Posted on 01/22/2009 10:26:53 AM PST by Daniel T. Zanoza
I'm really getting tired of saying this, but the situation surrounding Barack Obama's presidency would be funny, if it wasn't so sad.
If you haven't heard the latest, supposed financial genius, Timothy Geithner, was confirmed by the Senate Finance Committee by a vote of 18 - 5 on Thursday morning. Geithner was nominated by Obama to be the new Secretary of the Treasury. This all sounds well and good so far, doesn't it? However, there is a little problem of Geithner being a tax scofflaw. Indeed, if it weren't for the fact Geithner was nominated by Obama for the Treasury position, he would still owe the IRS somewhere around $34,000 and Geithner would probably be a better candidate for a TV show, America's Most Wanted, perhaps? But Geithner did the right thing. I'm sorry, let me put it this way. Geithner did what he had to do and paid two years worth of unpaid back taxes. However, he did not pay for the two other years he owed because the statutes of limitations had run out. Huh?
I'm not kidding. The individual who will be the Secretary of the United States Treasury which, by the way, oversees the Internal Revenue Service, only paid his taxes because ...
(Excerpt) Read more at rffm.typepad.com ...
I posted this on another thread concerning the same subject.
The period had prescribed. He didn’t have to pay a thing. What does the IRS give when a taxpayer requests a refund for a prescribed period? NADA. They feel ZERO moral obligation to pay, nor does Congress.
Do I like this guy? No. But if Congress wants to say no to him, they have to allow refunds for the periods they’re making him pay taxes for. I’m sorry, but statutes of limitation cut both ways when taxes are involved. More often than not, they cut against the taxpayer.
Tax evasion by 0bama’s minions will unfortunately end up being only a footnote compared to what we’re likely to see in the next four years.
I’m not sure where you are headed with your comment. The money is not the issue; the fact that taxes were not paid is the issue.
Turbo Tax, BTW, is pretty much idiot proof. My guess is he overrode the program or ignored an error message.
You are urinating in the wind friend.
Democrats dont care and Republicans are eunuch’s.
Sorry. You may not know. The error was discovered after the statute of limitations ran out. In other words, if he had paid too much the IRS would have denied him a refund, no matter how legitimate. In this case, he paid taxes after the period prescribed.
Unless the IRS claims evasion, which would be extremely difficult, the statute has run.
Like I said, if Congress says “no” to a refund after that period, they have to say “no” to an assessment. If they want to claim that he is unpatriotic for not paying taxes due, then they are unpatriotic for not allowing refunds after statute has run.
It’s the pot calling the kettle.
I think the proper word here is FRAUD. Who doesn't know that they have to pay Socialist Security when they're self employed - especially if they applied for a reimbursement of it, like Geithner did.
Error. Yeah, right.
I think I do know.
The standard for becoming Treasury Secretary should include paying his income taxes. This concept is different than the statutory limits on whether the IRS can or cannot assess him for unpaid taxes.
The guy needs to be honest whether he is beyond the statutory time limit or not.
So a taxpayer should pay taxes after a period has prescribed, but the IRS shouldn’t provide refunds after a period has prescribed. Brilliant scheme! The IRS will want to hire you today!
If the IRS can show fraud, then fine. There is a different statute limitation. I’m not going to say the guy should have to pay taxes rightfully due to the G when the G won’t give me a refund of taxes rightfully due back to me for the same period.
If you want to hand over to the government the power to audit and assess with no statute of limitations, I hope they come knocking on your door first. With taxes, you owe until you can prove you don’t. That’s why there’s such a short statute.
If his *not* paying some tiny bit is such a freaking scandal, it as *more* of a scandal that the Congress allows the IRS to keep taxes they *know* were not due, but for which the statute has run.
You’re worried about some dirty dishes in a sink that’s in a house on fire. Put out the fire, then worry about the dishes.
This is silly.
I never said that the IRS should be able to go back beyond the 3 year statutory period to collect taxes.
The issue is having a Treasury Secretary who intentionally falsified his tax returns. That question is still on the table: Did he, or did he not, understate his taxes? It goes to the man’s integrity.
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