BUSINESS
08/06/2008 05:12 am ET | Updated May 25, 2011

Businesses Stiff IRS $58 Billion In Unpaid Payroll Taxes

Businesses have shorted the Internal Revenue Service about $58 billion in federal payroll taxes they withheld from employees' wages over the past 10 years, congressional investigators have found.

The Government Accountability Office says in a report to be published today that 1.6 million businesses did not forward to the IRS taxes they collected for employees' federal income taxes, Social Security and Medicare payments.

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