Current Tax Payment Act - text?

[Lifted]

I can't seem to find this. I'm just looking for the actual text of the act, not a brief description or paraphrase.

Reason being is that some sites say the Act "compels" employers to withhold employees taxes, while other sites say it is mandatory.

The penalty for not paying withheld taxes is based on the Trust Fund Recovery Penalty, which states that if you don't pay withheld taxes to Uncle Sam, you are subject to a 100% penalty on the amount withheld.

What is the penalty for an employer not withholding taxes? Does the Current Tax Payment Act of 1943 state the penalties for not withholding taxes? If not, where are they stated, and who wrote the penalties, Congress or the IRS?

 

[Nintendesert]

I'm not sure, but I bet Westley Snipes knows.

 

[Lifted]

I'm not sure, but I bet Westley Snipes knows.

Excellent! Do you have his email address?

 

[BoomerD]

Excellent! Do you have his email address?

W.Snipes@FMITA.federalprison.gov

 

[mcmilljb]

I could not find the specific act myself, but I did what no other Congressperson could do themselves. I found the part that interests you listed on the gpo's website.

http://frwebgate.access.gpo.gov/cgi-bin/usc.cgi?ACTION=RETRIEVE&FILE=$$xa$$busc26.wais&start=17650660&SIZE=1468&TYPE=PDF

Page 2 of that pdf.

If a lender, surety, or other person supplies
funds to or for the account of an employer for
the specific purpose of paying wages of the employees
of such employer, with actual notice or
knowledge (within the meaning of section
6323(i)(1)) that such employer does not intend to
or will not be able to make timely payment or
deposit of the amounts of tax required by this
subtitle to be deducted and withheld by such
employer from such wages, such lender, surety,
or other person shall be liable in his own person
and estate to the United States in a sum equal
to the taxes (together with interest) which are
not paid over to the United States by such employer
with respect to such wages. However, the
liability of such lender, surety, or other person
shall be limited to an amount equal to 25 percent
of the amount so supplied to or for the account
of such employer for such purpose.

 

[Lifted]

I could not find the specific act myself, but I did what no other Congressperson could do themselves. I found the part that interests you listed on the gpo's website.

http://frwebgate.access.gpo.gov/cgi-bin/usc.cgi?ACTION=RETRIEVE&FILE=$$xa$$busc26.wais&start=17650660&SIZE=1468&TYPE=PDF

Page 2 of that pdf.

Thanks, but that appears to refer to a third party, not the employer.

"...with actual notice or knowledge <snip> that such employer does not intend to or will not be able to make timely payment or deposit of the amounts of tax required by this subtitle..."

I'm looking for the law that states the employer must withhold taxes (not a third party withholding on behalf of the employer), and what the penalties are if they don't.

I think I'll read up on that subtitle.

Edit: Yes, according to this, it's talking about lenders or payroll companies. It also states "the third party will be liable ... for amounts required to be deducted from wages."

So where are these requirements?? It seems awfully hard to find this law(?) anywhere. :hmm:

 

[allisolm]

The actual text of the act as passed is here - Chapter 120. I do not know what, if any, amendments to that section have been made since 1943, although from what I read the act is still in effect today.

 

[DaveSimmons]

Snipes and the non-Apollo Richard Hatch both say: "Don't try this at home"

 

[sjwaste]

If you're a student, see if your school has Lexis or WestLaw access that you can use. Look up the section of the code that allisolm gave you, and then navigate to the legislative history. You should be able to see how it's changed over the years.

Please note that I'm just assuming what allisolm pasted is the correct section of the code. I haven't actually looked, I'm just trying to help w/ legislative history.