Can I be held personally responsible for my corporation's payroll taxes?
Yes you can. Under Internal Revenue Code § 6672 persons who are deemed to be responsible persons who willfully fail to pay corporate payroll taxes may be held liable for the payment of the trust fund portion of the corporate payroll taxes. Responsible persons may include not just corporate officers, but shareholders, directors, bookkeepers, and in some cases even outside managers, and accountants. In rare circumstances responsible persons can even have criminal tax liability for failure to pay payroll taxes. The determination of who is a responsible person requires a complete analysis of all of the facts, and circumstances.