Facing the Trust Fund Recovery Penalty? What is the Trust Fund Recovery Penalty?
I represent taxpayers in Lake City and the rest of Florida and have recently seen coming to us who have payroll tax issues. This creates the Trust Fund Recovery Penalty. You don't want to face the Trust Fund Recovery Penalty.
Business owners receive a letter stating the IRS can and will assess them personally for unpaid payroll taxes, this is called a “Trust Fund Recovery Penalty” [TFRP].
Individuals that IRS targets for Trust Fund Recovery Penalty assessment are owners of the business , corporate officers, partners, or any individual, the IRS claims was responsible to pay payroll trust fund taxes to the Treasury, but willfully failed to pay. "Willful" is satisfied if the business paid other creditors while owing unpaid payroll trust fund taxes. Owners and bank account signers are alleged as liable for Trust Fund Recovery Penalty.
An IRS Collection employee, will begin theTrust Fund Recovery Penalty investigation by insisting the individual target submit to an in-person Q&A session where the IRS completes IRS form 4180, “Report of Interview with Individual Relative to Trust Fund Recovery Penalty” and demands taxpayer sign it as fact.
Don't appear before the IRS to provide testimony. Hire a qualified tax resolution expert to engage the IRS. Often, IRS has already decided the Trust Fund Recovery Penalty target is liable before the interview.
Once the IRS concludes who is Trust Fund Recovery Penalty liable they prepare IRS form 4183. Next is the legal procedure to assess any individual a Trust Fund Recovery Penalty penalty.
If you or someone you know is facing a payroll tax issue or has unfiled tax returns, facing the Trust Fund Recovery Penalty or some other federal or state tax issue, please feel free to contact me at either (407) 287-6638 or by email @pleclaire@nltr.onmicrosoft.com.
Patrick LeClaire, Enrolled Agent
Lake City, Florida
Ph. (407) 287-6638
Fax (727) 270-8947
pleclaire@nltr.onmicrosoft.com
