Video

  • 8 minutes

IRC Section 6672: Trust Fund Recovery Penalties

 

Learn how to avoid personally being served with IRC Section 6672 penalties.

What is IRC Section 6672? Employment taxes such as federal income withholding taxes including social security taxes withheld from employees are called trust funds because you are holding the employee’s money in trust until you deposit those funds over to the IRS. To encourage prompt payment of these funds Congress enacted the Trust Fund Recovery Penalty (TFRP). The TFRP can be assessed against any business for unpaid trust fund taxes. This video reviews what taxes the TFRP applies to, the types of appeals/claims for a TFRP, and what parties can be held responsible.

Runtime: 8 minutes

Agenda

Faculty

Debbie Cash, CPP

Debbie Cash, CPP

G&A Partners

  • Business Analyst-Implementation at G&A Partners
  • Formerly a Payroll Tax/Time and Attendance Specialist at Employer Advantage LLC
  • G&A Partners is a Professional Employer Organization (PEO) that offers payroll, human resources, benefits management, risk management, and accounting services for businesses and they recently acquired Employer Advantage LLC a former PEO
  • Has been with the organization since 2006
  • Certified Payroll Professional Certification in October 2006
  • 30+ years of experience processing payroll and payroll taxes for various different companies and professions
  • Worked as a Payroll Specialist at Missouri Southern State University from 1993 to March 2006
  • Attended the International Tax Conference in Wisconsin in 2005 and specialized in International Tax for Student Visa’s
  • Worked for Joplin R-8 School District from 1990 to 1993
  • Bachelor’s degree in general business, MSSU; associate’s degree in Accounting, MSSU
  • Can be contacted at [email protected] or 417-782-3909 ext 148

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today

Access to all training products $699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.