Business tax debt — especially unpaid payroll taxes — is the most aggressively pursued IRS debt. The IRS can shut down your business, seize assets, and hold owners personally liable through the Trust Fund Recovery Penalty. Dream Financial Management resolves business tax debt since 1994.
Unpaid payroll taxes are the most dangerous business tax debt. The IRS can assess the Trust Fund Recovery Penalty (TFRP) — holding owners, officers, and even bookkeepers personally liable for the trust fund portion (employee withholdings). This pierces the corporate veil and goes after personal assets.
TFRP = 100% personal liability for withheld employee taxes.
• In-Business Trust Fund Express Installment Agreement (up to $25K, 2
years)
• Regular installment agreements for larger debts
•
Offer in Compromise for businesses
• Currently Not Collectible
status
• Penalty abatement (especially for payroll tax
penalties)
• CDP hearings to stop enforced collection
The IRS can assess the TFRP against any "responsible person" who willfully fails to collect, account for, or pay over employee payroll taxes. This means: the IRS can take your house, car, bank accounts, and retirement savings to satisfy the business's unpaid payroll taxes — even if the business is an LLC or corporation. The TFRP is not dischargeable in bankruptcy.
If you have unpaid payroll taxes, contact us immediately. This is the IRS's highest priority collection item.
The IRS moves fast on business tax debt — especially payroll. Dream Financial Management resolves business tax issues nationwide. Since 1994.
Resolve Business Tax Debt — Free