Delta community reaches payment settlement with IRS
Published: February 10,2012
METCALFE — The Internal Revenue Service and the town of Metcalfe have agreed on a monthly payment plan to erase a tax debt.
The Delta Democrat Times reports the board of aldermen approved a repayment plan this week of $350 a month.
Officials said the town didn’t pay taxes on town employees for 10 years from 1999-2009. The figure has continued to grow because of interest and penalties.
Town attorney Bennie L. Richard says the town owes more than $500,000.
Richard says the payments will begin in March, for a two-year period at which the IRS will then re-evaluate the town’s financial situation.
“We are at point where the IRS felt that they can make an accurate snapshot of the town’s finances, and we must fulfill our monthly obligation for two years. This will put the town in a position to repay the amount owed after several years,” he said.
The town is suing former mayor Shirley Allen, former town clerk Brenda Gibbs and several former and current aldermen who served in whole, or part, between 1999-2009, in an effort to recoup money through their bonding agent — the Ohio Casualty Company.
If successful, Richard has said the money would be used to pay off the IRS debt.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Jail kitchen supervisor pleads guilty to stealing food
- Warden who lives hundreds of miles from jail resigns
- Ex-MDEQ leader Fisher joins Butler Snow
- Top 10 finalists chosen for C Spire Conerly Trophy
- A BIG CHANGE: New mortgage rules seen bringing increase in pricey mobile home loans
- State’s new banking chief Charlotte Corley has deep roots in the business
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Analyst: KiOR Columbus plant may end up sold as scrap
- DAVID DALLAS: Savor this Thanksgiving and be grateful
- BankPlus recognized for alternative program to payday lending