Personal liability of directors of not-for-profit corporations.: An article from: The National Public Accountant

This digital document is an article from The National Public Accountant, published by National Society of Public Accountants on February 1, 1996. The length of the article is 6393 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Internal Revenue Code S6672 provides guidelines on how payroll tax withheld from employees that was not paid to the government by a corporation or other entity can be assessed and also applies to unpaid tax of board of directors of non-profit organizations. The IRS may impose a penalty against the board of directors of non-profit organizations if it finds that the key elements of 'responsibility' and 'willfulness are present. In this case, directors should insist that the entity pay for 'Plan B' liability insurance to make sure that they do not have to pay the withholding liabilities.

Citation Details
Title: Personal liability of directors of not-for-profit corporations.
Author: Ralph V., Jr. Switzer
Publication:The National Public Accountant (Magazine/Journal)
Date: February 1, 1996
Publisher: National Society of Public Accountants
Volume: v41 Issue: n2 Page: p28(8)

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