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sanction

What is a trust fund penalty & How to Settle it?

November 3, 2022 by pandey
What is a trust fund penalty & How to Settle it

A tax trust penalty is a sanction from the IRS for not remitting the employee’s fund entrusted to your care. As an employer, the IRS requires you to withhold a part of your employee’s wages to pay income taxes, Social Security, and Medicare taxes. You get penalized by the IRS if you withhold income tax, … Read more

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