Employers that withhold taxes from employee wages but don’t pay them over to the IRS may face a penalty of 100% of the unpaid tax. The Trust Fund Recovery Penalty (TFRP) can be assessed personally against “responsible” parties. In one case, a Maryland man owned two restaurants and a property management company. For 26 months, he failed to pay taxes withheld from over 100 employees. Combined with a previous assessment of a TFRP, the total tax loss to the IRS was over $1.7 million. He pled guilty in U.S. District Court and awaits sentencing in March 2024, where he faces up to five years in prison, plus monetary restitution and penalties. To read the press release: https://bit.ly/3TqlJna. Questions? Contact the Cg team. © 2023