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TRUST FUND RECOVERY PENALTY BASICS

Cost Free
Presentation Length 1.0 hour

Recorded DateNovember 29, 2018
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

Congress passed a law that provides for the Trust Fund Recovery Penalty (TFRP) to encourage prompt payment of withheld income and employment taxes, including social security taxes, railroad retirement taxes, or collected excise taxes. These taxes are called trust fund taxes because you actually hold the employee's money in trust until you make a federal tax deposit in that amount. The IRS has indicated that they will pursue employers for penalties at a pace not seen in recent history. Attend this basic overview seminar to learn what you need to know about the Trust Fund Recovery Penalty, as well as strategies for its prevention and defense.

Learning Objectives

  • Understand IRS compliance efforts and newly announced ones.

  • Learn about the Trust Fund Recovery Penalty (TRFP) and when it can be imposed.

  • Discover strategies to help your client resolve their employment tax issues.

  • Learn defense strategies for TFRP cases.

  • Discover strategies to help your client resolve their employment tax issues.

  • Understand the rights your taxpayer may have in the collection or appeals process.

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Tanya has been an enrolled agent since 2006 and received a B.S. in accounting and a minor in business administration from Mesa State University. Tanya practices as a public accountant in the area of personal, business, and non-profit tax preparation, planning, and consulting. She is also a CTRS - Certified Tax Resolution Specialist. She has been practicing in accounting and taxation since 1994.

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