Skip to comments.Audit discloses (State Treasurer RAT) Cahill campaign failed to pay $15G in state income tax
Posted on 09/05/2010 8:57:58 PM PDT by Libloather
Audit discloses Cahill campaign failed to pay $15G in state income tax
By Matt Murphy
Posted: 09/02/2010 08:54:28 AM EDT
BOSTON -- State Treasurer Tim Cahill took responsibility Wednesday for failing to pay state income taxes on interest earned from his campaign account, calling the gaffe "an oversight" that he moved quickly to correct.
"The good news is that when it was pointed out to us, we paid it, and it was not a huge mistake," he told WHYN radio in Springfield yesterday morning. "I'm not perfect. Nobody is."
Cahill's mismanagement of his own campaign funds, however, gave critics broad leverage yesterday to criticize the independent gubernatorial candidate's campaign message that he would be a strong fiscal watchdog in the corner office.
Cahill admitted Tuesday night that his campaign had failed to pay about $15,000 in income taxes to the state on interest accrued from invested campaign funds.
Republicans, in particular, seized on the disclosure as they attempted to discredit Cahill's candidacy in an attempt to give Republican Charlie Baker a clearer shot at Gov. Deval Patrick.
"Tim Cahill has been so busy trying to hide his position on taxes in order to pander to the voters that he couldn't be bothered to pay his own taxes," said Nate Little, executive director of the Massachusetts Republican Party.
Campaign spokesman Adam Meldrum Tuesday night e-mailed an explanation stating that since 2002 the Cahill campaign had invested a significant amount of campaign funds -- about $3 million -- in interest earning CDs.
(Excerpt) Read more at sentinelandenterprise.com ...
No interest, no penalties......riiiiiiight.
Is that not in Massachusetts? Where the R’s act like D’s act everywhere else?
Being a tax cheat might help him in the polls, or if he loses get him into 0bama’s regime.
That pesky Turbo Tax software-just ask Timmie
Wow ! Invest 3 mil of campaign funds and fund campaign using the intrest. Never thought of advising candidate to do that . Neat! How much did this guy actually raise ? What did he invest in (I know CD’s)to get a 15G fine. Seems to me there’s some big loopholes in the Massachusetts Campaign funds reporting act.
Now THIS will cost at least 4 or 5 votes!