Could You Be Held Responsible For Unpaid Employment Taxes?
A trust fund recovery penalty (TFRP) occurs when an employer fails to pay the appropriate amount of payroll taxes to the IRS. The IRS may assess this penalty on any individual it deems responsible. Determining responsibility involves an intrusive assessment process for business owners, their husbands or wives, supervisors, managers and even lower-level employees.
Without experienced tax counsel and despite a limited liability classification, multiple individuals can be held liable for the same amount of tax debt as the business. Therefore, with multiple assessments, the resulting penalties can increase repayment exponentially.
At The Peck Group, LC, we have extensive experience handling TFRP issues. We know what information is essential to the defense of this penalty assessment. Our top priorities have always been — and will continue to be — to protect your interests and resolve your tax issues as quickly and efficiently as possible. Our firm provides clients with a feeling of confidence during a potentially stressful situation.
Trust Fund Recovery Penalty And Individual Tax Liability
The TFRP assessment process begins when you are first contacted by the collections division of the IRS. It is important to contact The Peck Group, LC, before having any discussions or further correspondence with the IRS. Many taxpayers have retained our firm after talking to the IRS first or giving us a brief interview. While IRS representatives might seem helpful and understanding, their role is not to assist you. IRS representatives work for the IRS, not you. By hiring The Peck Group, LC, you will obtain attorney-client privilege and receive advice on how to proceed before contacting the IRS.
Our attorneys will begin work immediately learning the specifics of your situation, investigating the facts and reviewing any communications you may have had with the IRS. All communications between us will be confidential, and we will share only what is necessary with the IRS.
The Peck Group, LC, realizes the burden TFRPs place on a business, its managers and the families of those involved. This is why we focus on providing outstanding nationwide client service that gets results as quickly and cost-efficiently as possible.
Contact Us Now For A Free Half-Hour Consultation With A Lawyer
If you could be held personally responsible for business employment taxes, do not wait. Contact us online or call our firm at 770-884-6914 to schedule your free half-hour consultation and learn what remedies may be available.