IRS Employer Payroll Tax Liabilities | What Happens if a Business Owes Payroll Taxes to the IRS?

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Employers are responsible for withholding Federal Income taxes, Social Security taxes, and Medicare taxes from their employees' wages. The employer is then required to deposit these funds with the IRS.

If an employer fails to deposit these funds with the IRS, and the employment tax liability exceeds an amount over $100,000, the IRS will very quickly assign a revenue officer to your case.

The IRS can access Trust Fund Penalties to any individual, they deem is a responsible party. Unfortunately, the IRS does not limit this liability to the owners of the business, they will consider key employees - anyone with access to the accounts and knows of the outstanding tax liabilities - as responsible parties.