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  • Brian Barto, EA

What is a Trust Fund Recovery Penalty?

We help small businesses in Winchester, VA that have payroll tax problems.

There are a number of penalties that apply when an employer fails to pay the payroll taxes. These penalties are significant and include the following:

• Failure to File: The penalty for failure to file a Form 941 or Form 940 is 5% per month, limited to 25%;

• Failure to Pay: The penalty for failing to pay your payroll taxes is 0.5% per month, limited to…[continue reading]

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