Internal revenue code section 6672: the 100 percent penalty. (problems arising when companies do not pay taxes): An article from: South Dakota Business Review

This digital document is an article from South Dakota Business Review, published by The Business Research Bureau on June 1, 1993. The length of the article is 1711 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: If a company fails to pay taxes due to the Internal Revenue Service (IRS), serious problems can arise, particularly when the trust fund portion is withheld. People responsible for ensuring the taxes are paid, including employees and officers of a company, are liable for a 100% penalty under Section 6672 of the Internal Revenue code. Companies should thus seek at least to pay the trust fund portion of their taxes, and if the firm has serious problems which may result in taxes being unpaid, it should seek professional advice.

Citation Details
Title: Internal revenue code section 6672: the 100 percent penalty. (problems arising when companies do not pay taxes)
Author: Thomas L. Davies
Publication:South Dakota Business Review (Newsletter)
Date: June 1, 1993
Publisher: The Business Research Bureau
Volume: v51 Issue: n4 Page: p1(3)

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