What was the change in due from IRS for All Team in 2023?
All_Team Franchise · 2025 FDDAnswer from 2025 FDD Document
findings, and certain internal control related matters that we identified during the audit.
Tampa, Florida
May 30, 2024
ALL TEAM FRANCHISE CORPORATION BALANCE SHEETS
AS OF DECEMBER 31, 2023 AND 2022
| 2023 | 2022 | |
|---|---|---|
| CURRENT ASSETS | ||
| Cash | $ 1,015,879 | $ 894,307 |
| Accounts receivable-trade, pledged, | 1,075,420 | 2,468,379 |
| less credit losses of |
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 changed from zero in 2022 to $49,780 in 2023. This increase is reflected in All Team's statement of cash flows, specifically within the changes in account balances related to operating activities.
This figure indicates that All Team had a claim or refund due from the IRS at the end of 2023 that it did not have in the previous year. This could be due to overpayment of taxes, tax credits, or other factors that resulted in the IRS owing money to the company.
For a prospective franchisee, this specific change in the 'Due from IRS' account is less directly impactful than other financial metrics like revenue or net income. However, it provides a more complete picture of All Team's financial management and tax strategy. It is advisable for potential franchisees to review the complete audited financial statements and consult with a financial advisor to understand the broader implications of these figures.