What is the name of your state?MD
Hello,
I was recently a 10% owner in a business with a family member that went under. My family member and another person represented the other 90%. The buisiness was an S-Corporation. There is estimated to be 60-70,000 in unpaid Payroll Tax.
I was not a signer on any of the company's bank accounts, nor was I involved in any daily or management decisions, nor have I taken any disbursements.
I recieved a few paychecks that had tax witheld from all of them.
One or both of the other company owners will definitely declare bankruptcy. My Question is; Do I have any liability to the IRS, or if they come after me do I have a good legal defense to not owe the tax?
Any advice is greatly appreciated.
thanks,
jb50c
Hello,
I was recently a 10% owner in a business with a family member that went under. My family member and another person represented the other 90%. The buisiness was an S-Corporation. There is estimated to be 60-70,000 in unpaid Payroll Tax.
I was not a signer on any of the company's bank accounts, nor was I involved in any daily or management decisions, nor have I taken any disbursements.
I recieved a few paychecks that had tax witheld from all of them.
One or both of the other company owners will definitely declare bankruptcy. My Question is; Do I have any liability to the IRS, or if they come after me do I have a good legal defense to not owe the tax?
Any advice is greatly appreciated.
thanks,
jb50c