Page 27 - OIC Guide

Trust Fund

Taxes

- If your business owes liabilities
that include trust fund taxes,

the IRS may hold responsible
individuals liable for the trust

fund portion of the tax
pursuant to applicable law.
- Trust fund taxes are the money

withheld from an employee's
wages, such as income tax, Trust Fund

Social Security, and Medicare
taxes. Taxes
- If the IRS accepts an offer from

an employer for a portion of
the trust fund tax liability, the

remainder of the trust fund
taxes may be collected from
the responsible parties. - However, if you are

- You are not eligible for submitting the offer as
consideration of an offer unless a victim of payroll

the trust fund portion of the service provider fraud
tax is paid, or the IRS has made

the Trust Fund Recovery or failure, the Trust
Penalty determination(s) on all Fund Recovery Penalty
potentially responsible assessment discussed

individual(s).
above is not required

prior to submitting the

offer.