Romano-Murphy v. Commissioner of IRS (11th Cir. 2016): Individual Was Personally Liable for Unpaid Trust Fund Recovery Penalties

The Court of Appeals for the Eleventh Circuit affirmed a district court’s judgment that an individual was personally liable for trust fund recovery penalties (TFRP) under Code Sec. 6672 . The taxpayer was the president and sole shareholder of a company. The taxpayer retained the services of a treasurer and accountant who prepared and signed the company’s quarterly tax returns and paid over any taxes that were due to the government.

To access the summary: Romano-Murphy v. Commissioner of IRS (11th Cir. 2016): Individual Was Personally Liable for Unpaid Trust Fund Recovery Penalties

Posted by Jessica Ji, Associate Editor, Wealth Strategies Journal.

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