Employment Taxes and Trust Funds

The trust fund portion of payroll taxes is the employee withholdings, including income taxes, Social Security, and Medicare. The withheld amounts constitute a fund a company holds in trust for the government. 

The IRS takes non-payment of these taxes very seriously. Their view is that the company is taking money from the government. The tax code can make individuals personally liable if they are responsible for its collection and payment and the failure to collect and pay is willful. 

The tax professionals at Advantage Tax Relief Inc can represent you in IRS trust fund recovery actions. Our tax professionals will also investigate obtaining IRS status 63. This status is available if your business is able to enter into an installment agreement for repayment of the payroll taxes.

If the business in question remains in good standing, the IRS may delay or even forego assessing and collecting from responsible individuals. Don't stress yourself out over IRS and tax issues. Let our dedicated team help you. Contact us today and receive a free consultation.