§ 7501. — Liability for taxes withheld or collected.
[Laws in effect as of January 7, 2003]
[Document affected by Public Law 1 Section (3)]
[Document affected by Public Law Section (1)]
[CITE: 26USC7501]
TITLE 26--INTERNAL REVENUE CODE
Subtitle F--Procedure and Administration
CHAPTER 77--MISCELLANEOUS PROVISIONS
Sec. 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.
(Aug. 16, 1954, ch. 736, 68A Stat. 895.)
