EP107: How to Safeguard Against IRS Trust Fund Claims
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The IRS is relentless when it comes to trust fund recovery penalties, which can leave you personally liable for the taxes you collect from employees but fail to remit.
In this episode, Jonathan Donenfeld discusses the IRS trust fund recovery penalty and how it affects business owners like you. This penalty isn't limited to the business owner alone—if you’re an operator or even a partial owner, you could be held personally responsible as well. The IRS treats unpaid payroll taxes as if you're withholding their money, and in severe cases, this can lead to criminal charges.
The IRS is so aggressive in collecting payroll taxes and how they see it as “their money” that you’re holding on their behalf.
Tune in to this episode for critical advice on how to safeguard your business from IRS trust fund claims and avoid personal liability.
JLD Tax Resolution Group is here to lend a hand. Feel free to schedule a complimentary consultation by calling us at 201-479-2572 or visiting our website www.201tax.com.
100 episode