Another Reason Why You Should Check That Your Payroll Tax Deposits Are Being Made

Let’s head to North Tonawanda, New York (near Buffalo). Vicnent Mangione allegedly had a nice tax and payroll business. The Department of Justice alleges that Mr. Mangione had a different method of handling payroll taxes than what you and I would expect. Assistant US Attorney Michael DiCiacomo told the Buffalo News,“Unbeknownst to the businesses, Mangione would secure from the businesses the proper amount of quarterly tax due to the IRS and then submit a false tax return on behalf of the business that underreported the amount of tax due,” DiGiacomo said. “According to the indictment, Mangione would then keep the difference for his personal use.” Mr. Mangione, through his attorney, denies any wrongdoing.

No matter if you use a payroll service or not, check to make sure that the government is receiving your payroll tax deposits. You are liable for your trust fund taxes, and the government always comes calling if they don’t receive the funds.

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