Recently, the federal government has heightened its priority on payroll tax enforcement. Advisors and business owners alike should heed the call, experts say.
In a recent interview with Financial Advisor, Friedman’s David Shuster — JD, LL.M., Managing Principal, and Director of Tax Controversy Services — spoke about the consequences business owners could face if money intended for payroll tax is used for personal use or to fund their business.
“In addition to civil penalties, interest and income tax liability, criminal liability can also arise,” David said.
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