Corporate Tax Lien - Am I Personally Protected?

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s About Taxes)/Corporate Tax Lien - Am I personally protected? Advertisement Expert: Richard Fritzler - 3/18/2009 Hi,

The state of NY has placed a tax warrant/lien on my former corporation. It's for the state franchise tax. Am I at risk of a lien being placed on me personally? I was told no by a few people because it was a C-corp and it's corporate income taxes. So far the lien is only in the name of the corporation.

The biggest problem is this lien should not be in place. I received an extended deadline, which has not arrived, and in addition I ended up having my dispute heard and it's still unresolved. I don't want my assets taken over an error on their part.

[Jerrick]

Tax collection is a dicey area. The IRS and the department of labor have actually held anyone that wrote checks on the business account personally liable. With the claim that that person chose to not pay the debt that was due and instead chose to pay someone else.

Even if they didn't use that particular justification there are others that can be used to hold individuals personally liable for corporate debts.

"Alter Ego" is a catch all phrase that can be used to claim that the corporation is not a truly separate entity but merely an extention of the individual. This could be from "Co-mingling funds"(paying personal expenses with corporte dollars or paying corporate expenses with personal dollars. It could be "ownership", which you already had at least an unconscience concern about. Nothing is ever a sure thing and when someone claims "you can't lose", assume you are conversing with idiots.

Richard Fritzlerhttp://www.owelesstax.comhttp://www.nevadacorporateservices.com

phone 800 590-6612