August 12, 2008   

Editor's Note

There is an article this week about 1.6 million businesses that are in arrears to the IRS for withheld payroll taxes. This is money that has been stolen from employees over a period of 10 years and not remitted to the IRS on their behalf. Our tax dollars have been paying to cover these shortfalls because the IRS doesn't have the resources to go after all of these employers who steal from their employees when they can't make ends meet. We as a nation let people go on shopping sprees and amass credit card debt and then declare bankruptcy and walk away; we let people acquire mortgages they can't afford and then help them keep their homes; and we let employers get away with taking money from their own employees. We're awfully nice people. But why do we spend our money this way? What lessons do we teach? There is an election coming up. Remember, the people we elect make the decisions that affect how our taxes are used.

Best regards,
Gail Perry, CPA
Managing Editor
AccountingWEB, Inc.

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