All case studies
IRS & Financial ConsultingCoconut Creek, FL· Family-owned service business (12 employees)
Payroll 941 Cleanup — 8 Back Quarters Filed, Penalties Abated
8
Quarters brought current
$9,400
Penalties abated
$480
Manageable monthly payment
The challenge
A 12-employee family business had stopped filing Form 941 quarterly returns during a period of family hardship. The IRS had started assessing failure-to-file and failure-to-pay penalties totaling $9,400.
Our approach
- Reconstructed payroll records from payroll-provider exports and bank records.
- Filed all 8 missing 941s plus matching W-2/W-3.
- Reconciled deposits and applied FICA tip credits where applicable.
- Requested First-Time Abatement on penalties for the qualifying quarter.
- Negotiated installment agreement for remaining balance.
The outcome
All quarters filed and accepted. FTA granted on $9,400 in penalties. Installment agreement set at $480/month over 36 months.
Related services