The GAO says American businesses have underpaid over $58 Billion in payroll taxes (that's right folks, that was a "B"). Now I'm as pro-business (and especially pro-small business) as the next guy, but this is a scandal. The representative of the US Chamber of Commerce sounds a note of warning, urging caution that the interest and penalties could "sink" some companies.
Good. That's what should happen. If you can't pay the basic obligations of your business (and meeting payroll is one of them), perhaps you really don't have a "going concern".
Tuesday, July 29, 2008
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