Failing to pay employment taxes when due is considered by the IRS the cardinal sin of all non-payment of taxes. The employer is considered to be stealing their employee's money. Money that is held in trust by the employer.
Congress passed the Trust Fund Recovery Penalty Statute to encourage employers to make prompt payments of employment taxes collected and held in trust for their employees. The Trust Fund Penalty is equal to the tax required to be collected or collected and not paid over. This penalty is known as the "100 percent" penalty.
This is an area where the corporate veil does not protect officers of the corporation. Pursuant to IRC 6672, IRS may proceed against any person responsible for the nonpayment of employment taxes. This penalty cannot be discharged in bankruptcy.
DO NOT meet with IRS on your own. You need representation. Your initial answers will determine whether you say in business or not. IRS would prefer to seize and sell your business assets to pay the taxes due than to see you continue nonpayment of additional payroll tax liabilities.
Contact The Tax Law Pros NOW for help before IRS closes down your business.