MLchartDataset catalogue

TFRP

Term · Law · MLC-T-LAW-004903

The Trust Fund Recovery Penalty, a penalty imposed by the Internal Revenue Service (IRS) on individuals responsible for collecting, accounting for, and paying over certain federal taxes, such as payroll taxes, who willfully fail to do so. This penalty is equal to the unpaid trust fund portion of the tax. It applies to responsible persons, including business owners, officers, and employees, who have the authority to direct the payment of taxes.

Table 1. Record
IdentifierMLC-T-LAW-004903
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004903",
  "term": "TFRP",
  "field": "Law",
  "definition": "The Trust Fund Recovery Penalty, a penalty imposed by the Internal Revenue Service (IRS) on individuals responsible for collecting, accounting for, and paying over certain federal taxes, such as payroll taxes, who willfully fail to do so. This penalty is equal to the unpaid trust fund portion of the tax. It applies to responsible persons, including business owners, officers, and employees, who have the authority to direct the payment of taxes.",
  "url": "https://mlchart.com/terminology/law/tfrp/"
}

Record 5,007 of 5,441 in Law terminology (MLC-0107). Request the full dataset.