Can the IRS Come After You Personally for Business Tax Debt?

Episode Summary: In this episode, Lance Drury discusses the implications of IRS personal responsibility for business tax debt. He explains how business structures may not always protect individuals, leading to potential personal liability for unpaid payroll taxes. Lance emphasizes the importance of compliance and timely tax payments to avoid personal exposure to IRS collections. Key Timestamps: 00:00 – Introduction 03:12 – IRS Trust Fund Civil Penalty 06:45 – Personal Responsibility for Sole Proprietors 10:20 – Impact of Business Closure on Personal Collection 14:05 – Compliance and Limiting Personal Exposure 18:30 – Avoiding Personal Tax Debt Risks About the Show: *Resilience and Resolve* offers valuable insights on navigating IRS challenges for small business owners and individuals. Lance Drury shares expert advice on resolving tax issues and regaining control when facing overwhelming IRS problems.