red states rule
05-24-2011, 06:49 AM
Wasn't Joe Biden going to "oversee" who got the stimulus money?
Oh well, this is business as normal as Obamanomics takes America along the "road to recovery"
Thousands of companies and nonprofits reaping billions of dollars from the Obama administration’s economic stimulus program owe hundreds of millions of dollars in unpaid taxes, according to estimates in a new government report.
A Government Accountability Office investigation set for release Tuesday found that at least 3,700 recipients of $24 billion in contracts and grants from the economic stimulus program owe more than $750 million to the government.
Corporate income taxes were $417 million, or about 55 percent of the estimated unpaid taxes, the GAO said. Payroll taxes were $207 million, or about 27 percent, of the total; unpaid excise, unemployment and other taxes totaled an additional $133 million.
Many of the tax-delinquent companies were not subject to regular federal monitoring of tax debt because the federal government didn’t directly pay the recipients, according to the GAO. Much of the stimulus money first went to state governments or primary contractors, which then distributed the money to other recipients and vendors, many of which owed taxes.
http://www.washingtonpost.com/blogs/federal-eye/post/report-stimulus-recipients-owe-750-million-in-taxes/2011/05/23/AFbN229G_blog.html
Oh well, this is business as normal as Obamanomics takes America along the "road to recovery"
Thousands of companies and nonprofits reaping billions of dollars from the Obama administration’s economic stimulus program owe hundreds of millions of dollars in unpaid taxes, according to estimates in a new government report.
A Government Accountability Office investigation set for release Tuesday found that at least 3,700 recipients of $24 billion in contracts and grants from the economic stimulus program owe more than $750 million to the government.
Corporate income taxes were $417 million, or about 55 percent of the estimated unpaid taxes, the GAO said. Payroll taxes were $207 million, or about 27 percent, of the total; unpaid excise, unemployment and other taxes totaled an additional $133 million.
Many of the tax-delinquent companies were not subject to regular federal monitoring of tax debt because the federal government didn’t directly pay the recipients, according to the GAO. Much of the stimulus money first went to state governments or primary contractors, which then distributed the money to other recipients and vendors, many of which owed taxes.
http://www.washingtonpost.com/blogs/federal-eye/post/report-stimulus-recipients-owe-750-million-in-taxes/2011/05/23/AFbN229G_blog.html