Geithner previously had agreed to similar adjustments to his self-employment tax for tax years 2003 and 2004 after his returns were examined by the IRS. The IRS waived penalties for those years. The remaining adjustments on the amended returns resulted from a variety of issues identified during a review of his returns by Finance Committee staff during the nomination process.
link to article here...
This is more than just a simple mistake...
Rob, you are correct...
I know a bankruptcy is the kiss of death in regards to employment with a brokerage firm. They look at credit ratings, everything. I need to check with my CPA and CFP friends, my guess is those their titles go bye-bye if they did this.
Ions ago I had a co-worker that had his check attached by the IRS for back taxes. If he had worked for another employer in the area ( another coworkers dad told us this the employer was UTC) they would have fired him, it was unacceptable.
On Glenn Beck Today either an Attorney or CPA called and said it is grounds for disbarment as an Attorney and I am not sure about the CPA.
This is the CLINTON's round 3, "It depends what you defintion if is, is" Mentality all over again.....
sounds to me that Geithner filed the returns, listed the IMF pay as income and omitted a self-employment tax return, hoping that the auditors would miss before the three-year audit deadline passed. They caught him for 2003 and 2004, but not for the preceding years