Attorney Juda Gabaie discusses the Trust Fund Recovery Penalty (TFRP), a severe IRS penalty targeting business owners and employees for unpaid payroll and sales taxes in California. The episode explores the criteria for TFRP liability, including responsibility and willfulness, and the IRS’s investigative process, which may target non-executive roles like bookkeepers or receptionists. It highlights proactive strategies, such as using reputable payroll services and maintaining clear records, to avoid personal liability, emphasizing the critical role of tax defense attorneys in mitigating risks.
Key Timestamps00:00 - Show Introduction and Welcome
01:30 - Understanding the Trust Fund Recovery Penalty
05:00 - Why TFRP Is a Serious Issue
09:00 - IRS Investigation Process for TFRP
13:00 - Surprising Targets of TFRP Liability
17:00 - Importance of Individual Tax Representation
21:00 - Defending Against TFRP Liability
25:00 - Consequences of Mishandling Trust Fund Taxes
29:00 - Proactive Measures to Avoid TFRP
33:00 - Importance of Tax Attorney Guidance
37:00 - Conclusion and Call to Action
About the ShowThe Power of Tax Defense Attorneys: Tax Corner with Juda Gabaie is a podcast dedicated to empowering business owners and individuals in California with expert tax defense strategies. Featuring attorney Juda Gabaie, the show provides insights into navigating IRS penalties, payroll tax compliance, and tax dispute resolution. Through clear explanations and practical advice, the podcast helps listeners protect their finances and avoid costly tax issues.
Popular Podcasts
CrimeLess: Hillbilly Heist
It’s 1996 in rural North Carolina, and an oddball crew makes history when they pull off America’s third largest cash heist. But it’s all downhill from there. Join host Johnny Knoxville as he unspools a wild and woolly tale about a group of regular ‘ol folks who risked it all for a chance at a better life. CrimeLess: Hillbilly Heist answers the question: what would you do with 17.3 million dollars? The answer includes diamond rings, mansions, velvet Elvis paintings, plus a run for the border, murder-for-hire-plots, and FBI busts.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.