Trust Fund Recovery Penalty

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In the United States, the term trust fund recovery penalty refers to a tax penalty assessed against the directors or officers of a business entity which failed to pay a required tax on behalf of its employees. [1] Common violations can come in the form of not paying Medicare and Social Security deductions. [2]

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References

  1. ↑ "trust fund recovery penalty (TFRP)". Legal Information Institute. Cornell University . Retrieved 2024-05-05.
  2. ↑ Brotman, Sam (2016-04-06). "What Is a Trust Fund Recovery Penalty (TFRP): Your Ultimate Guide". Brotman Law. Retrieved 2024-05-05.
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