Question
Two posts are required to receive full credit for a discussion. First of all you will need to respond to the scenario that is given.
Two posts are required to receive full credit for a discussion. First of all you will need to respond to the scenario that is given. You will need to give a complete answer, at least a paragraph, that shows that you have read the scenario and have put some thought into your response. The second required post needs to be at least one reply to a fellow students post. You must post an answer to the question before you can see the posts of other students. This chapter in our textbook discusses FICA taxes. Using the information found in the chapter examine the following situation and answer both questions following the situation (remember the requirements stated above): The owner of a small business has recently discovered, through letters from the IRS, that payroll taxes have not been paid in a couple of years. Upon investigation from an outside accountant, it was discovered that the internal accountant responsible for payroll and payroll taxes did not perform their job. The internal accountant wrote checks with the correct amount due to the IRS, but put his own name on the checks so he could cash them. The employee covered their embezzlement by stating that the checks were written to the IRS in the books of the business. What could have been done to prevent this? Who do you think will be held responsible by the IRS?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started