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What happens if an applicant firm or any of its principals fail to pay significant financial obligations owed to the federal government?

April 26, 2017applicant fail financial firm happens obligations pay principals SIGNIFICANT

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What happens if an applicant firm or any of its principals fail to pay significant financial obligations owed to the federal government?

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If an applicant firm or any of its principals fail to pay significant financial obligations owed to the federal government, including unresolved tax liens and defaults on federal loans or other federally assisted financing, the applicant firm will be ineligible for 8(a) program participation.