Invoice factoring boosts a company with 940/941 payroll tax problems back on track.
Danny C., president of a regional security company, credits MP Star Financial, his invoice factoring company, with helping to solve his IRS 940/941 payroll tax problems.
What could a factoring company do for your business?
“My company suffered financial setbacks during 2003 and 2004,” Danny says, “which resulted in our falling behind in our IRS payroll tax obligations. In 2005, the IRS filed a tax lien and we were in jeopardy of losing our business because of major payments for back payroll tax obligations. Since 2005, we have repaid our outstanding payroll tax obligations and have remained current on our ongoing 940/941 payroll tax payments because of accounts receivable financing.”
“A big reason why we could solve our tax problems, continue to grow our company and meet our payroll and payroll tax obligations was because of our factoring company, “MP Star Financial.” MP Star worked with the IRS to get the subordination of the IRS tax lien and we used receivables factoring to pay the obligation completely in 10 months. Since then, we have used accounts receivable financing to remain current and further grow our business.”
“MP Star was a tremendous asset to our company as we worked to solve our payroll tax problems. We would like to thank MP Star for its support in the past as well as going forward.”
-Danny C., President
Thanks to invoice factoring, delinquent payroll tax obligations do not have to shut down your company.
“Payroll and payroll taxes are oftentimes a struggle for companies. Their working capital is tied up in accounts receivable and the result is poor cash flow. Poor cash flow causes companies to struggle to meet their payroll and the associated payroll tax obligations. It does not have to be that way. Accounts receivable financing can help a company solve its cash flow problems and continue to grow.”
-Gage Price, Founder and President, MP Star Financial, Inc.
How could a receivables factoring program transform your business? Find out now.
At MP Star Financial, our commitment to our clients is clear. Request an accounts receivable financing quote today and gain the support of a factoring company that provides the flexibility, discretion and convenience you need to succeed. Get complete control of your receivables factoring program and put the power of invoice factoring to work for your business. Email us or call 1-800-833-3765 today.