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Taxes - Corporate Officer Liability Frequently Asked Questions

    https://www.michigan.gov/taxes/0,4676,7-238-74531_43515-195110--,00.html
    Corporate Officer Liability (COL) refers to holding an individual (an officer, member, partner etc.,) of a corporation personally liable for unpaid tax debts accrued by a corporation. When a corporation fails to file returns or pay taxes due, the Michigan Department of Treasury, Office of Collections, will attempt to collect the debt from any individual who the Department has identified as being an officer with responsibility …

Reminder that Officers Can Be Held Responsible For ...

    https://www.dykema.com/resources-alerts-officers-can-be-held-responsible-for-taxes_6-2012.html
    Jun 20, 2012 · Recent Decisions Serve as a Reminder that Officers Can Be Held Responsible for Corporate or LLC Trust Fund Taxes. June 20, 2012. Recently, the United States Courts of Appeals for the Federal Circuit and the Tenth Circuit ruled that chief executive officers (CEOs) were responsible persons liable for the trust fund recovery penalty under Section 6672 of the Internal Revenue Code …

Officers of a Company can be Personally Liable for the ...

    https://thecorpsecblog.com/2013/07/08/officers-of-a-company-can-be-personally-liable-for-the-companys-failure-to-collect-or-remit-sales-taxes/
    Jul 08, 2013 · The regulation further states that “ [g]enerally, a person who is authorized to sign a corporation’s tax returns or who is responsible for maintaining the corporate books, or who is responsible for the corporation’s management, is under a duty to act.”Estimated Reading Time: 6 mins

Who Signs the Federal Tax Return of a Corporation? Your ...

    https://yourbusiness.azcentral.com/signs-federal-tax-return-corporation-8812.html
    May 07, 2018 · According to the Internal Revenue Service, that responsibility falls to a corporate officer. Corporate Officers The IRS's instructions for Form 1120, the standard corporate income tax …

Corporate Officer Duties: Everything You Need to Know

    https://www.upcounsel.com/corporate-officer-duties
    Corporate officer duties will vary depending on the type of officer. Large companies may have tens of thousands of employees who keep it functioning profitably and efficiently. At the very head, however, are a handful of officers who meet regularly to oversee all of the activities of the corporation.Estimated Reading Time: 5 mins

Shareholder Liability For Corporate Income Tax? Tax Law ...

    https://www.taxlawforchb.com/2017/02/shareholder-liability-for-corporate-income-tax/
    Feb 06, 2017 · When these taxes are not collected or are not remitted by the taxpayer, the IRS is generally authorized to “collect the tax” from any “responsible person” who was required to collect, truthfully account for, or pay over any tax withheld but failed to do so. In the case of a corporate taxpayer, this may include an officer or employee of the corporation who, as such, is under a duty to collect, account for, or pay over the withheld tax.

Officers' Personal Liability for Their Company's Unpaid Taxes

    https://www.forbes.com/sites/stephendunn/2011/11/13/officers-personal-liability-for-their-companys-unpaid-taxes/
    Nov 14, 2011 · States have parallel schemes for holding officers personally liable for their business’ undeposited taxes. Michigan law, for example, provides that any Michigan tax which a …Estimated Reading Time: 10 mins

Corporate Officers’ Trust Fund Tax Responsibility (Part I ...

    http://www.rsmlawpllc.com/schiffmann-v-united-states-and-corporate-officers-trust-fund-tax-responsibility-part-i/
    Mar 10, 2016 · While this may be harsh and contrary to the principle of separate corporate identity, the underlying rationale is that corporate officers who have the power and authority to pay required taxes when the corporation has enough funds must be held responsible for such failure to act.

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