Hi and welcome to Just Answer!
Different expert here.
According to current rules
- withheld income
and employment taxes shoudl be promptly remitted to the IRS.
These taxes are called trust fund taxes because your employer actually hold your money in trust until your employer makes a federal tax
deposit in that amount.
provides special employment taxes and the trust fund recovery penalty (TFRP) which might be assessed to any responsible
person who has the duty to perform and the power to direct the collecting, accounting
, and paying of trust fund taxes.
A responsible person may ber not only the company - but also an officer or an employee of a corporation who is in charge of employment taxes.
That might affect you personally when you will file the tax return
and will claim a refund.
In additional - your earning record with Social Security Administration
will be affected.
Your employer might have financial difficulties and the trust fund money were used to pay other cteditors - in this situation - the IRS will use that as an indication of willfulness not to pay them.
You may report your situation as a tax fraud directly to the IRS.
Use Form 3949-A
, Information Referral
Print the form and mail to: XXXXX XXXXX Service Fresno, CA 93888
Although you are not required to identify yourself, it is helpful to do so. Your identity will be kept confidential.
If you have information and want to claim a reward - use Form 211 Mail it to the address in the Instructions for the form.
Let me know if any clarification needed or if you need help with other tax relaterd issues.