Discussion:IRS Collections
From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.
From TaxAlmanac
(Difference between revisions)
| Revision as of 15:13, 5 October 2009 Death&Taxes (Talk | contribs) (She notes the mo) ← Previous diff |
Revision as of 15:18, 5 October 2009 Irsfixer (Talk | contribs) (The questioner m) Next diff → |
||
| Line 14: | Line 14: | ||
| {{ForumReplyPost|UserID=Death&Taxes|Date=5 October 2009|Text=She notes the money is not due 'for treasury funds' which I take to mean withholding tax. The question in my mind is whether IRS would have recourse to say the dividends should not have been paid.}} | {{ForumReplyPost|UserID=Death&Taxes|Date=5 October 2009|Text=She notes the money is not due 'for treasury funds' which I take to mean withholding tax. The question in my mind is whether IRS would have recourse to say the dividends should not have been paid.}} | ||
| + | |||
| + | {{ForumReplyPost|UserID=Irsfixer|Date=5 October 2009|Text=The questioner made it somewhat clear he was not talking about employment taxes.}} | ||
Revision as of 15:18, 5 October 2009
Discussion Forum Index --> Advanced Tax Questions --> IRS Collections
Discussion Forum Index --> Tax Questions --> IRS Collections
Littlelulu (talk|edits) said: | 28 September 2009 |
| Could someone please confirm if the IRS cannot go after the officer/shareholder of a C Corp for taxes (not treasury funds) assessed as a result of an audit? The corp was dissolved prior to the beginning of the audit. I read in the IRS manual where the RO can code the account CNC, but want to know if legally, can they collect the tax from the shareholder.
Also, as a result of the audit, there will be taxes assessed against them personally. Couple is also 100% shareholder of S Corp. If they do not have the $ to pay taxes, am I correct in my thinking that the IRS can go after their interest in the S Corp? Thank you for your help | |
| 28 September 2009 | |
| If anyone, officer/shareholder/other got assets of the disolved corporation, IRS could pursue them for a transferee assessment under IRC 6901. Their ability to pay is legally irrelevant but should be mentioned if the issue comes up. | |
Littlelulu (talk|edits) said: | 28 September 2009 |
| The corporation did not have any hard assets. The only asset they received was cash in the way of wages and dividends. | |
Mikex2e7n5 (talk|edits) said: | 5 October 2009 |
| If it is employment taxes withheld from the employees, then they can be held liable under 6672, the Trust Fund Recovery Pentalty. | |
Death&Taxes (talk|edits) said: | 5 October 2009 |
| She notes the money is not due 'for treasury funds' which I take to mean withholding tax. The question in my mind is whether IRS would have recourse to say the dividends should not have been paid. | |
| 5 October 2009 | |
| The questioner made it somewhat clear he was not talking about employment taxes. | |
