Hello again... The IRS could go after the offshore company and its assets.
Also, there has to be someone here in the US that has represented the company in some form or fashion.
Often times the IRS will go after them as well even if they are not owners.
I have seen cases where the IRS has gone after the treasurer of the company.
Please let me know if you have any other questions or need clarification.
Thanks for the answer. How can the individual affiliated with the entity, say the CEO or CFO, be protected in this case?
Its hard to say without know what kind of taxes are owed and if there was any fraud involved.
Sure, the IRS taxes would be considered income, due to inter-company transactions (A/P-A/R booking). For example, company A owes company B $100,000, and company does not company B. A & B are subsidiary companies.
If there was no fraud involved then you are probably not going to be held liable (assuming you are not an owner of the company).
Well, unfortunately, I am a minority shareholder.
Sorry to hear that, please let me know if you have any other questions regarding this matter as I would be happy to help in any way that I can.
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