Just looking to find out if anyone knows how this would work or not but I just found out the other day that the owner of the business I work at is being investigated by the IRS and he just had all his accounts frozen. What I'm looking to find out if this is in anyway going to affect our paychecks and what should we do(besides the obvious, look for another job)? Has anyone seen this before and what should I expect?
According to one of the ladies I work with he's going to have pay us in cash. Not sure of the legality of that and I'd rather have a printed copy of what I made on my check then to trust him to pay me exactly what he owes me. He's one of the worst crooks I have ever met and I'm skeptical of every word he says.
Well this guy has had paychecks bounce and stolen money from his vendors. Thankfully none of my have bounced yet but things are a little different this time around with his accounts being frozen.
He should have been put on notice before this and didn't tell you. He has a small window in which to work out a deal with the IRS to unfreeze the account, or you can expect that even if he pays you in cash, he won't be doing it long as businesses cannot function well that way. I am curious if he has been even sending in your FICA and other withholdings if it got to the point that the IRS actually moved on the business accounts.
He doesn't tell anyone anything. He just goes on pretending that everything is alright and expects everyone else to follow along. I would imagine that if he withheld those things I would probably have heard about it when I filed my taxes. His problem is that when people go to cash their checks he doesn't have any money in his account so it bounces. That's also why I always take mine to Wal-Mart and cash it as soon as I get off work.
I know people who have worked at places like that. when in doubt, I take them directly to the bank. I wouldn't want Walmart coming after me for the money. You need to be looking for a lifeboat IMO. I have known business that got locked out for sales tax non-payment. In those situations, the state would let them do payroll for employees other than the owner or their family members. I am not sure about the IRS in that situation. What I do know is that I have seen a lot of IRS docket liens against owners of businesses, but those businesses still operated. I suspect that if it has gotten to this point, your employer is going to be liquidated in fairly short order.
Well I am looking for another job but it's still a difficult economy. I'm not saying I would quit this seeing as how I do enjoy and love the majority of the people that I work with, but a second job would definitely be nice. I've never had an issue with Wal-Mart as far as my check goes. As much as I dislike the place their have hasn't been problems regarding that. I'm actually surprised to see we're still running. I figured we would have shutdown right after Christmas but that obviously wasn't the case. It does look like though that everything is finally coming to a head. I can only hope that the owners will sell the business and hopefully we can build things back up. Their's so much potential here and it's being squandered. And the really sad thing, almost every employee here would go the extra mile to make this place great. Their's not to many places where the workers would do that.
Oh believe man, I don't have the money to do ether. I would love to do one or both of those but I just don't have the money. It doesn't help that I was irresponsible while I was younger either that I ruined my credit too. That's a separate issue on it's own and falls on no one but me to see to that.
