Three Firms Missed Big Tax Payments Tied to 2017 Law: Watchdog

Three companies are delinquent in making their payments on nearly $11.7 billion in taxes they still owe from the 2017 tax law, according to a Treasury Department watchdog.

The companies have missed required installment payments on the $11.7 billion and appear to be “noncompliant with their obligations,” said J. Russell George, the Treasury Inspector General for Tax Administration, in a letter to Senate Finance Committee Chairman Ron Wyden (D-Ore.) that was obtained by Bloomberg Tax. The Oct. 14 letter doesn’t identify the companies.

Under the law, the missed payments could lead to the entire $11.7 billion immediately coming ...