St. Peter Cathedral School Reportedly Owes $300 Thousand to IRS

    FEBRUARY 21, 2013- According to the Erie Times News, St. Peter Cathedral School owes the Internal Revenue Service more than $300 thousand dollars.    

The IRS reportedly filed a $301,376 lien against the school.   

    That money includes interest and penalties.

    This comes after the school reportedly did not send in federal withholding taxes.

    Monsignor William Biebel says St. Peter Cathedral School was supposed to turn over the money quarterly.

    He tells us they fell behind for 5 months over the 2012 year.

    Biebel says this was caused by a lack of cash flow.

    He attributes high utilities, insurance, paying salaries and running the grade school reasons as to why they fell behind.

    He says they are working with employees and parishioners to raise funds. 

Friday morning we will hear much more as Principal Mary Gibson will hold a press conference at 10 a.m. at St. Peter Cathedral School.

    Monsignor William Biebel says the school is working out a payment plan with the government.

    He tells us they have already made one payment.