TARP recipients almost current on unpaid taxes

Federal corporate income taxes accounted for the majority of amounts outstanding, with more than $400 million being owed when the program began. More than $12 million of the $400 million figure was overdue by more than 6 months.  

House Ways and Means Oversight Subcommittee Chairman John Lewis (D-Ga.) hosted a hearing on the issue in March of 2009, and revealed that 13 of the top TARP recipients owed more than $220 million in unpaid federal taxes. He called on the inspector general to examine the matter.  

"It is important for taxpayers to know that the Congress and the administration are working together to oversee the TARP recipients," he said Monday in prepared remarks. "To maintain public confidence, we must ensure that those who benefit from federal programs timely pay their fair share of taxes."