Tag: Form 4180 interview
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The IRS Can Hold Business Owners Personally Responsible
Business owners often assume payroll tax liability ends when a role changes or a business closes. It does not. The IRS reconciles deposits separately from filings and can interview potentially responsible parties years later, when records and memory have faded, making documentation of your involvement and its end date essential.
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What Every Business Owner Needs to Know About the Trust Fund Recovery Penalty
A proposed Trust Fund Recovery Penalty starts a strict sixty-day response window. Business owners who miss it lose the chance to present facts before the IRS assesses the penalty and moves into collection. Records of who controlled disbursements, not intent, usually decide who ends up personally liable.
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