Reports on the revision of the trust fund compliance procedures by the Internal Revenue Service (IRS) in the U.S. Significance of trust fund taxes for the top financial people at a company; Liability of financial executives if the company fails to withhold and pay the necessary amounts to ...
The IRS has the ability to place and enforce liens on property and other assets for nonpayment of taxes. The activities of the IRS fund (many of) the functions of the American government. It is not responsible for collection of state and local taxes. See also: Notice of seizure. Farlex ...
A responsible person is a person or group of people who has the duty to perform and the power to direct the collecting, accounting, and paying of trust fund taxes. For example, this person may be: An officer or an employee of a corporation, a member or employee of a partnership, a co...
Trust Fund Recovery Penalty Unfiled Tax Returns Wage Garnishments Abatement of Interest and Penalties In order to encourage taxpayers to file their income tax returns or business tax returns and pay their taxes on time, the Internal Revenue Code (Tax Code) provides for penalties. A tax penalty ...
Payroll Taxes (Trust Fund Recovery Penalty) Employee vs. Independent Contractor Classification Tax Audit Experts Are At Your Service! We are a team of Tax Professionals, CPA’s, Enrolled Agents and Tax Attorneys who specialize in Tax Audit Representation & Resolution. Tax Audit Representation You fi...
Business and payroll tax issues often spill over, affecting your personal financial situation, and can lead to challenges with income taxes for both your business and yourself. We don’t just see numbers—we see the person behind the problem. We know how hard you’ve worked, and our team ...
Business Tax Resolution Trust Fund Recovery Penalties IRS Payment Plans Collection Statute Dates Let Us Help You Start Resolving Your Tax Problems Today 1. Our Affordable & Experienced Tax Team Handles Everything For You! Colonial Tax Consultants is a small team of tax attorneys and enrol...
1-866-482-9707 TAX BLOG Offer in CompromiseIRS Levy and Wage GarnishmentsFranchise Tax Board Innocent SpouseInstallment AgreementsTrust Fund Penalty You owe the IRS back taxes. You may have already experienced an IRS levy, IRS wage garnishment, seizure, or suffered from the filing of an IRS ta...
IRS Audits Appeals (include Collection Due Process cases) Employment and Payroll Taxes – combine with Trust Fund Penalties Innocent Spouse Relief Tax Court Our Firm has a three-step process to resolve IRS problems. FIRST STEP An Initial Consultation to find out if we can help you. ...
IRS Casts Wide Net for Unpaid Payroll Taxes.The article focuses on holding personal liabilities for the person who willfully fails to pay over trust fund taxes. It discusses two cases related to unpaid trust fund taxes including Buddy Light Accounting & Tax Services and Mark Comeaux worked for ...