QUESTION
What can we do if we owe business and employee taxes?
Asked on Jan 03rd, 2011 on Taxation - California
More details to this question:
Business taxes and empoyee taxes not paid by a business that was incorporated and is over ten years old is the principal officers reliable or even still due.
3 ANSWERS
Business Litigation Attorney serving Columbus, OH
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E. Ray Critchett, LLC
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Generally, a tax attorney or other specialized professional will be able to help you with these matters. The answer will depend on whether or not returns were filed as well as on several other factors. You may contact our office to schedule an appointment if you have further questions or if you need assistance with this issue. You can also schedule an appointment or obtain additional information at. Thank you.
Answered on Nov 27th, 2012 at 11:50 AM
Chapter 7 Bankruptcy Attorney serving Lisle, IL
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Mankus & Marchan, Ltd.
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IRS can assess the trust fund portion of the unpaid payroll taxes against a "responsible official" of the corporation. If and when it is assessed, IRS has 10 years from the date of assessment to pursue collection of the assessed taxes, unless the 10 year collection statute is extended by one of several exceptions. You should request a transcript of the account from IRS and consult with a tax attorney.
Answered on Jan 08th, 2011 at 8:28 AM
Bruce Givner
he principal officer is probably liable. The principal officer should hire a competent tax litigator as soon as possible.
Answered on Jan 04th, 2011 at 8:13 PM