Personal Liability on Trust Fund Taxes

Employers are obligated under the Internal Revenue Code (“IRC”) to withhold federal income and social security taxes from the wages of their employees, and to hold such taxes in trust for the United States. See 26 U.S.C. §§ 3102, 3402, 7501. These withheld sums, often referred to as “trust fund”

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SARE, Single Asset Real Estate Debtor

Dare to SARE: Single Asset Real Estate Debtors

Dare to SARE: Single Asset Real Estate Debtors DEFINING “SARE’S” The term “single asset real estate” is defined in 11 U.S.C. § 101(51B) as “real property constituting a single property or project, other than residential real property with fewer than 4 residential units, which generates substantially all of the gross

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“I’m not paying payroll taxes”

By Jamie L. Harris One of the major common financial mistakes that I see business owners make is failure to pay employment taxes. As many businesses are facing limited cash flow, too often payroll taxes go unpaid as business owners opt to pay other debts. The payment of such taxes

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