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Form 4180 online Chattanooga Tennessee: What You Should Know
The revenue officer should also ask for information the individual is willing to provide on potential trust fund recovery from the taxpayers' accounts to help reduce the potential liability if the individual can be proven to be liable for excise and/or excise taxes. What to Expect in the Interview The revenue officer will make sure the questions are reasonable, clear-cut, and consistent with the purpose of the interview. For example, a business associate of the taxpayer's with whom he or she is working is not allowed to ask the following: Has the business ever paid or received an excise tax? Is the business aware that it may be liable of excise taxes? Is any money in any of the trust account accounts, such as a bank account, an IRA, a brokerage account, a checking account, or an investment account, involved or used for any purpose other than operating the business? Is a trust account maintained for business purposes or to meet other personal needs? If a trust bank account is maintained for the business use, must the account be regularly audited? The trust may report, to be audited or tax paid, its income and/or profits as described in section 1445. If the trust meets the above requirements, then the revenue officer may ask the trust for documentation that demonstrates the trust is in violation of section 2856, section 3061 or section 3062, depending on whether they are filing under section 3501, 3540, or 3401. Is any money involved in the trust or in a trust account required to be deposited into the trust accounts or in other account? Have you ever withdrawn, under penalty of law, any of the trust fund monies to any extent other than to deposit into a trust account? The trust may be notified that it may be liable of excise tax in accordance with section 2856, section 3061, section 3062, or section 3063 if it fails one or more of the conditions listed in section 2856, section 3618, section 4038, section 5318, section 6045, or section 6045A, as stated in the report of interview if the trust fails to satisfy some or all of these conditions.
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