What It's Like to Be a Tax Collector

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As controller for a manufacturer,

I was audited several times in a business setting by IRS agents. I met both types--a couple of really nice guys and a couple of them who had obvious "attitude" issues.

Fortunately for me, I worked for very ethical people who delighted in actually obeying the tax laws----laws, I might add, that were much more onerous then than now. We had squeaky clean books so the audits were a hassle but not a "problem".

As for not paying "employment" taxes, you absolutely CANNOT withhold income and FICA taxes from employees and use the cash for something else. Never.

Muser of NM @ Apr 15, 2009 12:32:01 PM

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New Money

Katy Marquardt, a senior editor at U.S.News & World Report, takes a contemporary look at happenings in the financial world and aims to help young investors get going with their portfolios--or just sound cool at cocktail parties. Have a question? E-mail Katy at newmoney@usnews.com

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