The National Directory of Certified Public Accountants

Ask A CPA - Payroll Taxes

Payroll Taxes And Sales Tax - Personal Liability

A responsible party which includes the sole shareholder, officer, or authorized signatory is personally liable for the "trust funds". Trust fund money includes payroll taxes that were withheld from the employees and sales tax which was collected from customers. Business owners should never spend trust fund money, nor temporarily borrow this money. Business owners get into trouble this way every year.

If you need professional help with "Payroll Taxes" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.