2016 US Code
Title 26 - Internal Revenue Code
Subtitle F - Procedure and Administration
Chapter 77 - Miscellaneous Provisions
Sec. 7501 - Liability for taxes withheld or collected

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Citation 26 U.S.C. § 7501 (2016)
Section Name ยง7501. Liability for taxes withheld or collected
Section Text (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.

Source Credit

(Aug. 16, 1954, ch. 736, 68A Stat. 895.)

Publication Title United States Code, 2012 Edition, Supplement 4, Title 26 - INTERNAL REVENUE CODE
Category Bills and Statutes
Collection United States Code
SuDoc Class Number Y 1.2/5:
Contained Within Title 26 - INTERNAL REVENUE CODE
Subtitle F - Procedure and Administration
CHAPTER 77 - MISCELLANEOUS PROVISIONS
Sec. 7501 - Liability for taxes withheld or collected
Contains section 7501
Date 2016
Laws In Effect As Of Date January 6, 2017
Positive Law No
Disposition standard
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