As we have written in previous posts, if your business has a large enough 941 debt you'll probably be getting a call from one or several telemarketers in Colorado. Many of the companies are legit—maybe pricy—but several of them have logged some time in the field representing taxpayers. Nonetheless, if a tax lien has been placed on your business, it's safe to say it's game on. The IRS has selected you as a company it's going to pursue.
In the most simple terms, the resolution of your 941 tax problem is going to be dependent on the direction your company will take:
Will your business ...
1. Grow?
2. Tread water?
3. Or tank?
Your business is growing. If your business is going to grow and whatever happened before was just a hitch, then you are likely going to be set up into a payment plan and have a chance to waive penalties on the back end.
Your business is treading water. If you're surviving paying current payroll taxes and normal business expenses and not much else, then you might just hit the sweet spot of settling the debt through Offer in Compromise or having case closed as Uncollectible.
Your business is tanking? If you are business can't be helped, it might be time to consider dissolution and the positive ramifications that might have your 941 tax problem.
