Businesses owe $58 billion in tax withholdings »

Posted By engineer 1 year, 4 months ago in Business & Finance
Prop it 29 Drop it

Congressional 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 »

264 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:
Other Related Articles:

RSS Join the Discussion

+ Add Comment
Comments So Far: 2 (view all)
- Display
  • 100%
    engineer1 year, 4 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

    (comment_max_expanded_depth : 2) (comment depth : 2) (recursion depth : 1) (max_comment_reply_depth : 40) (comment_max_render_depth : 3)
    Reply
    loading loading ...
    • Neutral
      miklkit1 year, 4 months ago

      This comment is below the standard viewing threshold View It »

      This is another case of what happens when there isn't enough regulation of business. Business has no morals.

      (comment_max_expanded_depth : 2) (comment depth : 2) (recursion depth : 1) (max_comment_reply_depth : 40) (comment_max_render_depth : 3)
      Reply
      loading loading ...
      View All 2 Comments

      Add a Comment

      Sign In With Your Propeller Account

      Forgot your password?

      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.

      Submit a Story

      Advertisement

      Story Tags ?

      irs owed 58_billion investigators businesses congress

      Hey! If you Sign In, you can add tags to this story!

      Real Estate Info

      Get the Latest Market Info for Your Area



      Foreclosures | Short Sale

      Luxury Homes | Homes for Sale

      First Time Home Buyer Advice



      Also Dropping This Article

      No one has dropped this story.

      Also Submitted By

      No one else has submitted this story.