facebook
twitter
rss
account
search
search
 

Rep. Lewis: Bailed-out firms owe IRS

March 19, 2009 at 2:55 PM   |   Comments

| License Photo
WASHINGTON, March 19 (UPI) -- Thirteen financial companies getting assistance under the Troubled Assets Relief Program owe $220 million in back taxes, U.S. Rep. John Lewis said Thursday.

Lewis, D-Ga., who is chairman of the House of Representatives Ways and Means Oversight Subcommittee, said he examined the 23 companies getting the biggest share of bailout money, The Washington Independent reported. He reported that two in the group are the biggest offenders, in debt to the Internal Revenue Service by more than $100 million each.

Neil Barofsky, in charge of oversight of the TARP program, said that companies must certify that tax payments are up to date as a condition of getting aid.

Lewis didn't release the names of the companies for legal reasons, The Hill reported.

"We want to get to the bottom of what is going on here. The taxpayers deserve nothing less than the truth," he said.

© 2009 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Celebrity Couples of 2014 [PHOTOS]

Celebrity Couples of 2014 [PHOTOS]

Most Popular
1
Texas man on trial for 'public execution' of drunk driver
2
Northrop Grumman developing reusable space plane for lifting spacecraft into orbit
3
Construction on Russian gas line to China slated for September
4
American photojournalist James Wright Foley executed by Islamic State
5
Britain pardons World War II code-breaker castrated for homosexuality
Trending News
Video
x
Feedback