Labor Smart Inc (LTNC)

[DD2Gain]

Oh no. That refund was for FY2012.

But I'm happy to address it at the top of the board.

The fact it's for FY2012 would be a very important (and obvious) detail since we're talking $1 million in payroll tax delinquency for FY2013 or is Schadel also a year behind in SEC compliance?

How much total in FY2013 payroll taxes is owed including penalties and interest and what is the full term of the installment agreement with the IRS? It should be much easier to answer than this since you insist it's in the 10Q. As a matter of fact, I don't care where you get the information from just post a link or an email. Although, we know Schadel has been less than reliable in his email responses regarding tax obligations:

Ryan Schadel January 13, 2014

Labor Smart is 100% current on ALL tax reporting requirements.

Whoops! He must have meant except for $1 million.

Oh, and how is it that stealing payroll taxes to pay for buying branches and giving yourself cash while taking out millions in convertible financing is something to "applaud"?

I applaud the ability to use the payroll tax money to build the business

I certainly don't applaud stealing and neither does the IRS:

"Failure to pay employment taxes is stealing from the employees of the business,” said IRS Commissioner Mark W. Everson. “The IRS pursues business owners who don’t follow the law, and those who embrace these schemes face civil or criminal sanctions.

For some, it may be an attempt to use the government as a bank to 'borrow the money for a short while' with good intentions to pay it back later."


www.irs.gov/uac/IRS-Warns-Businesses,-Individuals-to-Watch-for-Questionable-Employment-Tax-Practices[tag]
http://www.irs.gov/uac/IRS-Warns-Businesses,-Individuals-to-Watch-for-Questionable-Employment-Tax-Practices
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