Trust Fund Penalties

Are you facing Trust Fund Penalties?

If you are someone who is responsible for the employment taxes for a business, such as withholding social security taxes, and you willfully fail to fulfill your duties, the IRS may take aggressive action against you to collect on the unpaid tax debts via trust fund penalties.  

This type of situation is one of the few times when the IRS can go after personal assets to recover business related tax expenses. The IRS does this by assessing the Trust Fund Recovery Penalty (TFRP) which can cause very serious financial problems both for a business and the individual’s finances.

Most of the time the TFRP is filed against either the owner of a company, or the principal officers that were directly involved with the tax withholding decisions. In many cases, however, the IRS will attempt to use the TFRP against individuals associated with the company that they shouldn’t. This is one type of situation where having a good tax attorney can help to quickly end the trust fund penalties.

Even if the IRS is working against the proper person there are still many things that can be done to reduce or even eliminate trust fund penalties. The attorneys at the law office of Robert V. Boeshaar will work directly with the IRS on your behalf to qualify for programs or file appeals to help ensure you get the best possible outcome for your specific situation.

Contact us to set up an appointment for a consultation with an experienced tax attorney today
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