What’s happening
Missed deposits/returns can trigger aggressive action, including Trust Fund Recovery Penalty for responsible persons.
What we do now
- Stop/mitigate enforcement where possible
- File/repair 941s and set deposit processes
- Structure agreements that fit real cash flow
- Counsel on TFRP exposure and defense
941 Payroll Tax Problem Resolution in Action
Implemented airtight payroll process
Halted levy
Filed 3 quarters of returns
Set a manageable plan
Can I avoid TFRP?
You can avoid the Trust Fund Recovery Penalty (TFRP) primarily by ensuring all employment taxes are collected, accounted for, and paid to the IRS on time. If a business fails to do so, you might be able to avoid the penalty by proving you were not a “responsible person” or did not act “willfully” in failing to pay the taxes.
How fast can we stop a levy?
You can stop an IRS levy the fastest, potentially in a day or two, by either paying the tax debt in full or by proving to the IRS that the levy is causing an immediate economic hardship that prevents you from meeting basic living expenses.
What if cash flow is tight?
The IRS offers several programs designed to help taxpayers who are struggling financially, often under the umbrella of the “Fresh Start” initiative: Installment Agreement, Offer in Compromise or Penalty Abatement
Talk to a tax professional now.
We pursue every lawful option. Outcomes depend on your facts and IRS rules. No specific results guaranteed.