myCPE New Year Offer. Unlimited Continuing Education only @$299 $199 (Last Day) CLICK HERE to view.

Trust Fund Recovery Penalties

  • AFSP
  • CPA (US)
  • EA
  • Tax Preparer
  • CRTP
  • ERPA

This Course is Also Available in Self Study (On-Demand)

Click Here
  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Course Description

When you have employees, you withhold their Medicare and Social Security contributions from their checks, and in most cases, you also withhold some income tax. These amounts are referred to as trust fund taxes, and you are obligated to send that money to the IRS. If you fail to make those payments, the government can charge a very serious penalty called the Trust Fund Recovery Penalty.

Congress passed a law that provides for the Trust Fund Recovery Penalty (TFRP) to encourage prompt payment of withheld income and employment taxes, including social security taxes, railroad retirement taxes, or collected excise taxes. These taxes are called trust fund taxes because you actually hold the employee's money in trust until you make a federal tax deposit in that amount.

As a result of the Covid-19 pandemic, we may find many companies closing or filing for protection under Chapter 11 of the federal bankruptcy code. In a high percentage of those cases, payroll taxes may not be paid leaving the owners (and others) personally liable for the unpaid trust fund portion of those liabilities. 

This online CPE webinar covers the following key topics:

  • How to calculate the trust fund recovery penalty (TFRP)
  • How to minimize exposure to the TFRP
  • How to avoid malpractice when dealing with these volatile cases.

Click here for more webinars on | Tax Planning | Business Taxes | Tax UpdatesIRS Audit, Representation, and Resolutions |

Learning Objectives

  • To identify IRS as “just another creditor”
  • To identify ways to keep your clients out of trouble, as well as yourself.
  • To identify various defense strategies for TFRP cases.
  • To recall the rights your taxpayer may have in the collection or appeals process.
  • To discover strategies to help your client resolve their employment tax issues.

Recommended For

This IRS-Approved CE course will prove helpful for CPAs, EAs, ERPAs, AFSPs, and Other Tax Professionals engaged in advising their business clients over trust fund related matters.

Who Should Attend?

  • Accounting Firm
  • Accounting Managers
  • California Registered Tax Professional
  • CFO/Controller
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Entrepreneurial CPA
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros

Course Qualification

Webinar Qualifies For

  • 1 CE Credit of Qualified Retirement Plan Matters for Enrolled Retirement Plan Agent (Approval No. 00632-21)
  • 1 CE Credit of Qualified Retirement Plan Matters for Enrolled Retirement Plan Agent (Approval No. 00632-21)
  • 1 CE Credit of Taxes for Enrolled Agents (EA) (Approval No. GEHNZ-T-00277-20-O)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit of Federal Tax Related Matters for California Registered Tax Preparers(CRTP) (Approval No. 6273-CE-0284)
  • 1 CE Credit of Taxes for Annual Filing Season Program (AFSP)
  • 1 CE Credit of Taxes for Tax Professionals (Approval No. GEHNZ-T-00277-20-O)

Presenter

About Presenter

Larry Heinkel, LLM

Tax & Bankruptcy Attorney Tax Problem Solver

Mr. Heinkel has degrees in accounting, law and a master’s in tax law (LL.M.) (all with honors) and has been published in the Notre Dame Law Journal, the Journal of Real Estate Taxation, and The Florida Bar Journal among others. Mr. Heinkel is a nationally-known expert on tax procedures and resolution, representing people literally all over the world. Further, he is also probably one of the very top experts in discharging taxes in bankruptcy and has presented boot camps, seminars, webinars and other presentations and on this and resolution-related topics around the country. He also graciously makes himself available to consult with other professionals around the country, usually free of charge.


About Company

Tax Problem Solver

taxproblemsolver.com/

We have a team of seasoned tax professionals (attorneys, CPAs, EAs, former IRS Appeals Officer, etc.) who successfully resolve tax problems for people and companies literally worldwide.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.7

178 Ratings

Excellent

129

Very Good

44

Average

4

Poor

1

Terrible

0

HC

Herbert Cantor, CPA (US)

Jun 7th, 2021

Larry is a really good teacher. You can learn a lot in 1 hour of his programs.

LW

Lydia Washington, CPA (US)

Dec 16th, 2020

Great experience

KB

Kathryn Boone, EA

Dec 2nd, 2020

Great! Will find another one to take. Soon!

CW

Caitlin White, EA

Dec 2nd, 2020

Larry is one of my favorite presenters, he is extremely knowledgeable and his courses are very interesting

BR

Bradley Ritchey, EA

Nov 4th, 2020

Interesting presentation!

Trust Fund Recovery Penalties

$10

1 Credit

Subject Area

Taxes

Upcoming Webinars

QBO Complete Comprehensive Overview - Latest
  • 4.3
  • (35)

Jan 18, 2022 | 09:00 AM EST

IFRS Fair Value Measurement
  • 4.4
  • (7)

Jan 18, 2022 | 09:30 AM EST

The Next 401(k) Scandal
  • 4.4
  • (109)

Jan 18, 2022 | 10:00 AM EST

Understanding Credit Card Frauds
  • 4.5
  • (8)

Jan 18, 2022 | 10:00 AM EST

Accounting & Auditing in a COVID World
  • 4.5
  • (36)

Jan 18, 2022 | 10:00 AM EST

Introduction to the Estate Tax
  • 4.5
  • (15)

Jan 18, 2022 | 10:00 AM EST