Posts Tagged ‘civil penalty’

Can the payroll clerk be charged for the Trust Fund Penalty?

  • August 2nd, 2023
  • David Greene
  • Comments Off on Can the payroll clerk be charged for the Trust Fund Penalty?

Yes, the IRS can pursue a payroll clerk as a “Responsible Party” for the Trust Fund penalty.  I am quite sure that the owners and/or managers of the company would also be contacted and found to be responsible.  They probably…

How does the IRS determine who owes the Trust Fund Penalty?

  • June 6th, 2019
  • David Greene
  • Comments Off on How does the IRS determine who owes the Trust Fund Penalty?

The Trust Fund Penalty (TFP) is not really a penalty but is instead a portion of the payroll taxes a company is required to collect from employees and pay to the IRS.  The employer withholds federal, social security and Medicare…

Can one designate voluntary payments from the sale of corporate assets to pay the trust fund portion of delinquent taxes?

  • February 14th, 2019
  • David Greene
  • Comments Off on Can one designate voluntary payments from the sale of corporate assets to pay the trust fund portion of delinquent taxes?

Thank you for your question.  The answer is, yes you can designate to which taxes the money you pay to the IRS will be applied as long as it is a “voluntary” payment and not one paid due to forced…

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