The individual is not the sole owner of the corporation although he does have the majority share. There is no written agreement with the corporation.
Unfortunately, there have been 100s of thousand of dollars unaccounted for in this business and it appears money from the corporation is regularly used for the owner's personal expenses.
(the owner shares this information freely)
He also stated he received a communication from the IRS about business money not claimed and I do not want to become involved in anything untoward or perhaps even illegal.
I may be overreacting but I am a small struggling business and do not want any troubles especially with the IRS!
Thank you for your time
Thank you Katie, I sincerely XXXXX XXXXX the delay, there was a site outage which prevented me from responding in a more timely manner. For the invoice(s) submitted for which the owner wants payment made to him personally, you should request that he draft and sign a document on behalf of the corporation whereby the corporation agrees to allow him to accept payment for its services via a negotiable instrument issued to him alone, and that the purpose of the modification in receipt of payment is not for any unlawful purpose. If you make payment to him in his name for services rendered by the corporation, the corporation could later claim that it never received payment. Moreover, a likely reason he is requesting payment in his name personally is that he is trying to evade taxes on the money received or that he does not want to share the proceeds with the other shareholders (i.e. keep the payment off the books). I want to make sure your questions are answered, if this does not answer your questions or if you have any follow up questions please let me know. If I have answered your questions, please positively rate my answers.
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