Failure to deduct or collect tax creates withholding liability with interest accrual and a charge on the payer's assets. Failure to deduct, collect or remit tax by the person required to withhold, including a principal officer, makes that person an assessee in default and triggers liability for simple interest on undeducted or uncollected amounts and on deducted or collected amounts until payment; interest must be paid prior to furnishing the required statement, unpaid tax and interest constitute a charge on all assets, and a deeming order is subject to the Act's prescribed limitation periods and exclusion where the payee has filed, accounted for and paid the tax with a certificate from an accountant.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Failure to deduct or collect tax creates withholding liability with interest accrual and a charge on the payer's assets.
Failure to deduct, collect or remit tax by the person required to withhold, including a principal officer, makes that person an assessee in default and triggers liability for simple interest on undeducted or uncollected amounts and on deducted or collected amounts until payment; interest must be paid prior to furnishing the required statement, unpaid tax and interest constitute a charge on all assets, and a deeming order is subject to the Act's prescribed limitation periods and exclusion where the payee has filed, accounted for and paid the tax with a certificate from an accountant.
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