The answer to this question depends on the circumstances. Assuming the business is no longer in operation, you should wait until the Trust Fund Recovery Penalty (“TFRP”) has been assessed to the “Responsible Person/s” in the form of Civil Penalty and negotiate either an installment agreement or Offer in Compromise based not upon what is owed but rather how much the taxpayer’s are able to pay. If the business was a sole proprietorship, the entire liability will be assessed to the individual rather than just the Civil Penalty portion.