Stimulus Fund Recipients Owe Taxes


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.

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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.

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