Trust Fund Recovery Penalty Actions Emphasized
In no uncertain terms, the IRS has been told to increase Trust Fund Recovery Penalty actions against business owners. A new report from the Treasury Inspector General for Tax Administration found that the IRS’s penalty actions against employers who fail to remit payroll taxes are neither timely nor adequate. The IRS has been lax when it comes to assessing the Trust Fund Recovery Penalty. The Tax Resolution Institute believes that this audit was the first step in an unleashing of IRS Revenue Officers against business owners across the country.