Mayor: IRS says Gould isn't able to pay back taxes
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| Updated: 11/02/2011 5:59 pm |
Published: 11/02/2011 5:55 pm |
GOULD, Ark. (AP) - The mayor of a small city in southeast Arkansas says the Internal Revenue Service won't actively collect hundreds of thousands of dollars the city owes in back taxes.
Gould Mayor Earnest Nash said Wednesday that the city owes about $300,000 to the IRS, mostly from unpaid payroll taxes.
A spokesman for the IRS declined to comment.
A letter addressed to the city from the IRS says Gould is unable to pay the money it owes. Nash says the city still has to file future tax returns and pay all amounts it owes on time.
Nash says he's thankful for the break from the IRS because he says the city of 800 can't recover from such a big debt.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
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