ACCOUNTS PAYABLE AND ACCRUED EXPENSES
|6 Months Ended|
Jun. 30, 2021
|Payables and Accruals [Abstract]|
|ACCOUNTS PAYABLE AND ACCRUED EXPENSES||
7. ACCOUNTS PAYABLE AND ACCRUED EXPENSES
Accounts payable and accrued expenses are summarized as follows:
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES
As of June 30, 2021 and December 31, 2020, approximately $2.5 million and $3.0 million, respectively, of employee and employer payroll taxes and associated interest and penalties have been accrued but not remitted to certain taxing authorities by the Company. These accruals are for periods prior to 2019 for cash compensation paid and are reflected as a component of the accrued taxes line above. As a result, the Company is liable for such payroll taxes and any related penalties and interest. Tax authorities have placed liens on certain of the Company’s cash accounts, which accounts had a total balance of $36,905 at June 30, 2021.
Amergent Hospitality Group, Inc and Subsidiaries
Notes to the Condensed Consolidated and Combined Financial Statements
The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef