Insynq Pays Off IRS


Insynq, which markets online accounting applications, has paid off delinquencies owed to the Internal Revenue Service, which had placed tax liens against the company.Insync paid $429,000 in past tax obligations. The company had revenue of $321,537 for its first quarter ended August 31, up from $300,706 a year ago. The company lost $266,747 in the most recently ended period, a swing from earnings of $1.4 million a year earlier. Last year's income was primarily the result of a $1.8 million gain on forgiveness and settlement of debts.

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