(1) Where any person who is required by this Act to deduct tax from the income of, or payments to some other person under sections 53(5), 63(14), 76, 77, or 78, fails to deduct such tax or to account to the Comptroller for any tax so deducted, he or she is liable to a penalty of 10% of the tax which should have been deducted or for which he or she has failed to account.