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Tag: Trust Fund Recovery Penalty

How to Appeal the Trust Fund Recovery Penalty

Appealing the TFRP

The trust fund recovery penalty (TFRP) is equal to 100% of any unpaid trust fund taxes. You may become personally responsible for this penalty if the IRS determines that you are a responsible person at the business who willfully failed to send the payroll tax money to the IRS. The TFRP is a severe penalty,… Read more »

Resolving Trust Fund Recovery Penalty Disputes

Tax Penalty

What are Trust Fund Taxes? Trust fund taxes include the Social Security, Medicare, and federal income tax a business withholds from its employees’ wages. These amounts are held in trust by the business until they are transferred to the IRS.

IRS Trust Fund Recovery Penalty

Understanding the “100% Tax Penalty” that Allows the IRS to Go After Multiple People in a Single Business When most people think of “trust funds” their minds immediately go to extremely decadent lifestyles equipped with fancy cars, caviar, and private islands, but when it comes to Trust Fund Recovery Penalties imposed by the IRS, the… Read more »