Q: If I'm an authorized signer on a corporate account, am I liable for any tax debt to the state or IRS?
I work in the accounting departing. My duties include payroll, accounts payable, paying taxes. The corporation I work for is not in any tax debt right now. Due to some changes with the bank I may need to be added as an authorized signer to move money around the company accounts, Payroll, payable etc. I want to be 100% sure that if for any reason in the future the company wasn't doing well and became indebt with the Department of Revenue or IRS, that I will not be liable and the IRS or DOR wont come after me.
A: Although it is impossible to predict what your future has in store for you, it is safe to say that merely being the bookkeeper and having signing authority on the company account--in and of itself--is not enough to tag you for some possible taxes due in the future. However, it is just as safe to say that if you are an active participant in any unlawful scheme to avoid state employment taxes or federal income taxes, you being a signatory on the corporation's bank accounts will make it difficult for you to escape unscathed.
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