Once the IRS asserts the penalty, they may take collection action against your personal assets if you do not pay the penalty after being sent a Notice of Tax Due and Demand for Payment. For instance, they may file a Notice of Federal Tax Lien against you if you are a responsible person.
Small Business Owners: How You Can and Must Protect Your Buiness from the IRS If You Have Payroll Tax Problems

Small Business Owners:
How You Can & Must
Protect Your Buiness
from the IRS If You Have
Payroll Tax Problems

Confidential Insider Report: How to End IRS Problems Forever

Confidential Insider
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What Your Accountant and the IRS Never Told You

What Your
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How to Find the Right Professional to solve your IRS Problem in Virginia

How to Find the
Right Professional
to solve your IRS
Problem in Virginia

Elden Sodowsky provides answers for the most frequently asked questions by clients.

 


Q: Can the IRS take my personal assets to pay the Trust Fund Recovery Penalty?

A: Once the IRS asserts the penalty, they may take collection action against your personal assets if you do not pay the penalty after being sent a Notice of Tax Due and Demand for Payment. For instance, they may file a Notice of Federal Tax Lien against you if you are a responsible person.


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