Trust Fund Recovery Penalty

Trust Fund Recovery Penalty Lawyers - Defend Against the IRS Pursuing You as the Responsible Party today.

Trust Fund Recovery Penalty

When a business has unpaid employment taxes (Employer’s Quarterly Federal Tax Return), the IRS may try to assert the Trust Fund Recovery Penalty against a responsible person, such as the owners, officers, directors, shareholders or bookkeepers of the business.   In determining whether to assert the Trust Fund Recovery Penalty against an individual, the IRS looks at who had check signing authority, the officers and owners of the business, the control the person exercised over the business’ financial decision, who signed the tax returns, who had bank and/or EFTPS pass codes or pin numbers, and who hired and fired employees.  Once the IRS determines who the responsible persons were, the IRS then must show that these individuals knew or should have known that the taxes were not getting paid while other creditors were getting paid. The Trust Fund Recovery Penalty consists of all of the income tax that was withheld from employees’ wages and the employees’ share of FICA and Medicare.   The Trust Fund Recovery Penalty does not include the business’ portion of the FICA and Medicare tax, any penalties assessed against the business, or any interest due on these liabilities. Resolving Trust Fund Recovery Penalty Assessments If you are assessed with a Trust Fund Recovery Penalty, the IRS will look to collect that amount due from your personal income sources and your personal assets.   You have several options available to deal with Trust Fund Recovery Penalty assessments, you can set up an installment agreement with the IRS, you can request an uncollectable status with the IRS, or you can request a settlement with the IRS through their Offer In Compromise program.

Do You Need Trust Fund Recovery Penalty Legal Representation?

Our Trust Fund Recovery Penalty lawyers are highly experienced and knowledgeable of Business Taxes law in Utah and Federally. They have dealt with nearly every kind of tax situation imaginable, and they will be able to help you navigate the complex world of tax law as you try to deal with the IRS and other agencies.

best utah tax attorneys
Michelle is the most passionate attorney in the state of Utah! I trust her with all of my tax issues. The staff is wonderful as well!
Zaina Ayyoub
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Related Content

Our Local, State, and Federal Tax Lawyers

We are a full-service tax law firm with more than 30 years of experience helping individuals and businesses deal with all of their tax and bankruptcy issues. If you are dealing with the IRS or a State taxing authority, our tax attorneys can help you navigate the bureaucratic process, make sure that your rights as a taxpayer are protected and resolve your issues in the best manner possible.

We'll Help You Deal with the IRS

The IRS can be ruthless when it comes to dealing with those they believe have committed tax fraud or who owe them money. If you have come into conflict with the IRS, you’ll want our experienced Salt Lake tax law professionals on your side. Our tax attorneys will represent you and help your case reach the most favorable outcome.