Lake Corporation has some severe cash-flow problems. You are the companys financial and tax consultant. Thetreasurer of

Question:

Lake has some severe cash-flow problems. You are the company’s financial and tax consultant. Thetreasurer of the company has informed you that the company has failed to make FICA and federal income tax withholding payments to the IRS (both the employer and employee contributions) for a period of approximately six months.
a. What advice can you give to the company treasurer regarding the nonpayment of taxes?
b. Can the liability for payment of the taxes extend to parties other than the Explain. Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...