As a result of the City’s failure to issue tax forms to attorneys for certain settlement payments, an IRS audit sought over $3 million from the City, but is now resolving the issue with a $116,416 payment.

The Internal Revenue Service’s audit focused on the City’s settlement payments for years 2017 to 2019.

Read More: https://www.smdp.com/city-originally-estimated-to-owe-irs-over-3-million-settles-with-116416/207111