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To understand when a responsible party receives an IRS notice that they owe payroll taxes for company that they worked for, even if they are not associated with that employer any longer. How do you defend yourself when this notice comes in?
Instead of just appealing the penalty, you can actively request its removal by filing IRS Form 843 (Claim for Refund and Request for Abatement). This powerful—but often overlooked—tool can reverse the TFRP, if you meet the right criteria and present a compelling case. Trust Fund Recovery Penalty Solutions available to resolve the tax liability for both the business and the individual(s) held responsible. And if the IRS is attempting to assess the Trust Fund to an employee of the business that should not be held personally responsible, you may submit a Protest of the Proposed Trust Fund Assessment.
Learning Objectives
Key topics covered in this course:
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Utilizing the IRS Offer in Compromise Program for your Financially Distressed Client