Partner liability: partners are jointly and severally liable for firm tax; retiring partners remain liable until Commissioner notified. Liability of partners for firm tax obligations is joint and several: the firm and each partner are individually responsible for tax, interest or penalty. A retiring partner remains liable for liabilities up to the date of retirement, and the partner or the firm must notify the Commissioner in writing; if no intimation is received, the retiring partner's liability continues until receipt of the notice.
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Provisions expressly mentioned in the judgment/order text.
Partner liability: partners are jointly and severally liable for firm tax; retiring partners remain liable until Commissioner notified.
Liability of partners for firm tax obligations is joint and several: the firm and each partner are individually responsible for tax, interest or penalty. A retiring partner remains liable for liabilities up to the date of retirement, and the partner or the firm must notify the Commissioner in writing; if no intimation is received, the retiring partner's liability continues until receipt of the notice.
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