Trust Fund Recovery Penalty Archives

Employee Withholdings & the 100% Penalty
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Employee Withholdings & the 100% Penalty

Employee Withholdings & the 100% Penalty

Are you a business owner with employees? Did you know that you have a duty to collect, truthfully account for and pay over your employees’ withheld income tax and their portion of FICA? If you fail to do so, you could be personally subject to a 100% penalty known as the Trust Fund Recovery Penalty [...]

By cassidy|2020-01-14T15:44:34+00:00March 15th, 2020|Employers, Trust Fund Recovery Penalty, Withholdings|0 Comments

Small Business Employee Theft: Tips for Detection and Prevention
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Small Business Employee Theft: Tips for Detection and Prevention

Small Business Employee Theft: Tips for Detection and Prevention

Small businesses are at the highest risk for employee theft or embezzlement. According to the Association of Certified Fraud Examiners (ACFE) 2018 Report to the Nations, fraud occurs 42% more often compared to larger corporations. This is both frightening and disappointing, as many small businesses place their trust in employees in accounting or financial positions. [...]

By cassidy|2020-01-14T15:18:20+00:00February 15th, 2020|Employers, Theft, Trust Fund Recovery Penalty|0 Comments