Paying the Taxman in Trust Fund Cases (SumNews)
SumNews, a publication of the Massachusetts Society of Certified Public Accountants.
Business are required to withhold income and Social Security taxes in trust for the government. These taxes, sometimes called "trust fund taxes," remain the financial responsibility of the business and eventually the taxman demands payment of these taxes. Consider the bankrupty and non-bankrupty alternatives for a business with unpaid trust fund taxes. Download our analysis below.