Offices are not personally liable for regular corporation or S corporation debt unless they have signed guarantees. Be sure also that none of the debt is in the name of the corporation as well as an officer. For instance, If a lease is in the name of an officer as well as the corporation both are liable on the obligation. Having said that, the IRS can hold the "responsible person" liable for trust fund taxes of the corporation. The responsible person is normally the person who makes the decision as to whether trust fund taxes are kept or paid over to the IRS.
