IRS Plans to Target S Corporations for Underpayment of Employment Taxes

By Frank S. Macgill, published on March 24, 2010, in Business in Savannah.

In its continuing efforts to close the tax gap, the Internal Revenue Service may start pursuing some business owners for additional taxes. A new report by the Government Accountability Office published in December, found that some S corporations are failing to pay adequate wages to their owner-employees. which leads to an underpayment of employment taxes.

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