From Fox News: Thousands of companies that cashed in on President Obama's economic stimulus package owed the government millions in unpaid taxes, congressional investigators have found.
The Government Accountability Office, in a report being released Tuesday, said at least 3,700 government contractors and nonprofit organizations that received more than $24 billion from the stimulus effort owed $757 million in back taxes as of Sept. 30, 2009, the end of the budget year.
The report said the tax delinquents accounted for nearly 6 percent of the 63,000 contractors and grantees examined, and it cautioned that the real number might be higher because the known tax debt does not measure such factors as income underreporting.
Among the examples was an engineering firm that received a $100,000 stimulus act contract but owed $6 million in taxes. The IRS called it "an extreme case of noncompliance." A social services nonprofit that received more than $1 million in stimulus funds owed taxes of $2 million.Read more: http://www.foxnews.com/politics/2011/05/23/tax-delinquents-collected-billions-obamas-economic-stimulus-plan-report-shows/#ixzz1NFSAbPcO
Words cannot express how I feel about this(that and the beers I had tonight), but come on, if you don't pay your taxes, you should not be able to get free government money, unless there was a contract in place to repay the IRS. Isn't that commonsense?
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