26 U.S.C. § 7501

Current through P.L. 117-57 (published on www.congress.gov on 11/12/2021)
Section 7501 - Liability for taxes withheld or collected
(a) General rule

Whenever any person is required to collect or withhold any internal revenue tax from any other person and to pay over such tax to the United States, the amount of tax so collected or withheld shall be held to be a special fund in trust for the United States. The amount of such fund shall be assessed, collected, and paid in the same manner and subject to the same provisions and limitations (including penalties) as are applicable with respect to the taxes from which such fund arose.

(b) Penalties

For penalties applicable to violations of this section, see sections 6672 and 7202.

26 U.S.C. § 7501

Aug. 16, 1954, ch. 736, 68A Stat. 895.
The term "person" shall be construed to mean and include an individual, a trust, estate, partnership, association, company or corporation.