Resolving IRS Payroll Tax Debts (941 Liabilities)

The majority of federal tax liens filed, and the majority of monies owed to the IRS, are made up of payroll taxes. In addition, because of the fact that payroll tax deposits fund the day to day operations of the federal government, these tax liabilities are the highest enforcement priority for the SB/SE Collection Field Function (CFF).

In this video, you’ll learn the basics of resolving 941 tax debts. We will cover 941-specific penalties, resolution options specific to only this tax type, Appeals options, and a brief overview of the Trust Fund Recovery Penalty (TFRP).

Payroll tax liabilities represent the biggest opportunity for growth in your tax resolution practice. Learning the ins and outs of representing these lucrative clients can create a significant boost to your bottom line.

Note: This video was recorded on March 17, 2015 and therefore reflects tax code and IRS procedures in effect at the time. This webinar replay is not eligible for CPE credit.

Unedited Transcript

Note: This is a raw, unedited transcript of the recording that was produced with an automated transcription tool, not a human transcriptionist. It’s provided merely for reference and to help you find specific sections of the video you might want to jump to.

Today is March 17th, 2015, and I’d like to welcome you to this webinar on resolving 941 tax debts. My name is Jason Bowman from tax marketing And for the next 15 minutes, we’re going to be discussing the special situations involved in resolving 941 tax liabilities. Why these abilities are such a huge enforcement priority for the IRS and exactly how you can go about helping your clients with these employment tax problems. So we’re also assessing some specific penalties and some appeals options. And of course we cannot discuss the 941 landscape without also talking about the trust fund recovery penalty. The trust fund recovery penalty itself as a topic worthy of, of, of an hour or two of its own. But again, it’s, it’s impossible to discuss the employment tax liability resolution without delving into the, the trust fund world. So we will be covering that. There are, there are a lot of trust fund items that are outside the scope of specifically what I’m going to be talking about today. And so in the future, I will be doing another webinar specifically on trust fund issues, because there’s just so much to cover within that.… Continue reading