Concerning the subject of factoring companies and payroll taxes, a factoring company can actually assist in situations where there is a delinquency. The most important part of working through a problem with the IRS is to answer their calls and letters, and honor your commitments. As long as you show a willingness to cooperate you can avoid a LIEN on your business which you need to do at all costs. Once a lien has been levied against your company it will require a written subordination in order for any factoring company to even consider funding.
Getting a payment schedule going and a subordination of a lien is something a factor is very familiar with, so utilize our experience. Usually any invoice factoring company will help a business with tax problems to alleviate the situation. When a payment schedule is in place, we can send advances from invoices directly to the IRS. This insures that payments are being made in a timely fashion per the IRS agreement.
So tax problems can be fixed, but they can’t be ignored.