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Stimulus Recipients Owe $750 Million in Taxes Stimulus Recipients Owe $750 Million in Taxes

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Homepage / ECONOMY

Stimulus Recipients Owe $750 Million in Taxes

May 24, 2011

Thousands of companies and organizations that received stimulus money from the Obama administration owe millions in back taxes, according to a new report by the Government Accountability Office.

The report, released Tuesday, found 3,700 stimulus recipients owe the government more than $750 million in taxes. Corporate taxes made up for about 55 percent of the unpaid taxes, the GAO said.

Many of the delinquent companies weren’t subject to federal monitoring for tax debt because the federal government didn’t directly pay the recipients, the report found. Current law doesn’t restrict companies owing taxes from conducting business with the federal government.

 

The White House told the Washington Post that the administration collected approximately $100 million in taxes from delinquent contractors in 2010.

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