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By Michael S. Anderson of Anderson Tax Law logo for Arizona tax attorney Michael S. Anderson P.C.
  • IRS Trust Fund Recovery Penalty – 3 Reasons Why It Can Be “Scary”

    The IRS Trust Fund Recovery Penalty The Phrase sounds scary and complex. In theory, it isn’t that complex. It can be scary though and especially for the small business owner who is struggling to make a profit each month. First…Why it isn’t that complex The basic idea behind the penalty is that Congress wanted to…

  • Trust Fund Recovery Penalty: Responsible for making sure payroll tax gets paid by the business? You need to be aware of this.

    Congress passed a law a long time ago that was meant to “encourage” employers to pay the income and employment tax (social security and medicare) they collect from employees’ paychecks. This law provides for a penalty to be assessed if the tax collected isn’t paid. That penalty is called an IRS Trust Fund Recovery Penalty….