Trust Fund Recovery Penalty

With the extreme economic pressure large and small businesses face on a daily basis, the failure to make the required payroll tax deposits can occur.

The Internal  Revenue Service, under the appropriate provision of the Internal Revenue Code, can deem  the withheld portion of the payroll tax to be the responsibility of the business’ responsible individuals.

Unless an appropriate and timely appeal to such a proposal is prepared and filed, the business owner will be faced with the assessment of the Trust Fund Recovery Penalty.  this assessment will result in the filing of  tax lien in the county of residence as well as the credit report.  Employment Taxes and the Trust Fund Recovery Penalty (TFRP)

The timely intervention of Gregory C. McCarthy will result in the preparation of an appeal to protect against an improper assessment.