February 20, 2009 by Jay Freeborne

If you are a business owner that has accumulated a 941 debt, there are ways to minimize the damage. In many instances, if your case is done right, you may avoid personal assessment of the 941 liability.

For the record, if you are a corporation, the IRS has the right to assess the trust fund or civil penalty portion of the 941 debt against you personally. Partnerships are affected similarly.

If you are a sole proprietorship, the IRS just needs to make a simple assessment against your Social Security # for the debt to carry over to you personally.

Call me at 1-866-525-7302, toll free, to discuss your options and how my staff could play a role in minimizing the damage. OR YOU CAN EMAIL ME AT jfreeborne@watax.com

Jay Freeborne, Enrolled Agent.

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