Thirteen companies that got money from the Treasury Department under the Troubled Asset Relief Program are delinquent on their taxes, congressional investigators say.
That revelation was the latest in a series of bailout-related bombshells to hit Washington this week.
According to the House Ways and Means Committee’s oversight panel, the delinquent companies owe as much as $220 million in income or employment tax to the federal government. The panel reviewed the Internal Revenue Service files of only the top 23 recipients of TARP money.
— Bailed-Out Companies Owe $220 Million in Taxes – BailoutSleuth
And the hits keep coming…
How could we possibly fix this? Oh! I know, throw more money at it!