| One area that sometimes can cause problems for businesses is the Trust Fund Recovery Penalty (TFRP). Any person or business who fails to collect or pay income, employment, or excise taxes can be assessed penalties on the unpaid taxes. Once the penalty is assessed, the IRS can take collection action against your personal assets that could include a federal tax lien or levy (seizure) of property. Obviously the way to avoid this sort of action is to make sure that all employment taxes are collected, accounted for, and paid on time. The Esquire Group will ensure that all filings are timely and that taxes are collected accurately and paid promptly. |
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