IRS and Tuskegee Agree on Plan

more+
less-

After much discussion, the IRS has accepted a plan from the city of Tuskegee to repay its tax arrears. The city had hired 2 tax attorneys to submit its proposal to the IRS. They submitted an initial proposal on April 16 but the IRS asked for more information. Then a second proposal was submitted, which was fnally accepted by the IRS. But the city made a payment of $17,160 as a gesture of good faith before the second proposal was accepted.

As at November 9, 2010, the city had accumulated $3,448,229 in unpaid taxes including penalties and interests after deducting those taxes from employees for payments to the IRS. About $2 million of this amount comprises of interests and penalties. The city had frst paid employee salaries and benefts such as health insurance and contributions into retirement funds. Due to lack of fnances, the city had insuffcient cash to pay the IRS.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Darrin Mish, Tampa Tax Attorney, The Law Offices of Darrin Mish, P.A. | Attorney Advertising

Written by:

more+
less-

The Law Offices of Darrin Mish, P.A. on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×