{"id":15,"date":"2023-08-16T06:17:00","date_gmt":"2023-08-16T06:17:00","guid":{"rendered":"https:\/\/www.anchortaxrelief.com\/blog\/?p=15"},"modified":"2023-08-15T18:19:06","modified_gmt":"2023-08-15T18:19:06","slug":"payroll-taxes-whos-responsible","status":"publish","type":"post","link":"https:\/\/www.anchortaxrelief.com\/blog\/payroll-taxes-whos-responsible\/","title":{"rendered":"Payroll Taxes: Who&#8217;s Responsible?"},"content":{"rendered":"\n<pre class=\"wp-block-code\"><code><\/code><\/pre>\n\n\n\n<p>The IRS may levy a penalty, known as the trust fund recovery penalty, on individuals classified as &#8220;responsible persons.&#8221; The penalty is equal to 100% of the unpaid federal income and FICA taxes withheld from employees&#8217; pay.<\/p>\n\n\n\n<p>What this means to you&#8230;.<\/p>\n\n\n\n<p>You become personally liable for the payroll tax debt. It becomes a part of your individual 1040 tax account!  <\/p>\n\n\n\n<p>And here&#8217;s the scary part: You may only be an employee of the company, with no ownership whatsoever.<\/p>\n\n\n\n<h3>Who&#8217;s a Responsible Person?<\/h3>\n\n\n\n<p>Any person who is responsible for collecting, accounting for, and paying over withheld taxes and who willfully fails to remit those taxes to the IRS is a responsible person who can be liable for the trust fund recovery penalty. A company&#8217;s officers and employees in charge of accounting functions could fall into this category. However, the IRS will take the facts and circumstances of each individual case into consideration.<\/p>\n\n\n\n<p>The IRS states that a responsible person may be:<\/p>\n\n\n\n<ul><li>An officer or an employee of a corporation<\/li><li>A member or employee of a partnership<\/li><li>A corporate director or shareholder<\/li><li>Another person with authority and control over funds to direct their disbursement<\/li><li>Another corporation or third-party payer<\/li><li>Payroll service providers<\/li><\/ul>\n\n\n\n<p>The IRS will target any person who has significant influence over whether certain bills or creditors should be paid or is responsible for day-to-day financial management.<\/p>\n\n\n\n<h3>Working With the IRS<\/h3>\n\n\n\n<p>If your responsibilities make you a &#8220;responsible person,&#8221; then you must make certain that all payroll taxes are being correctly withheld and remitted in a timely manner. <\/p>\n\n\n\n<p>If you need help dealing with the IRS on payroll tax debt, click the link to schedule a consultation. It really is possible to put your IRS problem behind you:  https:\/\/www.anchortaxrelief.com\/consultation.htm<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The IRS may levy a penalty, known as the trust fund recovery penalty, on individuals classified as &#8220;responsible persons.&#8221; The penalty is equal to 100% of the unpaid federal income and FICA taxes withheld from employees&#8217; pay. What this means to you&#8230;. You become personally liable for the payroll tax debt. It becomes a part [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":17,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":""},"categories":[4],"tags":[5],"_links":{"self":[{"href":"https:\/\/www.anchortaxrelief.com\/blog\/wp-json\/wp\/v2\/posts\/15"}],"collection":[{"href":"https:\/\/www.anchortaxrelief.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.anchortaxrelief.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.anchortaxrelief.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.anchortaxrelief.com\/blog\/wp-json\/wp\/v2\/comments?post=15"}],"version-history":[{"count":3,"href":"https:\/\/www.anchortaxrelief.com\/blog\/wp-json\/wp\/v2\/posts\/15\/revisions"}],"predecessor-version":[{"id":19,"href":"https:\/\/www.anchortaxrelief.com\/blog\/wp-json\/wp\/v2\/posts\/15\/revisions\/19"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.anchortaxrelief.com\/blog\/wp-json\/wp\/v2\/media\/17"}],"wp:attachment":[{"href":"https:\/\/www.anchortaxrelief.com\/blog\/wp-json\/wp\/v2\/media?parent=15"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.anchortaxrelief.com\/blog\/wp-json\/wp\/v2\/categories?post=15"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.anchortaxrelief.com\/blog\/wp-json\/wp\/v2\/tags?post=15"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}