Newsletter
July 2010 -
Trust Fund Recovery Penalties
Topic Description: The collection and withholding of sales and income taxes by a business creates a pool of tax monies held in trust for the State of Illinois. Taxes held in trust (or “trust fund” taxes) can include any Illinois tax collected or required to be collected by a business that must be paid to the Illinois Department of Revenue (“Department”).
Authors: David P. Dorner
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