Note: No educational credits are issued for the recording.
Despite the help being offered to small businesses with the current Coronavirus situation, it is expected that many small businesses will fail and either fail to pay the payroll taxes it currently owes or fail to repay the payroll taxes over the two year deferment congress is offering. And payroll taxes are the number one reason why small businesses get into trouble with the IRS and end up in our offices!
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.
Learning Objectives:
- 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
