What to Do When your Tax Obligations are Overdue

Small business owners have the added responsibility of ensuring that they are aware of, and comply with, a variety of tax obligations.  For some, this can be somewhat overwhelming, resulting in an accumulation of government notices, assessments, requests for information etc. that just add to stress levels.  While ignoring the problem, hoping that it will go away, may seem like an attractive option, it is important to note that the revenue agencies never forget.  They are also both able and willing to take extreme measures to collect upon what they perceive to be unpaid debts eg. Freeze your bank accounts.