LAWSUITS NEWS & LEGAL INFORMATION
Accounting IRS Payment
Erie, PA: (Oct-23-07) The Lawrence Park Golf Club brought charges against McGill, Power, Bell & Associates LLP, an accounting firm, claiming that an undetected financial problem cost the company $1.7 million. The club claimed audits performed by McGill, Power, Bell & Associates failed to show that money that was supposed to be funneled to the Internal Revenue Service (IRS) and the state Department of Revenue to pay certain taxes was instead piling up in an account and drawing interest.
As part of a settlement reached between the parties, sources revealed that though precise terms of the agreement were not disclosed, the sum exceeded $281,000. Golf Club officials stated that proceeds were received and that a portion was used to pay the club's outstanding tax liability to the IRS. At the time of filing the lawsuit, the Lawrence Park Golf Course was prepared to claim $1.7 million in damages, including tax penalties, professional fees and loss of membership. The club had 375 members at the time the lawsuit was filed. [ERIE TIMES NEWS: ACCOUNTING IRS PAYMENT]
Published on Oct-25-07
As part of a settlement reached between the parties, sources revealed that though precise terms of the agreement were not disclosed, the sum exceeded $281,000. Golf Club officials stated that proceeds were received and that a portion was used to pay the club's outstanding tax liability to the IRS. At the time of filing the lawsuit, the Lawrence Park Golf Course was prepared to claim $1.7 million in damages, including tax penalties, professional fees and loss of membership. The club had 375 members at the time the lawsuit was filed. [ERIE TIMES NEWS: ACCOUNTING IRS PAYMENT]
Legal Help
If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please click the link below.Published on Oct-25-07
