PAYROLL TAXES PAYABLE
|9 Months Ended|
Sep. 30, 2018
|Payroll Taxes Payable|
|PAYROLL TAXES PAYABLE||
NOTE 9 – PAYROLL TAXES PAYABLE
In 2009 and 2010, REGS, a subsidiary of the Company, became delinquent for unpaid federal employer and employee payroll taxes, accrued interest and penalties were incurred related to these unpaid payroll taxes. The Company is currently in discussions with the IRS regarding the unpaid payroll taxes.
As of September 30, 2018, and December 31, 2017, the outstanding balance due to the IRS was $1,014,200, and $997,700, respectively.
Other than this outstanding payroll tax matter arising in 2009 and 2010, all state and federal taxes have been paid by REGS in a timely manner.