Tag: unpaid trust fund taxes
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Why Borrowing Payroll Taxes Costs More Than Any Loan
Using withheld payroll tax to cover a cash shortfall is not a loan. Penalties reach ten percent within two weeks and fifteen percent after notices, interest compounds daily, and the debt shifts to personal liability that survives bankruptcy. Understanding this cost structure before a deposit is missed preserves far more options.
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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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