You are required to pay penalties for undeposited or unpaid employment taxes, and for late payroll tax returns. The IRS will calculate separate penalty for each type of delinquency, and then add up the penalty for each and combine them to determine the total amount. Liability and negligence penalty for taxes not withheld at all. […]
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US taxation of Foreign Trusts
A trust is a fiduciary arrangement that allows a third party, or trustee, to hold properties on behalf of a beneficiary or beneficiaries. Trusts allow for the ownership of certain assets to be transferred from the grantor (one who creates the trust and funds it with assets) and controlled by a trustee for the benefit of […]