Understand Defending the Trust Fund Recovery Penalty- Form 843 & IRC Section 6672
EVENT DATE:
PRESENTER(s): Jeffrey A. Schneider
To understand when a responsible party receives an IRS notice that they owe payroll taxes for company that they worked for, even if they are not associated with that employer any longer. How do you defend yourself when this notice comes in?
Instead of just appealing the penalty, you can actively request its removal by filing IRS Form 843 (Claim for Refund and Request for Abatement). This powerful—but often overlooked—tool can reverse the TFRP, if you meet the right criteria and present a compelling case. Trust Fund Recovery Penalty Solutions available to resolve the tax liability for both the business and the individual(s) held responsible. And if the IRS is attempting to assess the Trust Fund to an employee of the business that should not be held personally responsible, you may submit a Protest of the Proposed Trust Fund Assessment.
Session Highlights:
- Understand IRS Civil Penalty 6672 and 6721
- How do I request an abatement (Form 843)
- Request and review IRS records through FOIA.
- Gather evidence to rebut the Trust Fund Recovery Penalty (TFRP).
- Determine the applicable criteria when using Form 843 (Request for Refund) for removing the Trust Fund Recovery Penalty (TFRP).
- Identify what to expect from the IRS as they respond to a Request for Refund.
- What causes the problem in the first place and how to defend it?
- IRS Procedures with regards to the penalty
- Establish that the Individual was a responsible person for persons of this civil penalty
- The Nuremberg Defense
- Was there wilfulness and establishing reasonable cause
- Gathering Evaluating the documentation
- Appeal rights on an adverse decision
Credits and Other information:
- Recommended CPE credit – 2.0
- Recommended field of study – Taxes
- Session Prerequisites and preparation: None
- Session learning level: Basic
- Location: Virtual/Online
- Delivery method: Group Internet Based
- NASBA Sponsor: 146439
- IRS Course ID: PJGWS
- Attendance Requirement: Yes
- Session Duration: 2 Hours
- Case Studies and Live Q&A session with speaker
- PowerPoint presentation for reference
Who Will Benefit:
- Certified Public Accountants (CPAs)
- Enrolled Agents (EAs)
- Tax Professionals
- Attorneys
- Finance professionals
- Financial planners
- Accounting Personnel
- Other professionals involved in tax preparation or planning for small businesses
Jeffrey has been in the field of taxation for about 40 years working for multi-national companies and has been in private practice full time since 1999. He’s been a member of National Association of Enrolled Agents (NAEA), the Florida Society of Enrolled Agents (FSEA), and The American Society of Tax Problem Solvers (ASTPS). He is a past president of the Florida Society of Enrolled Agents and is a former 2 term President of both, the Treasure Coast and Palm Beach Chapters of the FSEA. He was a two-term member of NAEA’s National Board of Directors.
He was the 2016 & 2017 NAEA Awards Committee Chair, a founding member of the NAEA Implementation Task Force on Education (commonly known as Educating America), co-chair of the NAEA Membership Committee, a member of the 2015/2016 NTPI Planning Committee and a past five term Chair of the FSEA Education Committee.
He won the 2018 Top Practitioner award from the American Society of Tax Problem Solvers. He was the 2014 NAEA Excellence in Education Award winner and the 2014 Mentor of the Year and 2015, 2016, 2018 Excellence in Education Award given by the FSEA.
