Contemplating Options

[illusiongrl]

Long story short: boss hires friend to do taxes. friend charges exorbitant rate, doesn't sign as preparer, cheats like mad. Boss doesn't really understand what's going on but is happy to be doing okay on taxes. Boss inevitably gets audited. Boss is now on the stick for about 60k in taxes, which must be paid in an excruciatingly short time period. I

Comments

Opinion

[ladyravenfyr]

I'm thinking that unless you really don't want to work for him anymore, he should take the responsibility for his lack of business acumen and make the sacrifice, not you. Taxes payments can be set up on a reasonable payment plan, as long as he gets in touch with the IRS before the lump sum is due and makes arrangements. Yes, there is interest but there is no penalty if he sets it up before it's due. Yeah, never have friends help with taxes. That is exactly what left me with a 2-year payment plan that I just finished paying off.
Hugz!