Don’t Cross IRS On Payroll Taxes

It’s challenging to escape paying payroll fees. When you withhold tax money from employees but neglect to give it to the IRS, they will come once you. Quite rightly, the IRS views it as government money, a trust fund belonging to the IRS. Inside a cash-strapped business, keeping the lighting on or the warehouse stocked can seem more important.

It may be appealing to think you can always pay the IRS later. But these nagging problems have a way of snowballing, so it’s best to keep payroll taxes current at all times. Consider using a payroll service that directly pays the money over to the IRS. One more justification to be cautious?

Personal Liability. Business owners and other “responsible individuals” have personal liability for these taxes and excuses are hardly ever accepted. In Colosimo v. U.S., the Eighth Circuit Court of Appeals refused to consider sympathy on an organization owner who stated he was duped by his bookkeeper. More recently, in Jenkins v. U.S., the Court of Federal Claims held almost all owner and CEO of the publishing company accountable for payroll fees. Although he didn’t exercise day-to-day control, the authority was experienced by him to do so and he understood payroll fees were unpaid.

You can be liable even if have no knowledge of the IRS is not being paid. See What Is The Trust Fund Recovery Penalty? When you have signature authority but don’t exercise it, that can be to result in liability enough. Factual nuances matter, so one person gets stuck while another gets off scot-free. The IRS makes an assessment against every officer often, watching them start each other.

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For example, in Johnson v. U.S., the IRS went after two employees for a casino’s payroll fees. Brian Toms was the secretary/treasurer responsible for making tax deposits and electronic transfers for payroll taxes. Bonnie Johnson was the CFO but had not been a member of the panel, nor an official or shareholder.

She was authorized to pay vendors in the morning before Brian arrived, but paid vendors only once Brian instructed otherwise. Brian happened responsible for the taxes but Bonnie was not. She acquired check-signing specialist and prepared and agreed upon tax returns even. However, she didn’t have control of the payroll, could not authorize tax deposits, and didn’t have authority to sign contracts.

The court found that she did not have the power to pay the IRS without authorization from Brian. Huge numbers of businesses every year get captured in this no-win situation. See Personal Tax Liability WHENEVER A Business Goes Under. Disputes are costly nor go well often. Be cautious out there. Robert W. Wood practices legislation with Wood LLP, in SAN FRANCISCO BAY AREA. The author of more than 30 books, including Taxation of Damage Awards & Settlement Payments (4th Ed.

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