Businesses owe $58 billion in tax withholdings »
Posted By engineer 1 year, 3 months ago in Business & FinanceCongressional investigators say businesses have failed to pay the IRS some $58 billion over the past decade in taxes they were supposed to have withheld from their employees' paychecks and forwarded to the government.
Read Full Story at boston.com »
261 Views Share Story 2 Comments Report
Submitted By:
engineer
Hi
My background is Biomedical engineering with an MBA As you know from all my comments where I almost stand politically. I have loads of ...
Who Also Submitted:
RSS Join the Discussion
+ Add CommentComments So Far: 2 (view all)
-
100%
engineer1 year, 3 months ago
This comment is below the standard viewing threshold View It »
The Government Accountability Office says more than one and a half million businesses owed the supposedly withheld income, Social Security and Medicare taxes as of the end of September last year. Because the taxes weren't paid, the government had to dip into its general fund to cover shortfalls in Social Security and Medicare.
The GAO report faults the Internal Revenue Service for relying too much on voluntary compliance in the past, even with the worst payroll tax offenders
Reply -
More News
Daily Finance
As Leno's fortunes fade at NBC, Zucker's continue to climb
Brazil to rich countries: Pay up, or the rainforest gets it
Is the World Bank's Zoellick too pessimistic about the U.S.?
Swine flu: GlaxoSmithKline will donate 50 million vaccine doses to poor nations
Massucci's Take: Priceline's stock travels skyward on strong summer season
Add a Comment
Sign In With Your Propeller Account
Please keep your comments relevant to this story.
To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.