Schumer: Payroll Firm Scammed Businesses


Senator Charles Schumer says a Binghamton payroll services firm scammed several Southern Tier businesses.
Most of them now owe thousands of dollars in back taxes to the Internal Revenue Service after their partnership with Aeden Waterford. The head of the company, William Stiles, has not been found.
In mid-August, he sent a letter to clients stating that the company was closing and all accounts were being transferred to Paychex, according to Schumer. At the end of September, it was discovered that Aeden had kept the federal taxes from their clients instead of paying them to the government.
The IRS launched a criminal investigation into Stiles last month.
Schumer is now calling on the IRS to reduce the payments owed for the affected businesses and waive penalties. It is unclear how many businesses were scammed, but Schumer’s office says Aeden Waterford had over 100 clients.

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