The number one reason why small businesses get into tax trouble is due to failure to report and pay payroll taxes. Payroll tax liabilities are such a large part of the Tax Gap that the IRS has started a number of initiatives to deal with the non-compliance by employers. This program covers the current IRS initiatives to deal with payroll tax issues, including the Trust Fund Recovery penalty and how the IRS will pursue responsible owners and employees of the business it believes is responsible for the unpaid payroll taxes. The program also reviews how practitioners can help their clients either avoid the Trust Fund Recovery Penalty or resolve the personal liability issues.
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Learning Objectives
After attending this presentation you will be able to...
- Understand how the IRS assesses the company and responsible individuals for the unpaid payroll taxes
- Identify who may be deemed personally responsible for the unpaid payroll taxes
- Explain the assessment procedures under IRC 6672
Major Topics
The major topics that will be covered in this class include:
- The basics of resolving an outstanding payroll tax debt
- Handling personal liability for owners and key employees
- Issues pursuant to the trust fund recovery penalty
