The Trust Fund Recovery Penalty (TFRP) is a critical component of the United States’ tax enforcement system. It was established to ensure the collection of unpaid 941-employment taxes by holding specific individuals responsible for the accrual of employment taxes that stemmed from a business. This penalty has been the subject of a fair amount of …
Are you an owner or employee of a business that is delinquent with employment taxes? If so, watch out! It is possible that you will be held personally liable for what is called the Trust Fund Recovery Penalty. What is the Trust Fund Recovery Penalty? In short, the Trust Fund Recovery Penalty is a penalty …
When the Internal Revenue Service created the Offer in Compromise program, the candidates they probably had in mind were those people who were struggling to keep the lights on, feed and clothe themselves and their children, and keep a roof over their heads. The ideal candidate, they most likely surmised, is not a for-profit business. …
Can My Business Settle IRS With Business Offer in Compromise? Read More »
