To encourage prompt payment of withheld income and employment taxes, including social security taxes, railroad retirement taxes, or collected excise taxes, Congress passed a law that provides for the Trust Fund Recovery Penalty.
The Internal Revenue Service has 10 years to collect outstanding tax liabilities, from the date assessed. The 10-year mark is calculated from the day a tax liability has been finalized. A tax liability can be finalized in a number of ways. It could be a balance due on a tax return, an assessment from an audit, or a proposed assessment that has become final.
Direct Tax Relief is a tax debt resolution company that assists individuals and small businesses with their IRS tax problems as well as State tax problems. Our firm of experienced Tax Attorneys, certified tax preparers, tax resolution specialists, and tax consultants specialize in providing IRS tax relief across the country in all 50 states.
