Your Company Owes Employment Taxes- But, the IRS Wants Your Personal Money
If you have a business that is run as a Corporation or a Limited Liability Company, you know that the business is supposed to pay employment taxes every month.
Does the fact that you are doing business under the protection of a Corporation or LLC protect you personally from paying the employment taxes?
The short answer is NO. This is true even if your company has failed and gone out of business.
If the IRS finds you to be a person that is responsible under the law for withholding, accounting for and paying taxes taken from your employees’ paychecks, then they are coming after you personally if you didn’t turn that money over to them.