Source: http://thorgoodlaw.com/category/trust-fund-recovery-penalty/
Timestamp: 2017-06-29 12:39:31
Document Index: 525227453

Matched Legal Cases: ['§6672', '§3101', '§3402', '§3403', '§6672', '§7202', '§ 6672', '§ 7202', '§6672']

Trust Fund Recovery Penalty	Who Qualifies As A Responsible Person To Pay A Trust Fund Penalty?Published May 10, 2017 | By admin	The IRS utilizes a very broad definition of “responsible person” in the context of trust fund recovery penalties. The term, which may extend to more than one party within a corporation, partnership or LLC, applies to any person who willfully fails to perform a duty to pay trust fund taxes. It may be a corporate officer, director, employee, or shareholder, as well as a manager, employee, or member of a limited liability company. If a person is in any of the aforementioned positions where he or she controls a business’s financial affairs, liability as a responsible person for trust fund recovery penalties is a genuine possibility.
This is a preview of Fitzpatrick V. Commissioner & The Trust Fund Penalty – The Aggressive IRS Loses A Big Case. Read the full post (531 words, 1 image, estimated 2:07 mins reading time)	Posted in FICA, Trust Fund Recovery Penalty | Tagged Federal Insurance Contributions Act (FICA), I.R.C. §6672, income tax, negligent, payroll tax, Trust Fund Recovery Penalty, willful | Leave a comment	Who Is Liable For Failure To Pay Over Employment Taxes?Published June 17, 2016 | By admin	Employers are required to withhold federal income and payroll taxes from their employees’ wages for payment of payroll taxes such as federal income taxes and FICA (Federal Insurance Contributions Act) taxes, which are held in trust until the employer makes a federal deposit of these amounts. The IRS applies a term, “Trust Fund Recovery Penalty” or TFRP, well-known by employers, to describe the fine for employer’s willful failure to pay over these taxes. Persons responsible for making such payments may be subject to criminal charges for any willful failure to do so. Most TFRP cases involve corporate officers.
This is a preview of Who Is Liable For Failure To Pay Over Employment Taxes?. Read the full post (760 words, 1 image, estimated 3:02 mins reading time)	Posted in Audit, Civil Penalties, Criminal Liabilities, Employment Taxes, Internal Revenue Code, Trust Fund Recovery Penalty | Tagged Federal Insurance Contributions Act (FICA), I.R.C. §3101, I.R.C. §3402, I.R.C. §3403, I.R.C. §6672, I.R.C. §7202, income tax, Lawyer, negligent, new york city tax attorney, New York City Tax Lawyer, New York Tax Attorney, New York Tax lawyer, nyc tax attorney, payroll tax, reckless disregard, Tax, tax attorney, tax lawyer, Trust Fund Recovery Penalty, willful | Leave a comment	Fail to Turn Over Payroll Taxes To The IRS? You Could Be Looking At Jail TimePublished May 2, 2016 | By admin	An employer is required to withhold federal income and payroll taxes from its employees’ wages for payment to the IRS. Payroll taxes such as federal income taxes and FICA (Federal Insurance Contributions Act) taxes, both withheld by an employer, are held in trust until the employer makes a federal deposit of these amounts. The IRS applies a term, “Trust Fund Recovery Penalty” or TFRP, well-known by employers, to describe the fine for employer’s willful failure to remit payroll taxes.
This is a preview of Fail to Turn Over Payroll Taxes To The IRS? You Could Be Looking At Jail Time. Read the full post (584 words, 1 image, estimated 2:20 mins reading time)	Posted in Audit, Civil Liabilities, Civil Penalties, Criminal Liabilities, Employment Taxes, Representation, Trust Fund Recovery Penalty | Tagged Federal Insurance Contributions Act (FICA), I.R.C. § 6672, I.R.C. § 7202, income tax, Lawyer, negligent, new york city tax attorney, New York City Tax Lawyer, New York Tax Attorney, New York Tax lawyer, nyc tax attorney, payroll tax, reckless disregard, Tax, tax attorney, tax lawyer, Trust Fund Recovery Penalty, willful | Leave a comment	PAYROLL TAX: THE TRUST FUND RECOVERY PENALTYPublished January 27, 2016 | By admin	Employers must deduct taxes from their employees’ wages. Employers must make tax deposits and payments on time or they are subject to a Trust Fund Recovery Penalty (“TFRP”). To avoid the TFRP, employers must make sure that all employment taxes are collected, accounted for, and paid to the IRS when required . There are three parts or types of payroll or employment taxes withheld from the employee and reported on form 941, filed quarterly:
This is a preview of PAYROLL TAX: THE TRUST FUND RECOVERY PENALTY. Read the full post (825 words, 1 image, estimated 3:18 mins reading time)	Posted in Business Expense, Civil Liabilities, Civil Penalties, Representation, Trust Fund Recovery Penalty | Tagged employment taxes, federal withholding, FICA, Form 940, FUTA, I.R.C. §6672, payroll taxes, Trust Fund Recovery Penalty | 1 Comment	Follow Us!