Reply To: Client wants to terminate his corporation..

Home Forums Member Forum Client wants to terminate his corporation.. Reply To: Client wants to terminate his corporation..

#33324
Eric Green
Keymaster

Brett, no if he shuts the corporation down he is still only responsible for the trust fund portion. If you go through the payroll masterclass we discuss this strategy. The key thing is that the assets of the business are not his but instead belong to the IRS due to the statutory lien, whether they file the Notice of Federal Tax Lien or not. But so long as he does not distribute assets to himself he can close up and retire, he will owe the trust Fund, and possibly its time to look at an OIC!