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>> As a founder, it's not inconceivable to think all the proper taxes are being paid when one slips through the cracks. In any company, someone's responsible f
by slantyyz 12y ago
>> As a founder, it's not inconceivable to think all the proper taxes are being paid when one slips through the cracks.
In any company, someone's responsible for the books (whether it's the CEO, some other employee, or an outsourced accountant), and you would think that the bank statements would be reconciled with the general ledger more than once a year. At the very least, it would have been done with each fiscal year end.
That the unpaid payroll taxes weren't noticed for almost three years is mind boggling to me.
- endersshadow 12y agoThis just means that they were running their business off of their account balance on B of A's site. It's also known as "flying by the seat of your pants."