Stimulus Fund Recipients Owe Taxes

more+
less-

Talk about biting the hand that feeds you. Thousands of recipients of federal stimulus funds have not been paying their taxes. The government has dished out more than $24 billion worth of funds to no less than 3,700 such recipients and they owe in excess of $750 million in unpaid taxes.

The government passed its stimulus package in February 2009 and more than 80,000 contractors and other companies benefited from it. However, almost 5% of them have failed to pay income taxes amounting to more than $750 million, according to a report by the Government Accountability Office (GAO). This report was requested by Senators Tom Coburn (R-Okla.), Carl Levin (D-Mich.), Charles Grassley (R-Iowa), Max Baucus (D-Mont.) and Orrin Hatch (R-Utah) for tabling at a hearing of the Senate Permanent Subcommittee on Investigations.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Darrin Mish, Tampa Tax Attorney, The Law Offices of Darrin Mish, P.A. | Attorney Advertising

Written by:

more+
less-

The Law Offices of Darrin Mish, P.A. on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×