When payroll taxes (940/941) are neglected for an extended period of time, the business could be forced to close, and all assets can be taken to fulfill the tax debt. Whether or not the business is closed, you need to make a plan to pay the taxes and resolve the debt. The IRS will not go away when they think you have their money. By not paying or making arrangements to pay your tax debt, your personal finances, along with the businesses finances, will be in jeopardy.