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About: Trust Fund Recovery Penalty     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:Tax113308999, within Data Space : dbpedia.org:8891 associated with source document(s)

Type: yago:WikicatWithholdingTaxesyago:Abstraction100002137yago:Charge113400798yago:IncomeTax113310230yago:Levy113308864yago:Liabilities113396054yago:Possession100032613yago:Relation100031921yago:WithholdingTax113311368yago:Tax113308999 New Facet based on Instances of this Class

In the United States, the term trust fund recovery penalty refers to a tax penalty assessed against the directors or officers of a business entity which failed to pay a required tax on behalf of its employees. The name derives from the fact that Social Security and Medicare taxes are paid into a trust fund which is used to pay out benefits under these programs.