STEER CLEAR OF THE TRUST FUND RECOVERY PENALTY If you own or manage a business with employees, you may be at risk for a severe tax penalty. It’s called the “Trust Fund Recovery Penalty” because it applies to the Social Security and income taxes required to be withheld...
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trust fund recovery penalty
Tax Court Rules Check Signer Responsible for Employer Taxes
The Tax Court has ruled that a corporate officer should be held liable for the trust fund recovery penalty. It didn’t buy her contention that she had made a reasonable effort to pay the delinquent employment taxes. Background on trust fund recovery penalty.Code Sec....
