The American Recovery and Reinvestment Act (“Recovery Act”) enacted on February 17, 2009, appropriated $275 billion to be distributed for federal contracts, grants and loans. As of March 25, 2011, $191 billion of this $275 billion had been paid out. The Government Accountability Office (GAO) was asked to determine if Recovery Act contract and grant recipients have unpaid federal taxes.
At least 3,700 Recovery Act contract and grant recipients are estimated to owe more than $750 million in known unpaid federal taxes as of September 30, 2009, and received over $24 billion in Recovery Act funds.
This represents nearly 5 percent of the approximately 80,000 contractors and grant recipients in the data from www.Recovery.gov as of July 2010.
Federal law does not prohibit the awarding of contracts or grants to entities because they owe federal taxes and does not permit the Internal Revenue Service (IRS) to disclose taxpayer information, including unpaid federal taxes, to federal agencies unless the taxpayer consents.
The estimated amount of known unpaid federal taxes is likely understated because IRS databases do not include amounts owed by recipients who have not filed tax returns or understated their taxable income and for which IRS has not assessed tax amounts due.
GAO selected 15 Recovery Act recipients for further investigation. For the 15 cases, GAO found abusive or potentially criminal activity; that is, recipients had failed to remit payroll taxes to IRS.
Source: “Thousands of Recovery Act Contract and Grant Recipients Owe Hundreds of Millions in Federal Taxes,” Government Accountability Office, April 28, 2011.
For text:
http://www.gao.gov/products/GAO-11-485
This is not my parents and grandparents America. My God we have fallen into an abyss!
OK
LAST week we didn’t want businesses to pay taxes because they just pass them on to the consumer.
THIS week, you’re complaining about businesses not paying enough in taxes!
I think your moral compass is broken.
Not complaining about that part at all, you are confusing apples with oranges Quentin. It’s just odd that government would have no problem loaning out millions of dollars to people who owe them millions of dollars.
We do support obeying the tax laws no matter how rediculous, unfair, or unproductive they may be.
We do believe in paying taxes due according to law.
we believe in changing the tax law through the political process.
There’s a difference between realizing that taxes on business result in higher prices for consumers and looking the other way when business has failed to follow the laws and/or pay taxes due.
“We do believe in paying taxes due according to law.
we believe in changing the tax law through the political process.”
Ah yes.
Do you support a tax law that is equitable for all?
Would you support repeal of ALL laws which give breaks to some but not others?
Q: “Do you support a tax law that is equitable for all?”
This is hardly specific enough for me to feel comfortable answering. What did you have in mond and what do you mean when you say equitable? Some people believe it’s fair for many citizens to pay nothing and the rich pay the lions share. I don’t call that equitable.
“Would you support repeal of ALL laws which give breaks to some but not others?”
Tax laws give breaks to all kinds of “others”. For instance a large portion of the coubntry pays zero taxes and some of those get subsidized through the EIC and the child tax credit. I’m not in favor of subsidies generally.
I have already said I want the tax code simplified. There are several ideas out there that might work. I do not favor a vat tax because it adds too much to the price of manufactured goods but I would be willing to support a national sales tax that replaced other taxes. I have also considered the flat tax. Our tax code is too complex and it changes too often…this should not happen if we want people to comply and pay what is owed. I also think it would be good for all citizens to have some stake in government and laws should be written that “encourage” savings and independence rather than dependence on government.
Clear enough?
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