TFRP (Trust Fund Recovery Penalty)

This is what the IRS slaps you with if you as an employee willfully fail to withhold or pay employment taxes. The amount of the penalty is equal to the unpaid income taxes, plus the employee’s portion of the withheld FICA taxes. Aka you’ll pay way more than if you had just withheld taxes properly in the first place.

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2017-12-13T19:57:43+00:00

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