Video instructions and help with filling out and completing Will Form 843 Allocating

Instructions and Help about Will Form 843 Allocating

Hello I'm Alan Goldstein and I'm Peter Gonzales and we're here to let you know that we can help you as always regardless of where you live whether you're in Hawaii or whether you're in China Japan and you have a US tax issue we can help you call us at 786 5922 476 today we're going to talk to you about a trust fund recovery penalty TFR p it's a it's a delicate area and there's a lot of issues involved so we're trying to keep it as brief as possible in a nutshell what that means is that you have a corporation you have some sort of company and you didn't pay the payroll taxes it doesn't matter why there's only certain reasons that will relieve you of your duties but generally you're not gonna be relieved of your duties that you had to follow the employees access you didn't file it doesn't matter what you did with the money the point is you didn't file it and now because you're an officer or what they deem someone responsible it doesn't have to be a corporate officer now they make you or several people personally liable for this balance so basically what that means is that if you all it's a five ten thousand dollars they're going to turn around and make you personally liable for that balance so now you as a person will hold the money cuz ppl i have a corporation i forgot to pay my payroll taxes how does the IRS know that I didn't mean people that well there are several ways that they know how one of them being that you didn't file your your quarterly return or it was an amount reporting in other words you paid an amount to the IRS for the quarter but at the end of the quarter you failed to follow your return and that's usually how they know so then it's very important that if somebody usually a revenue officer is threatening you with a trust fund recovery penalty to hear those words trust fund recovered penalty recovery penalty TF barking those are very serious matters because what that means is that lets say you old your company or a company you work for doesn't necessarily mean that you own they all fifty thousand dollars for taxes payroll taxes now you personally are going to all those fifty thousand dollars so you mean you mean that payroll tax the payroll tax amount or your trust or what you are interested with to pay the government absolutely because of your position you're entrusted to pay that amount and you did it so now you're responsible for it they look at it as the equivalent of theft so it's a very serious matter so we look forward to helping you with your trust fund recovery penalty issues call us at seven eight six five nine two two four seven six seven eight six five nine two two 476 you