insuring that people have the appropriate business records. this here example that you have provided, we only did have 90% of the information as far as the expenditures. now if, if i were to have local folks get hotel rooms and meals and so on, and not issue a w-2, i made a fairly serious allegation as a layman. i m not saying that it s the law exactly, but i could characterize it as tax evasion. if a company didn t do it and the employees, particularly let s just say they re accountants and very knowledgeable of the law, didn t do it, there were no w-2s, no 1099s, essentially no accountability for the revenue that is supposed to be taxed what would you do in that case? we, in that case, mr. chairman, as pointed out in the inspector general s report, you have to look at each situation case-by-case and in that particular
martha: well it looks like the reaction to the jobs market report that came out this morning a bit who he hum on wall street down about 3 and change at 14,900. down about 400 points over the past couple of weeks. we ll keep an eye on it. labor department reported 346,000 americans filed for unemployment claims last week. a decent number, not a big reaction on wall street. bill: monthly number tomorrow. martha: you bet. bill: that will be a big day. deadly protests now, demonstrators facing off with the police, a 7th day in turkey. at least three dead, thousands hurt. amy kellogg watching that from london now. amy. reporter: hi, bill, the prime minister seems to have moderated his tone a bit, he s gone from referring to the protestors, bill as looters to acknowledging
bill: just listening during the commercial break. this is flat-out embarrassing for the irs. it is just one after the other after the other. we ll bring you highlights as we get them here and headlines from the hearing as that continues. there is other news to get to breaking now, martha. martha: a new bombshell that could be devastating for the obama administration has also surfaced this morning. the white house is is on defense following a report that the national security agency is collecting a massive number of phone records in the tens of millions of ordinary americans. watching the number that is calling out to the number that is calling in on your phone records. the white house says such information is quote, a critical tool in protecting the nation from terrorist threats. but while defending the practice they would not confirm if the nsa had asked verizon which is the phone company in question here, to hand over all the customer information. the four-page court order reportedly
value in it. we ll play that in a little bit. here is j. russell george who did the inspector general s report that started the whole ball of wax rolling. here he is. an estimated $49 million for 225 conferences during the three-year period of our review. the conference in california was held at the marriott hilton and sheraton hotels in anaheim in august of 2010 at a reported cost of $4.1 million. the small business self-employed division of the irs conducted this conference for an estimated 2600 executives and managers. as required at the time, the conference was approved by the two deputy commissioners of the irs. we could not validate the accuracy of the $4.1 million conference costs because the irs did not have effective controls to track and report those costs. $3.2 million of the
situation you would look at the individual facts that existed in that situation. in the matter that you re referring to here is, we now have issued w-2s to all of what we characterize as being local travelers after it was brought to our attention by the inspector general in the report that we had not appropriately accounted for all the local travelers, sir. well, i appreciate that. mr. kuntz, i guess i will characterize it to you. it was not in the tax year in which it was earned. so the employees did not voluntarily file as far as we know. i know that is not available to the public but the employees didn t take it on themselves, knowledgeable people, about taxes to say, oh, i ve got to pay taxes on this the employer did not issue the required tax statement to itself, if you will. i characterized it as tax evasion because it can t just be swept under the rug. these were knowledgeable parties on both sides, weren t they? yes. the irs did not issue w-2s.