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Sponsored by Lorman Education
Product ID: 405163EAU
 
Credit & Course Provided by:

Avoiding, Reducing, and Mitigating Payroll Tax Penalties

OnDemand Webinar (89 minutes)

Learn how to reduce penalties and interest imposed by reducing employment taxes in the first place, as well as the defenses available to both late payment, and late filing of payroll tax returns.The IRS imposes multiple penalties when errors are made on payroll tax returns, if payroll tax returns are filed late, or tax deposits aren't made on time. Penalties can also stem from errors in classifying workers as independent contractors who are actually employees. In the case of nonpayment of payroll taxes, the IRS can and will pursue responsible officers including corporate officers, shareholders, and directors and in some cases even CPAs, and bookkeepers. Learn how to reduce penalties and interest imposed by reducing employment taxes in the first place, as well as the defenses available to both late payment, and late filing of payroll tax returns. We will discuss various programs offered by the IRS to eliminate interest, penalties and taxes where worker classification errors were made on the original payroll tax returns. We will also discuss various IRS procedures to dispute any penalties that have been imposed.

Authors

Dennis Brager, Brager Tax Law Group Fran Obeid, MFO LAW, P.C.

Agenda

The Stakes

• Failure to Deposit Penalty

• Failure to Pay Penalty

• Late Filing Penalty

• Interest

• Personal Liability

• Failure to File Correct Information Returns

• Failure to Furnish Correct Payee Statement

• Criminal Prosecution of Employment Tax Cases

Reduction of Penalties by Reducing the Number of Individuals Treated as Employees

• Classification Issues

• Common Law

• Safe Harbor Rules

Reduction of Tax and Penalty Through IRS Programs

• Classification Settlement Program

• Voluntary Classification Settlement Program

• First Time Abate Procedure

• Voluntary Disclosure

Reasonable Cause as a Defense

• Lack of Funds

• Embezzlement by Employees

• Embezzlement or Nonpayment by Payroll Company

• Reliance on Professional Advice

Reduced Rates for Calculating the Amount of Tax, Interest and Penalty Paid

• Internal Revenue Code Section 6205--Interest Free Adjustments

• Internal Revenue Code Sections 3402(D) and 6521 - Worker Offsets

The Trust Fund Recovery Penalty

• Who Is Liable

• Rights of Indemnity

• Defenses

Procedures for Disputing Penalties

• Requests for Abatement

• Collection Due Process Hearings

• Appeals Hearings

• Lawsuits

Additional Formats

Audio & Reference ManualMore Info
MP3 DownloadMore Info