Tampa Construction Industry IRS Problems
Tampa's construction boom creates massive payroll tax exposure. Subcontractor misclassification is the hidden trigger.
Hillsborough County's construction industry is booming. Residential, commercial, and infrastructure projects employ thousands. The IRS exposure comes from two directions: payroll tax deposits and worker classification.
Treating employees as 1099 subcontractors triggers reclassification audits. When the IRS reclassifies workers as employees, the company owes all the unpaid employment taxes plus the Trust Fund Recovery Penalty hits the owners personally.
The Fix
Section 530 relief can protect companies that had a reasonable basis for classification. Voluntary Classification Settlement Program lets you correct going forward at a reduced cost. For existing payroll tax debt, payment plans and OICs are available.
If your Tampa construction company has IRS issues, call before the Revenue Officer does.
32 years fighting the IRS. Free consultation for Tampa, Brandon, Riverview, and all of Hillsborough County.
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