Trust Fund Recovery PEnalty Archives - John R. Dundon II, Enrolled Agent
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Trust Fund Recovery PEnalty Tag

Here are 5 things I learned through experience regarding TFRP: 1. An IRS Revenue Officer makes a determination to "assess" or "not assess" the Trust Fund Recovery Penalty (TFRP). Bankruptcy does not stop the Assessment Statute even though it can stop the Collection effort. One of...

Shareholder Timothy McCloskey was assessed a trust fund penalty due to an unfortunate problem he had with his trusted bookkeeper and chief financial officer, Kathleen Lawson. On September 1, 2004, Kathleen left Timothy an apologetic letter of resignation. Upon reading it, Timothy knew that she...

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