john smith is the ceo and mary smith is the other owner in a joint held company, have it your way Inc. due to circumstances beyond his control, the company is not doing well john decides to use the $500,000 that was withheld from the employees paychecks to pay the creditors of the company and order additional inventory to try to improve the financial position of the company the irs found out about the missed employment taxes and has sent the company a letter he has come to you a tax professional?

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In the given circumstances these two internal contr... View the full answer