Don't treat the IRS as your banker1 min read
When cash flow is tight, you may be tempted to pay your suppliers first and your payroll taxes last. The IRS will take steps to minimize the liability as quickly as possible. They also have a powerful weapon available to collect such taxes. Whether or not you own the company, you could be determined to be a “responsible person” held personally liable for 100% of any payroll tax deficiency. For help with this or any other tax isssue, call the team at Simons Bitzer at 317-782-3070.
By Simons Bitzer
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