Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

I AM LIABLE FOR UNPAID EMPLOYMENT TAXES! WHAT IS THE TRUST FUND RECOVERY PENALTY?

April 26, 2017employment fund liable penalty recovery taxes Trust unpaid

0

Posted

I AM LIABLE FOR UNPAID EMPLOYMENT TAXES! WHAT IS THE TRUST FUND RECOVERY PENALTY?

1 Answer

0

Posted

The Trust Fund Recovery Penalty is the amount an employer withheld from his employees for Social Security, Medicare and income taxes. When an employer fails to deposit these federal payroll taxes, the IRS will assess a Trust Fund Recovery Penalty. See More On Payroll Tax.