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375 North Main Street Suite A-5

Williamstown NJ 08094

(856) 226-9524

mike@pinkharbor.com

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during tax season

IRS TRUST FUND
RECOVERY PENALTY

The IRS Trust Fund Recovery Penalty (TFRP) is a significant penalty for unpaid trust fund taxes, including withheld income taxes and employee Social Security contributions.
If you are facing a TFRP assessment, Pink Harbor, CPA is here to help you navigate the process, understand your trust fund tax liability, and protect your financial future.
Trust our expertise to guide you through resolving these complex IRS matters with confidence.

IRS tax forms with a legal gavel on top, symbolizing authority and professionalism, with a soft-focus lighthouse in the background representing trust and support. The Pink Harbor, CPA logo is subtly integrated into the design.

What Is A Trust Fund Recovery Penalty Responsible Person? Who Can Be Held Liable For The TFRP?

A Trust Fund Recovery Penalty responsible person is someone who has control over the business’s financial affairs and decision-making, especially regarding the payment of taxes.

This person can include officers, directors, or employees. The IRM 5.7.3.3 defines responsibility broadly to encompass anyone who has the authority to direct the use of funds.

💡 What Other Types of IRS Tax Resolution Options Are There?

Pink Harbor, CPA offers a variety of IRS tax resolution services designed to help you manage and resolve tax issues. Below are some of the most effective solutions available:

✔️ IRS Offer-in-CompromiseSettle your tax debt for less than the full amount owed, based on your financial situation.
✔️ IRS Installment PlansSpread out your tax payments over time with an installment agreement, making it easier to pay off your debt.
✔️ Filing Back Taxes – Tax ComplianceEnsure compliance by filing past-due tax returns and addressing penalties for late filing.
✔️ IRS Innocent Spouse ReliefAvoid liability for tax debt if your spouse is solely responsible for incorrect or fraudulent reporting.
✔️ IRS Injured Spouse ReliefReclaim your share of a tax refund that was applied to your spouse’s past debts, such as child support or student loans.
✔️ IRS Penalty & Interest AbatementReduce or eliminate IRS penalties and interest if you can prove reasonable cause for late payments or filings.
✔️ IRS Currently Not Collectible StatusTemporarily delay IRS collection activities if you are unable to pay your tax debt due to financial hardship.

🔧 What Types of IRS Tax Problems Can Pink Harbor, CPA Help Me With?

Pink Harbor, CPA provides expert help to resolve a wide range of tax issues. Some of the most common problems we can assist with include:

🛡️ IRS Audit RepresentationGet professional representation during an IRS audit to ensure your rights are protected and you receive fair treatment.
🛡️ IRS Lien WithdrawalRemove a tax lien placed on your property and restore your financial standing with the IRS.
🛡️ IRS Levy ReleaseStop the IRS from seizing your assets, such as bank accounts or wages, to pay off tax debt.
🛡️ IRS Wage Garnishment ReleaseProtect your paycheck by stopping or reducing wage garnishment by the IRS.
🛡️ IRS Trust Fund Recovery ReliefResolve tax issues related to unpaid payroll taxes or trust fund penalties, often incurred by business owners.