Business, 13.10.2021 18:50 samanthabutryn
The Scooter Company, owned equally by Julie (chair of the board of directors) and Jeff (company president), is in very difficult financial straits. Last month, Jeff used the $100,000 withheld from employee paychecksfor federal payroll and income taxes to pay off a creditor who threatened to cut off all supplies. Tokeep the company afloat, Jeff used these government funds willfully for the operations of the business, buteven that effort was not enough. The company missed the next two payrolls, and today other creditors tookaction to shut down Scooter altogether.
Required:
From whom and for how much will the IRS assess taxes and penaltiesin the matter?
Answers: 3
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The Scooter Company, owned equally by Julie (chair of the board of directors) and Jeff (company pres...
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