TWC Collects $32M In Unpaid Employment Insurance Taxes In'06

Austin Business Journal




April 6, 2007

The Texas Workforce Commission is cracking down on employers who haven't paid unemployment insurance taxes.

Last year, the commission says it recovered $32 million in unpaid employer UI taxes, a 12.4 percent increase from collections in 2005.

TWC collects unemployment taxes from employers for the Unemployment Compensation Trust Fund. The fund in turn provides unemployment insurance benefits to workers who become unemployed through no fault of their own and who are actively seeking work.

Employers who are subject to unemployment insurance taxes include those paying $1,500 in wages in a calendar quarter or having at least one employee during 20 different weeks in a calendar year.

Employers who fail to pay certain mandatory taxes could face fraud charges. Convictions could result in incarceration and restitution.

TWC created its Regulatory Enforcement Division to enforce all statutes within the agency's jurisdiction, from tax to child care programs. In preventing fraud, the agency says its ensuring that funds will be available to all those who meet eligibility requirements.

http://austin.bizjournals.com/austin/stories/2007/04/02/daily36.html

Disclaimer








 Email This Page!



Job Search