Jail Time for Failure to Pay Payroll Taxes

Figures from 2010 show that 83 percent of personal tax liability convictions forced the offender to serve jail time, and the average sentence was two years. It is also important to note that these figures were all-time highs, which suggests the IRS is becoming even...

You Have Personal Liability for Payroll Taxes

All responsible persons (usually the owner of the business) have personal liability for payroll taxes, and excuses are rarely accepted. For example, you can’t claim you have been duped by your bookkeeper, because they don’t have personal liability. Charles Colosimo...

What Are the Due Dates for Employment Taxes Owed?

Employers must report wages, tips, and other forms of compensation paid to employees throughout the year. This is done by filing the correct forms. There are several major dates on the calendar when it comes to employers filing taxes: Jan. 31: Deadline for filing...