Bull Shoals owes IRS money from back taxes - KATV - Breaking News, Weather and Razorback Sports

Bull Shoals owes IRS money from back taxes

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BULL SHOALS, Ark. (AP) - The city of Bull Shoals owes the Internal Revenue Service money, but how much depends on who you talk to.

The Baxter Bulletin reports (http://bit.ly/1yVsV9M ) money was withheld from employee paychecks but never sent on to the IRS. Now, the city is awaiting a report from the IRS.

An accountant hired to straighten out the city's books reported an estimated figure to the council and mayor Thursday night. Council member Phil Friese says the amount is more than $95,000, not including penalties and fees.

Mayor Bruce Powell says officials should wait until they hear from the IRS about what the figure is. Powell says none of the employees have been hurt by the issue because the money was taken out of their paychecks, but not sent on to the IRS.

Information from: The Baxter Bulletin, http://www.baxterbulletin.com

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