Tax Defense Lawyer Insights on IRS Payroll Tax Liability
Payroll taxes are treated differently from other types of business debts. In other cases, the business owner is generally not held personally liable for the debts of their business, provided that they have chosen the proper form of incorporation. However, when payroll taxes are involved, the IRS treats a failure to withhold and pay far more seriously. The business owner can be personally liable for debts associated with unpaid payroll taxes. Who may be held liable for TFRP? Each business owner and all responsible persons (officials of the business and all those IRS determines have significant control over the company’s finances and its payroll collecting activities) may be held liable for TFRP. If you are a business owner (or an official with significant control over the company’s finances and its payroll collecting activities) and you have questions about payroll tax issues or if the IRS is claiming that you owe a substantial amount of money for TFRP, you need legal help from a ...