Labor Smart Inc (LTNC)

[DD2Gain]

You are 100% correct. Not paying the payroll taxes on time is inexcusable. Then to not pay off the debt is just plain stupid if funds are available. Owing the IRS for payroll taxes is VERY EXPENSIVE because the IRS considers failure to pay on time akin to "stealing"- the IRS uses that exact word.

TSGL owed the IRS hundreds of thousands of dollars in payroll taxes and, unlike Ryan Schadel, they were transparent enough to detail what they owe and how much it has cost before Ryan Schadel took control of the company and sold off all the assets/liabilites on December 31st (leaving a shell). If you want to see just how expensive it is to owe the IRS for late payroll taxes, just take a look at TSGL's last 2015 financial report on the matter. According to them, they were on time with the payment arrangements and the penalties were still steep.