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Who owes the IRS millions? Uncle Sam |
| Published: September 1, 2007, 1:39 pm |
| Tags: business, irs, state local, taxes, work job career |
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That's right. A substantial number of federal agencies, along with their state government cousins, have not been sending in the payroll taxes they collected from their employees. As of December 2006, federal government entities owed approximately $45 million in delinquent employment taxes, according to the Treasury Inspector General for Tax Administration (TIGTA) in a report issued last week. "Government entities, including those in the Federal Government, are not exempt from meeting employment tax deposit and reporting requirements," noted TIGTA investigators. "It is critical to the image of the United States that Federal Government entities be held to the same standards as private employers." Ya think? Not to be outdone, as of this January, state government offices had not submitted to the IRS around $254 million in payroll taxes for those employees. To correct this problem, TIGTA recommends that, among other things, the IRS expand its efforts to identify and [ Full article ] |
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