Month: June 2023

If you own or manage a business with employees, there’s a harsh tax penalty that you could be at risk for paying personally. The IRS Trust Fund Recovery Penalty (TFRP) applies to Social Security and income taxes that are withheld by a business from its employees’ wages. Sweeping Penalty The TFRP is dangerous because it … Continue reading “The Trust Fund Recovery Penalty: Who can it be personally assessed against?”