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What does TFR stand for?

TFR stands for Trust Fund Recovery

This definition appears rarely and is found in the following Acronym Finder categories:

  • Business, finance, etc.

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We have 103 other meanings of TFR in our Acronym Attic

Samples in periodicals archive:

Participants of the IRS Nationwide Tax Forum attended this tax conference to learn about such topics as A Taxing Matter—Retirement, Helping Your Clients Understand Their Rights, Employment Tax Issues, Issues Facing the Tax Professional and Trust Fund Recovery Penalty, and to receive hands-on tax education via workshops.
The owners of a company who had delegated payroll functions to a separate payroll company they owned but did not operate were liable for trust fund recovery penalties because they were responsible persons both before and after the withholding taxes that were the basis of the penalties accrued.
The IRS recently extended its fast track settlement program to certain exempt and government entities and announced the establishment of a two-year test of mediation and arbitration procedures for offers in compromise and trust fund recovery penalty cases under the jurisdiction of the Office of Appeals.
Completed Form 656, "Offer in Compromise," and completed Form 433-A, "Collection Information Statement for Individuals" filed by the Smiths are based on the following specific facts: The Smiths' outstanding tax liabilities are as follows: Type Year Amount Income 1990 $4,200 Income 1991 8,000 Income 1992 9,000 Trust fund recovery penalty 1990 12,500 Total $33,700 (The trust fund recovery penalty originated when John was the sole shareholder of a corporation and the corporation failed to make required payroll tax deposits.