Sometimes When Businesses Are Critically Delinquent on Their Tax Liabilities

question 194

Essay

Sometimes when businesses are critically delinquent on their tax liabilities, the tax authority comes
in and literally seizes the business by chasing all of the employees out of the building and changing
the locks. What does this tell you about the importance of taxes relative to our discussion of cash
flow? Why might a business owner want to avoid such an occurrence?

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Definitions:

Reprimand

A formal expression of disapproval, often in the workplace or educational settings, aimed at correcting undesirable behavior.

Truth

The property of being in accord with fact or reality, often considered as an ultimate standard or objective to be sought.

Social Comparison

The process of evaluating oneself in relation to others, often in terms of abilities, achievements, and social status.

Reprimanding

The act of expressing a strong disapproval or criticism of someone, especially formally.