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If you own or manage a business with employees, there’s a harsh tax penalty that you could be at risk for paying personally. What is the Trust Fund Recovery Penalty (TFRP)? It applies to Social Security and income taxes that are withheld by a business from its employees’ wages.
The TFRP is dangerous because it applies to a broad range of actions and to a wide range of people involved in a business.
Read our blog post for a few frequently asked questions about the penalty.
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