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with Tanya Baber

Trust Fund Recovery Penalty Basics

Learning Objectives:

  • Understand IRS compliance efforts and newly announced efforts regarding employment tax
  • Learn about the trust fund recovery penalty (TRFP) and when it can be imposed
  • Discover prevention techniques for how to keep your clients out of trouble, as well as yourself
  • Learn defense strategies for TFRP cases
  • Discover strategies to help your client resolve their employment tax issues


Course Overview

Course Details
  • Level: Beginner
  • Cost: Free
  • Field of Study: Taxes
  • Advanced Prep: None
  • Credit Type: CE & CPE
  • Credit Hours: 1
Course Description

How much is the trust fund recovery penalty? What are some ways I can become educated on this trust func recovery penalties? How much even is the trust fund recovery penalty? These are some key questions you may be asking yourself. This course gives you a great insight on how to avoid getting caught up in (TFRP's) to help maintain a well, trusted firm and keep things running smoothly.

Congress passed a law that provides for the trust fund recovery penalty (TFRP) to encourage prompt payment of withheld income and employment taxes and other taxes withheld. These taxes are called trust fund taxes because you are to actually hold the money in trust until you remit the money to the government. The IRS has gone as far as to issue new directives to punish employers that fail to do this properly. The IRS recently stated it will actively pursue many more employers for penalties at a pace we have not seen before in recent history, but what is of an even greater concern is that they are also planning on pursuing more employers on a criminal level as well. 

As a tax professional, it is imperative that you understand these rules—not only to keep your clients out of trouble but to keep yourself out of trouble too. Enroll in this basic overview course to learn what you need to know about the trust fund recovery penalty, as well as some strategies for its prevention and defense. 


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    Course Details