IRS committed to collecting back taxes
WASHINGTON (CNN) - A spokesman for the IRS said Thursday that the agency "stands ready to take collection action if the need arises" to get back taxes from 13 still unnamed companies that received billions of dollars in federal bailout money.
"The IRS has every expectation that these amounts will be paid and is committed to collect every dollar of taxes that are owed," IRS spokesman Frank Keith said in a statement.
Georgia Rep. John Lewis, chairman of a House subcommittee overseeing the federal bailout, first revealed at a hearing on Thursday morning that 13 companies receiving stimulus money owed over $220 million in back taxes. Keith said the IRS will closely monitor the companies and take action to make them pay, if necessary.
"The IRS recognizes that those entities that receive taxpayer support have a special obligation to pay their taxes, and these taxpayer accounts will remain closely monitored by the IRS to ensure that the full amount of taxes due are paid," Keith said. "The IRS stands ready to take collection action if the need arises."
Keith said the IRS gave Lewis' committee tax information related to TARP recipients. He noted that there could be a number of reasons why the companies did not pay all of their taxes and that having an unpaid balance "does not signal any intent not to pay."
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Let IRS start with our congress people first and get all the taxes they owe. Start with Charlie Rangel!!
They are more INTERESTING in getting back taxes from you and I.
What an ugly circle of financial inequity this country has become.
Ah, my tax dollars at work, creating more tax dollars from my tax dollars?
That gives me a headache just trying to figure out what is being said!
Had they been this tenacious with Obama's appointees, we probably wouldn't be in our economic 'downturn'. Typical knee-jerk government reaction.
QUOTE:
"the IRS said Thursday that the agency "stands ready to take collection action if the need arises" to get back taxes from 13 still unnamed companies that received billions of dollars in federal bailout money."
Notice what they DIDN'T mention? Getting back taxes from democrats.
Attack businesses – that's what a good socialist government agency does.
These companies recieving TARP need to proide Congress with ALL of their outstanding debt. TARP isn't going to fix the problem if the companies don't even know how much in debt they are.
So, they're going to collect back taxes from those 13 businesses.
What about any other businesses that owe back taxes and didn't receive TARP funds? What about Politicians, CEO's, Celebs and the average joe's who also have back taxes?
The wording they chose to use is just odd and frustrating.
they should check all the members of congress first with the money this group has scammed you could probably balance the budget
Ray Ray, getting back taxes does not involve Democrats or Republicans, it involves anyone who did not pay taxes. The most damaging thing to this country is people who cannot think outside of their ideology or political affiliation. Worriedmom, I know that's right, Charlie Rangel needs to be SILENT.
This is stupid. Is that what the bailout money is for? Paying back taxes? I thought it was to stimulate the economy? The IRS is acting just as bad as the banks; wanting their piece of the bailout pie, instead of helping out the ultimate recipients.
Start and Get all the money back that was given to the campaigns for
Chris Dodd and Barack Obama.
They both took the most money from AIG. Jokers
Isn't it ironic that Congress has their own bank and they have outstanding bounced checks.
Yet we elect these jerks to write laws that benefit them and their donors and screw the rest of us.
I lost all the equity in my home because of these jerks and I am MAD.
Is anyone surprised that companies that needed a bailout can't pay their taxes?
Why wait??? Start with Charlie Wrangel.
They can start with a large percentage of politicians!
The first place they should look is the new cabinet. I've heard that anyone picked to work in the new administration is likely to owe a little something to Uncle Sam.
I dont know. We have already given the money I dont think we should take it back. If you do, it should be 50% off but not 90%.
One trillion dollars in Tresuary BOnds.
Obama hands the Tresuary Department an IOU for 1 trillion dollars.
We would be getting billion of dollars in revenue if we could drill for oil and tap natural gas.
Billions and billions for our country. and
Instead of drill baby drill
Its
Print baby Print
Its called inflation baby inflation
GOLD Buy GOLD.
We are so screwed!
First stop should be Nero's cabinet.
Then Charley Rangels house........
Pick a Democrat any Democrat.
Ya, we are way off base here.
One and done Barry, the experiment failed.
My word, why would anyone ever want to take any money from the government ever again? All it brings is unwanted attention to your unscrupulous behavior...
Go get em, IRS!! It's about time we have an Administration that is challenging CORRUPTION in this Country! The bottom line is MOST of the banks, and fiancial institutions in America, and throughout the world are nothing but CROOKS!!! And Wall Street stinks of the same smell - skunks!!
I'd like to know if John Lewis has paid his taxes.