What was the amount due from IRS for All Team in 2023?
All_Team Franchise · 2025 FDDAnswer from 2025 FDD Document
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Tampa, Florida March 24, 2025
ALL TEAM FRANCHISE CORPORATION BALANCE SHEETS
AS OF DECEMBER 31, 2024 AND 2023
| 2024 | 2023 | |
|---|---|---|
| CURRENT ASSETS | ||
| Cash | $ 629,272 | $ 1,015,879 |
| Accounts receivable-trade, pledged, | 589,672 | 1,075,420 |
| less credit losses of $63,416 and $57,416, respectively | ||
| Advances to related parties | 1,526,254 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 33)
What This Means (2025 FDD)
According to All Team's 2025 Franchise Disclosure Document, the amount due from the IRS in 2023 was $49,780. This figure is listed as an asset on All Team's balance sheet, meaning the IRS owed this amount to All Team as of the end of 2023.
Specifically, this "Due from IRS" amount is categorized as a current asset. Current assets are those expected to be converted to cash or used up within one year, indicating that All Team anticipated receiving this $49,780 from the IRS relatively quickly.
In 2024, the "Due from IRS" is listed as $0. This suggests that All Team received the $49,780 from the IRS during 2024, or that an adjustment was made that eliminated the receivable. Reviewing successive FDDs will show how these balances change over time, and this can provide insight into All Team's financial management.