This is not true, but you are not personally liable for the tax. Phil Sent from my Verizon Wireless 4G LTE DROID -----Original message-----

I am 50% owner of an S Corp. Can my 50% ex partner make me pay 50% of her legal fees to dissolve her ownership?

Attorney's Hanson's answer is on point. You need to determine if there is any provision in your shareholder's agreement or any corporate documents...

I have s corporation and want to change LLC.

Mr. Smoot is correct. You need to have a consultation with, an ultimately retain an attorney that ican provide you with advice and legal...

Department at IRS to call regarding discharge of penalties, interest and employer portion of civil penalty in payroll tax

The non-trust fund portion of the payroll tax liaiblty can be discharged in BK. The trust fund portion cannot be discharged. You cannot discharge...

Should i form a LLC

I agree with Steven. You need to seek an immediate consultation with an attorney who has both tax and business experience to analyze you legal...

As a director of a CA Corporation, what is my liability for misdeeds of fellow directors?

The safest way to insulate yourselves from each others' misdeeds as professionals is to create a LLP (limited liability partnership) which is what...

I need to get reported income from the IRS. What is the easiest way to get it?

I don't believe that you have any additional extensions for 2010 because all filing periods expired in 2011. You may also be subject to additinal...

I want to incorporate a small church.(200)

Normally churches are not required to incorporate because they are exempt under the First Amendment of the u. s. Constitution. You have not...

CEO and CFO both board members gave selfs raises without approval the board by-law required.

There are a number of possble legal actions for breach of fiduciary duty, usurpation of corporate opportunities, failure to exercise sound business...

The starting date of a business is typically the day that you actively engage in a trade or business. You can create a business entity and still...