Certain business taxes, particularly payroll taxes, can create personal liability for owners, officers, or other responsible parties. This is commonly known as trust fund liability.

If the IRS determines that you are personally responsible, it may pursue collection against your personal assets, even if the business has closed. This can include bank levies, wage garnishment, and liens against personal property.

Personal liability determinations are fact specific and often involve detailed financial and operational analysis. Disputes may arise over who had authority, control, or responsibility during the periods in question.

Because these cases often involve large balances and long timeframes, early legal guidance can be important in protecting personal finances and future income.

If you are concerned about personal exposure related to business taxes, call our Atlanta office right now to discuss your situation.