Expo Holdings Inc. (EXPH)

[Acc441]

veno....you really need to research the subject FURTHER...JD has placed the company in a horrible situation with the IRS....there are steps to be taken in order to qualify for an installment agreement.....first of all...the IRS will DEMAND payment in full....you see....by failing remit taxes exceeding $10K...and failing to remit for more than 1 period.. well ..that eliminates the 2 easier options.... now the process gets ramped up a bit.. D&D's situation bypasses the IRS Field Agent level..it's UGLY veno....U G L Y

The time to simply pick up the phone and call the IRS for an installment agreement has LONG since passed you by...the IRS is looking at the alternative methods....JD has 3 choices now....

1) Remit the entire balance in full immediately
2) Expose the company to a full blown audit in hopes of reaching an installment agreement.
3)continue to ignore the IRS


Remit the balance in full IMMEDIATELY would be the recommended way to handle this.

An audit would expose many,many...*er*...NEGATIVE things and more than likely result in ADDITIONAL TAXES/PENALTIES....BET ON IT! You see... JD has let this go too far...too long...the IRS liens lay claim to every asset....INCLUDING RECEIVABLES...the SHAREHOLDER ADVANCES are RECEIVABLES....OOPS. Ironic...DON'T YOU THINK?

Once the IRS feels they can make a case for slapping JD/glenn(and maybe OTHERS) with the Trust fund tax penalty...and once the IRS has a COMREHENSIVE list of assets held by JD/Glenn(and maybe OTHERS)...well...that's when the fun starts.

Wilkes Holdings anyone??