Post by pavel on May 13, 2016 2:20:46 GMT -6
The amount of money the Internal Revenue Service is demanding from the city of Pineville has grown to more than $2 million, and the city is looking to settle the debt as soon as possible.
Last fall, city officials said the IRS wanted the city to pay $1.2 million for missed Social Security payments. That amount apparently was for the three-year period of 2011-13, which was mentioned in an IRS letter to the city, plus an added amount from 2014.
But the meter has been running since then so that the amount owed is now calculated to be around $2.3 million.
Mayor Clarence Fields will try to negotiate a settlement of the debt.
Pineville officials don’t think it’s fair that the IRS is demanding the money for the back Social Security payments, but the city’s appeals during the past several months have not been successful. Now the city has to do something to resolve the matter or else the amount could grow even more with each passing quarter.
Read more: www.thetowntalk.com/story/news/local/pineville/2016/05/11/pineville-seeks-settle-12-million-owed-irs/84218454/
Last fall, city officials said the IRS wanted the city to pay $1.2 million for missed Social Security payments. That amount apparently was for the three-year period of 2011-13, which was mentioned in an IRS letter to the city, plus an added amount from 2014.
But the meter has been running since then so that the amount owed is now calculated to be around $2.3 million.
Mayor Clarence Fields will try to negotiate a settlement of the debt.
Pineville officials don’t think it’s fair that the IRS is demanding the money for the back Social Security payments, but the city’s appeals during the past several months have not been successful. Now the city has to do something to resolve the matter or else the amount could grow even more with each passing quarter.
Read more: www.thetowntalk.com/story/news/local/pineville/2016/05/11/pineville-seeks-settle-12-million-owed-irs/84218454/