When a corporation fails to pay payroll taxes, the IRS can hold individuals personally responsible. Our expert team helps protect you from personal liability and aggressive IRS action.
Watch our expert explain how Trust Fund Recovery Penalty works and how it can help you
This video provides an overview of the Trust Fund Recovery Penalty process and what to expect when working with Valor Tax Relief.
A penalty that allows the IRS to hold individuals personally responsible for unpaid payroll taxes
The TFRP is a penalty assessed by the IRS when a business fails to remit withheld payroll taxes (also known as "trust fund taxes"), including:
The IRS can seize personal assets, including homes, wages, and bank accounts
Penalties can grow rapidly with interest and compound over time
Delay can lead to legal complications and enforcement actions
Note: Taking early action gives you more options for resolution and better protection of your personal assets.
Our experts move quickly to protect your rights and finances
Assess your level of liability under IRS criteria
Gather documentation to dispute or limit liability
Handle all IRS communications on your behalf
Work out payment plans or settlement alternatives
Guide you to a resolution that preserves your assets
We communicate directly with the IRS to ensure the best possible outcome for you.
"I didn't even know I could be personally liable for our payroll tax issue. Valor Tax Relief stepped in fast, handled the IRS, and helped me avoid financial disaster."
Michael B.
Nevada
These include federal income tax withheld from employees and the employee portion of Social Security and Medicare taxes.
The IRS looks at who had authority over payroll and tax payments and whether the failure to pay was intentional or willful.
Yes. More than one individual can be held jointly and severally liable for the full penalty amount.
Yes. With proper documentation and representation, you can challenge the penalty or request an appeal.
The IRS generally has three years from the date the tax is assessed to impose the TFRP.
Business owners, shareholders, corporate officers, directors, bookkeepers, payroll managers, and anyone with authority over financial decisions or payroll functions.
The IRS can seize personal assets including homes, wages, and bank accounts. Penalties can grow rapidly with interest, and delay can lead to legal complications.
We evaluate your liability, collect documentation to dispute or limit liability, represent you in IRS communications, negotiate payment plans, and guide you to resolution.
The TFRP is a penalty assessed by the IRS when a business fails to remit withheld payroll taxes, allowing the IRS to hold individuals personally responsible for unpaid payroll taxes.
Call us at 877-814-2398 for a free consultation. We'll evaluate your liability, explain the process, and help you determine the best defense strategy.
Our team of experienced tax professionals is here to help. Contact us today for a free consultation about your Trust Fund Recovery Penalty case.
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