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Trust Fund Recovery Penalty (TFRP) is charged when a business owner does payroll and does not transfer payroll taxes to the IRS on time. If the IRS finds the business owner to be non-compliant, they will send a letter with the penalties.
The TFRP is one of the largest penalties charged by the IRS. The IRS can and will levy on anyone who willfully fails to pay payroll taxes.
If you find yourself in such a situation, contact a professional immediately to find out what the best form of relief or appeal will work best.
Trust Fund Recovery Penalty Relief
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