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Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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If an employer indicates Trust fund portion only in the memo

Resolved Question:

If an employer indicates "Trust fund portion only" in the memo section of a check submitted for payment of payroll taxes, does that prevent the IRS from assessing the trust recovery penalty?
Submitted: 7 years ago.
Category: Tax
Expert:  Merlo replied 7 years ago.



No, of course it does not prevent the IRS from assessing any penalties which may otherwise apply.


If the payroll taxes are not paid in full when due, then penalties can be assessed. The IRS does not look at or care what you put in the memo section of a check and they are not obligated to do so. If the payroll taxes are not paid in full, penalties can still apply.


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