Labor Smart Inc (LTNC)

[sobe4life]

****WRONG CPW13154****

cpw13154

If anyone needs more proof all they have to do is look at the sticky on the subject which gives them all the facts they need. But again they also can do a little research and se that the facts and figures posted by DD2 correct.

From the sticky:

Based on the payment arrangement as described in the 10Q and the standard 10 year term the IRS generates for delinquencies over $50,000 the total amount owed for failing to pay $1,019,923 on time is $1,690,000. Certainly, IF the delinquency is satisfied early there will be less owed, but only through interest. At about 4% simple annual interest (currently) we can clearly see that penalties and fees are steep for being delinquent.

There are SEVERAL mistakes in this statement which I have highlighted in bold.

They are as follows:

1). There is no 10 year term

2). The company is currently paying 3% simple interest on the repayment

3). Under the terms of the Agreement the IRS removed all penalties and fees.

So here we are once again reading propaganda based on general assumptions instead of actual facts. Additionally, this post makes ZERO mention of any alleged $1.7 million dollar lien.

The reason there is no $1.7 million dollar lien is because the company doesn't owe the IRS $1.7 million dollars.

Again, another redundant day of discussing a situation that not only has no significant impact on the company's operations but has already been resolved. Under the terms of the Agreement LTNC has with the IRS they are now current with all the tax obligations and can not be late with any tax obligation going forward.