Replies to post #17415 on Labor Smart Inc (LTNC)

[DD2Gain]

as though it plays any relevancy in the current success of this company.

How much of the $1 million do ya suppose is still owed, eh? How many lenders are offering something other than toxic notes for financing? How many years is LTNC expected to pay off the $1 million in delinquent payroll taxes? Did ya know Ryan Schadel was late not once, but TWICE with payroll taxes (once for 2012 as well)?

Let me help you with that and also with what sort of so-called "current" taxpayers liens are placed on:

The federal tax lien continues until the liability for the amount assessed is satisfiedor becomes unenforceable by reason of lapse of time, i.e., passing of the collection statute expiration date (CSED). IRC § 6322. Generally, after assessment, the Service has ten years to collect the tax liability. IRC § 6502. However, there are some circumstances which may extend or suspend the ten-year collection period.

[emphasis added for anyone who seriously can't figure that out]

http://www.irs.gov/irm/part5/irm_05-017-002.html

So, for the next 10 years (lol) there is not a chance in hell that LTNC will obtain anything other than toxic notes for financing since every asset LTNC has and will have is claimed by the IRS. For the next 10 years, LTNC will be considered unsatisfied (delinquent) on its 2013 obligations PENDING resolution of the installment agreement, for the next 10 years we get to watch whatever portion of that LTNC manages to keep the doors open by struggling more and more with mounting toxic debt.

But (sob) some refuse to accept the facts for what they are. Even in the face of multiple IRS publication that have been posted on this board the supremacy of forum tax lawyers reigns over all. LTNC is current on all its tax obligations including the $1 million that it isn't because we've been told so. Someone should tell the silly IRS they are WRONG! WRONG! WRONG! ROTFLMAO!