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Did you know that when a business hires an employee and becomes responsible for payroll taxes, not only is the business responsible, but the owner(s) and others considered to be "responsible persons", may be personally liable to the Federal Government for the Trust Fund portion of payroll taxes?...
We are seeing a lot of taxpayers being assessed IRS penalties due to Late Filing and Late Payment of Taxes. Taxpayers often want to reduce or remove these penalties but don't know what steps to take. The two main methods are using the First Time Abatement (FTA) or Reasonable Cause Options. In ...