If your company contracts with the Department of Defense, General Services Administration, or the National Aeronautics and Space Administration (NASA), you have one more reason to be compliant with your federal tax obligations: Effective September 30, 2016, these agencies will no longer award contracts to corporations having delinquent Federal tax liabilities or a felony conviction under any law. This includes any assessed liabilities such as unpaid income tax, employment tax, payroll withholdings, and social security and Medicare taxes that are not contested or paid on time.
For details on this regulation, click here (PDF): https://www.gpo.gov/fdsys/pkg/FR-2016-09-30/pdf/2016-23194.pdf
To learn more about how your company can come into compliance with its Federal tax liabilities, contact one of our attorneys today.
