You may be more surprised than anyone when you hear the allegations against your company, against your colleagues, and most especially against you. Your work had been exemplary, your ethics impeccable, and your trust in the company and its directors was unquestioning. Yet, you have received notice that the company had failed to pay payroll taxes to the IRS. After a little investigating, the company’s CEO, CFO, President, and/or Vice Presidents are nowhere to be found, and the company is bankrupt. Thus, the IRS has decided to go after you personally for the outstanding taxes.
The IRS Can Try to Seek Damages from You in Some Cases
The IRS is likely going to argue that it has the power to go after you because of the Trust Fund Recovery Penalty. The Trust Fund Recovery Penalty allows the IRS to seek the back taxes, interest, and penalties from anyone who:
- Is (or was) responsible for paying or collecting withholding taxes; and
- Willfully failed to collect or pay such taxes.
It is important to note that the IRS may satisfy the willful requirement if you should have known about the failure to pay the taxes. The government need not prove that you were malicious or had a bad intent.
You Are in Trouble – Call a Tulsa Tax Lawyer for Help Today
You may have had no knowledge of the tax fraud implemented by others at your business. Yet, you are in serious tax trouble that is threatening your family’s welfare and your financial future. Do not rely on the fact that you had no part in the tax fraud. Instead, contact an experienced Tulsa tax attorney today for advice and for the help that you need when negotiating with the IRS.
For more information, and for a FREE consultation, we encourage you to contact a tax lawyer in Tulsa today at 800-721-7054 and to read our FREE book, The Ultimate Survival Guide for IRS Problems.