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Tax Liability Risk Assessment Report

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Check out our Lender Tax Liability Assessment Report Sample

Tax Liability Risk Assessment Report

 

Our Tax Liability Risk Assessment (TLRA) report is broken down into the following areas;

  • Summary and Risk Score
  • Liabilities
  • Outstanding Returns/Forms
  • Unused Deposits
  • Compliance Requirements
  • Risk Score Key

 

Summary and Risk Score

The Summary and Risk Assessment section provides lenders a quick assessment of the risk (both current and future) in funding a borrower. The score key is listed on the last page of the report. The details and the reasons for the risk score are outlined in the following sections.

 


 

 

 

 

 

 

 

 

 

Liabilities

The liabilities section provides a listing of any outstanding liabilities.  The report lists if an outstanding balance is currently subject to a lien and any debt for which a lien has NOT YET been filed (very important).  This section also lists any debt that has been assessed by the Trust Fund Recovery Penalty.  The IRS assesses a Trust Fund Recovery Penalty against a Responsible Party for payroll tax debts.  This means that the responsible party, (likely the owner) has personal liability for the debt.

 


 

 

 

 

 

 

 

 

 

 

Outstanding Returns/Forms

The Outstanding Returns/Forms section indicates any outstanding returns and forms which could lead to additional penalties and/or assessments.

 

 


 

 

 

 

Unused Deposits

The Unused Deposits section indicates any unapplied deposits which can be used to resolve an outstanding balance.

 


 

 

 

 

 

 

 

Compliance Requirements

The Compliance Requirements section indicates the requirement(s) to obtain an "In Compliance" status with the IRS.  The "In Compliance" status is required before the IRS will consider any resolution options.  This will give you an idea of the items required before your borrower can seek resolution options.

 


 

 

 

 

 

 

 

 

Risk Score Key

The Risk Score Key provides the key used to provide the risk score.

 

 

 

 

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