Wouldn’t it be helpful with your company’s cash flow if you could just not remit the social security and medicare withholding taxes?
We don’t recommend this as a strategy but, according to the US Inspector General, it’s working pretty well for some Federal agencies.
These Federal agencies owe over 14 million of back payroll taxes and, as best as can be determined, IRS is doing nothing to collect them.
If your blood boils as much as mine over this, let’s “remember in November”.
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