Recent legal action serves as a reminder to businesses: Take payroll tax administration responsibilities seriously. The Oklahoma- and Virginia-based owners of a mental health counseling services company pleaded guilty to failing to file required quarterly employment tax returns and pay over the full amounts they withheld from employee paychecks. The guilty parties admitted that over several years, they intentionally failed to pay the IRS approximately $1.3 million in taxes they withheld from employees. When they’re sentenced in a U.S. District Court, each defendant faces up to five years in prison, restitution requirements and possible financial penalties.
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