. So hire an attorney or get some other help to remove your tax debt and live a comfortable life.

Best Way to Get Rid of IRS Debt - Hire Tax Debt Attorney

No one can help you to get rid of huge taxes debt except for a professional tax debt attorney. In almost every state of the US there are attorneys available. Now the question is that how these attorneys help you? this article will tell you the basic functions of a tax debt attorney so you can get an idea that for what things you are going to pay your attorney.

1- He/She can talk on your behalf

A good tax debt attorney can talk on your behalf with the IRS and explain your situation. He/She can ask IRS to give you some more time for payment or present your financial position to the IRS so that it can reduce your debt.

2- He/She can reduce your tax liability

The professional attorney not only contacts IRS and request them to reduce or remove your taxes debt but also contacts your creditors and explain the situation you are facing. Many of your creditors will happily forgive the money you owe them. Like this you will be owing a very small amount of money to the IRS which can be paid in few months and after that you will be a free man.

Tax debt attorney will charge you handsome amount of money but that money is nothing as compared to what you are going to get through him/her. Instead of looking here and there for some cheap debt helps, always go for the best attorney and follow whatever he/she says.

How to Get IRS Tax Relief From Back Taxes Or Unfiled Tax Returns

You can run, but you can't hide from the IRS. In 2008, the IRS collected $56.4 billion, $7.7 billion more than in 2006. And Congress has sent another $12.2 billion to the IRS this year resulting in a record $5.5 billion budget and hundreds of new IRS agents who have been hired to crack down on back taxes and delinquent tax returns.

With the record federal deficit, Americans can expect more tax audits and increasingly aggressive collection tactics by the IRS. But the good news is the sooner you take care of your delinquent taxes, the less penalties and interest you'll owe. If you have unfiled tax returns or owe IRS back taxes, it's important to figure out what the best IRS tax relief option is for your particular situation. It is also important to understand the process for resolving your IRS tax debt so you have realistic expectations and know which tax resolution strategies you can benefit from.

Tax relief from back taxes or unfiled tax returns tip #1: Know that there is a solution to every problem. If you have unfiled tax returns it is always better to file them - whether they're a couple days or a couple years late - than to not file them at all. Filing any tax returns that are due as soon as possible can help you resolve IRS back taxes and reduce additional interest and penalties. The longer you put off dealing with past due taxes, the more serious your IRS problems will be. Failing to file tax returns makes you vulnerable to potential IRS collection tactics, such as a levy on your wages or bank account, and may be construed as a criminal act by the IRS, punishable by one year in jail and $10,000 for each year not filed. Regardless of what you've heard, you have the right to file your original tax return, no matter how late it's filed. So whether you have 1 year or 10 years of unfiled tax returns, know that there's a solution to every problem.

Tax relief from back taxes or unfiled tax returns tip #2: Get help to save time and money.
If you owe more than $15,000 in back taxes or have 3 or more years of unfiled tax returns, it's important to hire an expert tax attorney or Certified Tax Resolution Specialist. An expert tax relief professional can help you save time, money, and frustration by educating you up front on what you need to do to resolve your specific IRS problems - while helping ensure you don't pay a penny more than you have to.

Tax relief from back taxes or unfiled tax returns tip #3: File your tax returns before the IRS files them for you. If you don't file your taxes, the IRS may file them for you. What many people don't know is that the IRS prepares substitute for returns in the best interest of the government, which often results in the overstatement of what taxpayers owe in back taxes and IRS penalties.

So even if you can't afford to pay your tax bill, it's important to file your most recent tax returns, as well as any prior delinquent tax returns, as soon as possible so you can have the chance to state what you truly owe. This will ultimately save you money and help you avoid significant long-term financial repercussions.

Tax relief from back taxes or unfiled tax returns tip #4: Make the IRS an offer they can't refuse. If you qualify for an offer in compromise tax settlement, you can save thousands of dollars in back taxes, penalties and interest. Having expert representation can greatly improve your chances of successfully negotiating and winning tax settlements.

If you don't qualify for an offer in compromise, there are other tax relief options including negotiating for your account to be placed in a "currently not collectible" status. An expert IRS tax attorney or Certified Tax Resolution Specialist can help you explore potential tax relief options.

Tax relief from back taxes or unfiled tax returns tip #5: Get on a plan. If you can't pay your back taxes in full but could potentially pay them back over time, you can negotiate a reasonable monthly payment plan with the IRS. A tax attorney or Certified Tax Resolution Specialist will aggressively negotiate an arrangement for the lowest possible monthly payment and options for making those payments. Once an IRS Payment Plan (also known as an Installment Agreement) is established, the IRS will not enforce collection action, including the levy of bank accounts or wages, as long as you remain current with all filing and payment obligations. However, interest and penalties continue to accrue.

Additionally, a tax lien may be filed as part of the terms of the installment payment agreement, depending on the amount of the total back tax liability. While it is always in the best interest of the IRS to get a signed waiver, it may not be in the taxpayer's best interest, so seek the advice of your tax attorney or tax resolution expert first.

The IRS is trying to put forth a kinder and gentler image in the face of the current economic meltdown. But the fact remains that in order to get the tax relief you need, you may need help filing those unfiled tax returns and paying the back taxes you owe. Remember that the key word in tax relief is relief, and you now have the power and the knowledge to make that happen

Get Business Tax Relief From an IRS Installment Payment Plan

It's no secret that the Internal Revenue Service is making a huge effort to collect every last cent of unpaid employment taxes or unpaid payroll taxes the government is owed. In that spirit, the IRS is cracking down on small businesses with unpaid payroll taxes and past due employment taxes, which until recently have largely flown under the radar. Any company with unpaid employment taxes or delinquent payroll taxes has committed a federal crime and can expect devastating results. If you have unpaid employment taxes or unpaid payroll taxes and are in need of business tax relief, here is what you need to do.

Unpaid employment taxes /unpaid payroll taxes tip #1: Understand the gravity of your situation. The IRS views unpaid payroll taxes and unpaid employment taxes as theft, and they carry severe consequences. Aside from penalties (33% plus interest at 16 days past the day you should have filed the 941 - payroll tax return) and prison time, the IRS can padlock your business's doors without a court order, seize your equipment and contact your customers to intercept any future payments owed to you.

The IRS doesn't care whether you stay in business or not - just as long as all unpaid employment taxes or past due payroll taxes owed are accounted for. You need business tax relief and negotiating a properly structured payment plan or IRS installment plan can help you manage your cash flow and cut new penalties in half.

Unpaid employment taxes /unpaid payroll taxes tip #2: Get professional advice NOW.

Even more than a personal audit, an unpaid payroll tax or delinquent employment tax investigation has the power to destroy you and the people who work for you. The IRS has subjective thresholds it uses to determine who was culpable in failing to file and/or pay unpaid employment taxes or unpaid payroll taxes. They can assess the Trust Fund Recovery Penalty (TFRP) and go after anyone and everyone including company owners, officers, shareholders, CPAs, accountants, EAs and bookkeepers.

You might be tempted to represent yourself before the IRS in your bid for business tax relief. Don't. This is the equivalent of defending yourself against murder charges without a lawyer. You are in over your head and have too much to lose.

To get business tax relief, it is vital to get professional help from a tax attorney or Certified Tax Resolution Specialist to protect you, your company and employees. A qualified professional will be able to negotiate for business tax relief in the form of an IRS payment plan or IRS installment plan for your unpaid payroll taxes or unpaid employment taxes. A good tax attorney or Certified Tax Resolution Specialist will tell you how best to move forward so you can get the business tax relief you need and keep your livelihood.

Unpaid employment taxes /unpaid payroll taxes tip #3: Move fast to protect your business.

The IRS prioritizes collecting unpaid employment taxes or unpaid payroll taxes. They accelerate the unpaid payroll tax or unpaid employment tax notice process, so it behooves you to move fast. Make no mistake; you have committed a federal crime. The money collected from employees to pay their shares of federal withheld tax, FICA and Medicare (Social Security) should have been paid to the federal government within three days after the pay date of the payroll checks.

If you are a candidate for business tax relief, contact a tax attorney or Certified Tax Resolution Specialist today. The penalties assessed on unpaid payroll tax/unpaid employment tax deposits or filings can increase dramatically in a matter of months. If you don't take immediate business tax relief action to deal with past due payroll taxes or unpaid employment taxes (and their escalating penalties) and get yourself on and IRS payment plan or IRS installment plan, you will find yourself out of business.

Unpaid employment taxes /unpaid payroll taxes tip #4: Be prepared to defend your proposal for yourself as well as your business point by point. The IRS moves fast, but with the help of a tax attorney or Certified Tax Resolution Specialist you can move faster towards attaining business tax relief. Because the IRS has almost unfettered powers to seize and liquidate, they are seldom in a mood to meet their victims half-way. To get business tax relief you need the expertise and nerves of steel that an experienced tax attorney or Certified Tax Resolution Specialist brings to the table when negotiating an IRS payment plan.

A tax attorney or Certified Tax Resolution Specialist will be able to analyze and articulate the real value of your business, taking every unique factor into consideration. The IRS will likely require you to submit a full set of financials for the business as well as for yourself. Your tax attorney or Certified Tax Resolution Specialist will submit a proposal for a business tax relief IRS payment plan or IRS installment plan and negotiate every federal objection point by point.

Unpaid employment taxes /unpaid payroll taxes tip #5: Don't settle when seeking expert and experienced tax relief. Your tax relief professional should understand your needs as a business owner for working capital and cash flow to keep your businesses running. A qualified tax relief professional knows that there's more at stake for you than cutting a deal with the IRS to save money - resolving you payroll tax issues is about saving the financial future of your company.

In this weak economy, many businesses - both big and small - are struggling to make their payroll tax deposits and many are falling behind. Delinquent employment taxes can be the "kiss of death" for many business owners as IRS payroll tax penalties can add up quickly. Payroll tax debt should not be taken lightly - IRS levies on wages and bank accounts can cause you to lose your business. Fortunately, there's a solution to every problem.