Payroll Tax Issues
The IRS is Particularly Aggressive About Payroll Taxes
If there is anything that makes the IRS freak out, then it is unpaid payroll tax debt. The IRS will take swift and decisive action. Payroll taxes are in a “Trust Fund” that the employer holds on behalf of the employees for the government. It is considered theft if these funds are not remitted to the IRS. The IRS will be particularly aggressive, so it is more important for you to get support.
Contact us now to get the support you need!
Trust Fund Recovery Penalty
Once an employer has payroll payments overdue, the IRS will try to identify people from whom they can recover the money. The IRS will hold accountable as many people as they can. Then, they will impose a “Trust Fund Recovery Penalty” (TFRP – IRS link)” on these people. Everyone of them will owe 100% of the missing payroll tax until it is paid in full. This could affect many people, including managers, accountants, bookkeepers, secretaries, and others. This can be a very serious situation, but we are here to help.
Call us to see what can be done.