The Internal Revenue Code requires employers to withhold federal income and Social Security taxes as well as Medicare and Federal Insurance Contributions Act (FICA) taxes from employees’ wages. If a nonprofit fails to pay these taxes, the IRS may go after individual board members and executives to repay the money. Article explores the critical lessons to be learned from cases in which nonprofit board members and executives have been held liable for a nonprofit’s failure to remit taxes.
Not Paying Your Taxes? Your Board Could Be Personally Liable.
Compliance
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