Payroll Tax and Personal Liability - What You Need to Know!

EVENT DESCRIPTION

Payroll Taxes & Personal Responsibility: We see many individuals that have had their lives turned upside down by being personally assessed for payroll taxes. And many of these individuals have missed opportunities to insulate themselves from liability and timely challenge an assessment.

During this one hour CE we will discuss how the IRS asserts personal responsibility against business owners, officers, and employees for failure to collect and pay over the trust fund portion of payroll taxes. We will discuss the "responsible" and "willful" elements of the "trust fund recovery penalty" (TFRP) and how the IRS asserts them in practice. We will discuss the TFRP procedures and opportunities for challenging a TFRP assessment. If time allows, we will also briefly discuss the personal liability for Maryland payroll taxes.