Ralph Pew is the president of a small corporation,Yogurt for You,Inc.The company has two yogurt stores in malls in Mesa,Arizona.There were 22 employees in the stores in 2016.Pew,facing business startup costs,did not pay Yogurt for You's portion of the Social Security taxes (employees did have their shares withheld).Who is liable for the missing taxes?

Question

Quizplus · Accepted Answer

The missing taxes are the responsibility of the corporation itself (Yogurt for You), any officers of the corporation (which could include Ralph Pew if he has an active role in the company's management beyond his title), and potentially Ralph Pew personally if he was directly responsible for the financial decisions of the company. The IRS can pursue all parties involved in the failure to pay the company's portion of Social Security taxes.

Ralph Pew Is the President of a Small Corporation,Yogurt for You,Inc.The