What’s this I hear about Our Place?

[joey2665]

Originally Posted by tis

Nothing had to be deducted. Unlikely because of all the employees they must have needed, but they could have paid them under the table, no? I don't know how people think they can get away with that but they do it. Plus they can't expense wages if they pay under the table. How does it make sense? Unless they don't report their income? Just too damn risky if you ask me.

I think your stretching this a bit too far. More than likely they deducted FICA and Withholding but never paid it to the IRS on there quarterly 941 which as I stated they take much more seriously than just not paying income, corporate or other types of asses tax and not those withheld from employees

[tis]

Originally Posted by joey2665

I think your stretching this a bit too far. More than likely they deducted FICA and Withholding but never paid it to the IRS on there quarterly 941 which as I stated they take much more seriously than just not paying income, corporate or other types of asses tax and not those withheld from employees

I do agree with you Joey, most likely that is what they did. Just figured I would spice up the conversation.

[Crusty]

It amazes me what people think the IRS will ignore. A former associate issued W-2s that only showed wages and withholding up until July. He explained that since July, he had been making personal loans to the employees, which carried no interest nor a repayment date. And everyone knows you don't pay any tax on loans. He had many other theories on tax law. Sixteen of them earned him indictments. To my benefit, thanks to the extensive investigation, I now have several friends high up in the IRS, and the US District Attorney recognizes me on the street and says "Hi". [I hope that's a good thing.]

[Charlie T]

It doesn't seem proper to speculate about a small business's tax status without any proof or inside knowledge of the situation. I see a thread here that is heavy on speculation and light on facts.

[joey2665]

Originally Posted by Charlie T

It doesn't seem proper to speculate about a small business's tax status without any proof or inside knowledge of the situation. I see a thread here that is heavy on speculation and light on facts.

IRS debt is public knowledge and the fact is the entity does owe payroll tax (so this is not speculation). A search easily reveals this information. As far as the remainder of the thread, it is a discussion about the IRS and tax liability nothing really to do with the business in question except that thru personal experience as a CPA I can tell you that the IRS seeks payment of payroll taxes more aggressively than most any other type of tax.

[Winnigirl83]

I noticed the "for lease" signs are gone. Anyone know who/what is going in there?

[Bigstan]

they looked like they could have been open today, but they were not. Hours were still hanging on the door, not sure if that's new or if they never took them down...