Trust Fund Recovery Penalties
Do You Face Trust Fund Recovery Penalty Questions from the IRS?
When an employer withholds funds for taxes from employees’ paychecks, it is expected to hold those funds in trust and pay them over to the IRS. The failure to manage the trust fund and pay those withheld taxes to the IRS in a timely manner is cause for scrutiny, potential penalties and even criminal prosecution. The penalties for mismanaging the withholdings trust funds and failing to turn the government’s share over in time are equal to 100% of the amounts that have gone unpaid.
Contact Brown, PC to schedule a preliminary case evaluation of your Trust Fund Recovery Penalty (TFRP) matter.
Responsibility for mismanagement of salary withholding trust funds may be assigned to any person in his or her individual capacity who has signature authority over the trust funds, including CPAs, CEOs and members of the board.
Responsibility for trust fund penalties cannot be discharged in bankruptcy. A company may go out of business, yet the IRS will continue to pursue you in your individual capacity.
The stakes are high and your need is great for experienced, qualified legal counsel if you are grappling with trust fund recovery penalties associated with allegedly mismanaged withheld taxes.
If you or your company faces this predicament, Attorney Lawrence Brown is an ideal resource. A former Department of Justice Tax Division Trial Attorney with 18 years of experience in private practice handling IRS tax controversies. Clients of Brown, PC range from high net-worth individuals to large privately held businesses. The law practice, located in Dallas-Fort Worth, Texas, represents clients nationwide and worldwide.
Initial Consultations Available by Phone
Contact tax litigation lawyer Lawrence Brown to schedule a consultation regarding trust fund recovery penalties and your need for legal representation before the IRS. Call 888-870-0025 to begin the important dialog that can lead to resolution.