Payroll (941) Taxes
Lawyer for Payroll Taxes in Oklahoma City
We Handle Resolution of IRS Payroll 941 and Oklahoma Tax Commission Withholding Tax Debts for Our Clients.
Contact Carver Law Offices for Professional Representation.
Trust Fund Recovery Penalty (TFRP) Statute
In an attempt to encourage prompt payroll tax payments, the Trust Fund Recovery Penalty Statute was enacted. This allows the IRS to transfer the tax liability from a company to an individual or individuals, resulting in the company remaining liable for the entirety of the payroll tax liability and the individual(s) being liable for the trust fund portion of such payroll tax liability. Essentially, if you are responsible for your company’s payroll taxes, you could be facing serious consequences for failing to withhold and/or failing to remit any of the funds.
Some of the consequences associated with payroll tax penalties can include:
- Federal criminal charges against persons responsible for TFRP
- Closure of the business and sale of business assets to satisfy tax debts
- Collection efforts against responsible parties assessed the TFRP, including seizure and sale of personal assets to satisfy TFRP debts
If you are unsure whether you could be subject to the Trust Fund Recovery Penalty (TFRP) Statute, consider the following:
- Was or am I responsible for collecting payroll taxes?
- Was or am I the one responsible for sending the trust fund taxes to the IRS?
- Did I actually fail to send in any or all of the trust fund taxes in time or at all?
Get Help from Experienced Oklahoma City Tax Lawyers
Our diligent team of lawyers has more than 30 years of experience. We have successfully handled thousands of cases, and we believe our knowledge and personal attention can help you next. When you work with our Oklahoma City tax lawyer, you speak with Ms. Carver directly. You can trust that we are a firm located in Oklahoma City, not at the end of some random 1-800 number.
Contact Carver Law Office, PLLC today at (405) 561-3467 for a Free Consultation.
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