Selasa, 05 April 2011

IRS Penalties Despite Dead/Embezzling Accountant!

It almost sounds like the punch-line to a joke.  If your accountant embezzles your money, does that relieve you of IRS penalties?  How about if the embezzling accountant then dies?  It may sound silly, but that fact pattern was not enough to get business owners out from under a $2 million IRS penalty on payroll tax failures.  In Oppliger v. United States, the U.S. Court of Appeals for the Eighth Circuit ruled for the IRS, finding business owners to be “responsible persons” subject to a $2 million penalty for employment taxes. 

Source: http://blogs.forbes.com/robertwood/?p=1711

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