What is the IRS Assessment Statute for the Trust Fund Recovery Penalty? A Ohio Tax Lawyer Explains

When a business owes payroll taxes (941 or employment taxes) a portion of these taxes known as the “Trust Fund” can be assessed to the individual business owner or owners. That being said, how long does the IRS to assess the responsible individuals? The IRS has 3 years from the following April 15th from when the 941 return was filed. Thus, if a taxpayer filed their 2nd Q 941 return on July 20, 2026, the IRS would have until April 15, 2030 to propose the assessment of the trust fund amount to any individual. If your business owes payroll taxes to the IRS or you have been contacted by the IRS regarding your potential responsibility for the trust fund liability, it is highly recommended you discuss the situation and facts with a tax attorney.

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