Note: No educational credits are issued for the recording.
The number one reason why small businesses get into tax trouble is due to the 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 which rolled out this past January. This program will cover 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 will also review how practitioners can help their client’s either avoid the Trust Fund Recovery Penalty or resolve the personal liability issues.
- 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