Council Back Taxes More Than Thought
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posted by Bob at Friday, June 15, 2007
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St. Paul / Council's back taxes more than thought
Pioneer Press
Article Last Updated: 06/14/2007 10:58:59 PM CDT
The Highland District Council owes the Internal Revenue Service and the state of Minnesota more than $69,000, about twice as much as previously thought.
About half of that is in back taxes starting as early as 1998, said Tim Puffer, the treasurer of the community council. The other half covers interest and penalties.
The group likely will hold a special meeting next week to discuss hiring an accounting firm to sort out the financial problems, said board president Bill Poulos.
"We're trying to get a better handle of what this figure is," Poulos said. "As it stands right now, our liabilities exceed our assets."
The housecleaning comes a couple of months after seven new board members, including Poulos and Puffer, were elected to the council. It is not yet clear how the group will pay what it owes, but officers hope to work out a payment plan with the IRS and request that the penalties be waived, Poulos said.
- Laura Yuen
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