Heinz Kerry Tax Return Shows She Is Due Refund

Los Angeles Times ^ | October 16, 2004 | Ralph Vartabedian, Times Staff Writer

[Ernest_at_the_Beach]

Teresa Heinz Kerry released a portion of her 2003 federal income tax return Friday, indicating that she was due a tax refund of a quarter million dollars from the Internal Revenue Service.

Kerry, wife of Democratic presidential nominee Sen. John F. Kerry, provided more details about her income and taxes after a preliminary estimate was disclosed in May.

The first two pages of her 1040 form show that she had taxable income of $2.8 million and income from tax-exempt municipal bonds of $2.2 million — a total of $5 million.

[Always Right]

How many loopholes does a Billionare have to use to show a taxable income of 2 million?

[Founding Father]

Didn't realize her legal name is Heinz and she adopted Heinz-Kerry for the election.

[mewzilla]

Teresa Heinz Kerry released a portion of her 2003 federal income tax return Friday...

Gee, only a portion? Wonder why...?

[sinkspur]

A refund?

I read that the New York Times has an estimate that Heinz-Kerry actually made closer to $50 million, and only paid 1.2 percent of that in taxes.

It's posted somewhere here.

[Freepdonia]

Gee, only a portion? Wonder why...?

No, you don't. :-)

[Prime Choice]

I don't fault THK for getting a refund. That's what tax credits are supposed to do: return money to those who can use it more wisely than the government (which isn't very hard, really).

What burns my biscuits is that THK and JF'nK accuse Bush of being some kind of Blue Meanie for championing tax cuts while they themselves (the Heinz-Kerrys, that is) take the money and run.

There's a word for that kind of crap: hypocrisy.

[mewzilla]

I don't suppose we have any forensic accountants among the pajamahadeen, do we?

[atomicpossum]

If she had made estimated payments to the IRS all year, and found that her tax liability was less than that when her taxes were calculated, then she deserves a refund...it's her money.

The question is her deductions, shelters, etc.

[mountaineer]

Here we go: Heinz Kerry Hiding $45 Million in Income, Paid Just 1.2% in Taxes

[socialismisinsidious]

the tax system is this country has got to go...Americans for fair taxation
www.fairtax.org

[TNCMAXQ]

The NY and LA Times are actually reporting this? Maybe it will have some impact.

You think the Bush campaign or the RNC can run ads about this, or will the Dems scream this is a dirty personal attack on poor defenseless Teresa? We can't have that. It's OK for Bill Maher, Maureen Dowd and others to refer to lovely Laura as "stepford first lady" or "a robot" but Heaven forbid anyone say anything negative about Teresa!

I love sarcasm. :)

[Stateline]

Hip Hippy Shake Shake......

[infidel29]

Good, maybe she can scratch a check to help out some flood victims here in the `Burgh! She`s got a mansion overlooking Sharpsburg here in Western PA. After some serious flooding, she popped in just long enough to say, "sorry, I wish I could do something..." Meanwhile an "evil, rich, republican" talk radio host goes out and buys 15 refrigerators and 10 stoves out of his own money and GIVES them away to flood victims. That BASTARD! I guess that`s because he HAD the money since we`re all so damn GREEDY.

[Stirner]

Why doesn't she qualify for the Alternative Minimum Tax?

[Ernest_at_the_Beach]

I have no idea, good question.

[NonValueAdded]

Teresa Heinz (she omits the Kerry on the form) OVERPAID only when she (or her accountants) filed the request for extension. In fact, at the same time the vast majority of us settled up on April 15th, she OWED additional tax as she did not pay enough estimated tax to cover her bill!!! Instead, her accountants forked over $350,000 with the extension - and we must assume they felt like that was enough to cover the potential tax liability - but overpaid by $247,933. Now perhaps she was feeling generous and thought the Bush administration could use the loan of the cool quarter million. Or more likely, her accountants found a way to trim off the quarter million of taxes through loopholes, etc. I'd be pretty upset if they mis-estimated my extension payment by about 1/4 million, wouldn't you be too?

We don't have enough information like schedules A, D, E, and SE, the various statements cited. The whole point of seeing Heinz's tax returns is not to know how much she made or whether or not she deducted Johns old underwear, but rather to understand the potential for conflixts of interest of the wanna-be first family; to see if John is sheltering stuff on her return since for some reason they chose the Married Filing Seperately status, which to most of us is very strange.

Note well the Teresa Heinz blacked out the state she claimed as her tax home. Is that the reason she filed separately? To claim that she lives in PA to avoid paying Massachusetts state tax? Her husband lives in Mass. John, doesn't your wife live with you? Come on John, your own wife is shortchanging the public. Don't you think the rich have an obligation to pay their "fair share"? Better tell your wife.

[NonValueAdded]

Why doesn't she qualify for the Alternative Minimum Tax?

She does qualify and she paid $326,451 of it.

[Oblongata]

"How many loopholes does a Billionare have to use to show a taxable income of 2 million?"

No kidding. She made .2% on her investments. Either she's the worst manager of a billion dollars in history, or she's fudging something.

[Jaded]

I thought she was suppose to release the whole thing, not just a page or two here or there?

I guess it's kinda like Kerry saying he released his records, when it's only the pages that he lied about to get the purple owies.

These people... they are not normal.