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