Comments on: Obama’s Treasury Pick Under Fire for Tax Liability http://www.taxgirl.com/obamas-treasury-pick-under-fire-for-tax-liability/ Paying taxes is painful... but reading about them shouldn't be. Sun, 12 Feb 2012 17:55:29 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: Perry Hints At ‘Simple’ Flat Tax | taxgirl http://www.taxgirl.com/obamas-treasury-pick-under-fire-for-tax-liability/comment-page-1/#comment-25921 Perry Hints At ‘Simple’ Flat Tax | taxgirl Mon, 07 Nov 2011 00:38:27 +0000 http://www.taxgirl.com/?p=2277#comment-25921 [...] Timothy Geithner can file his taxes on time,” making reference (and yes, it’s funny) to Treasury Secretary Geithner’s infamous tax woes from his stint at the [...] [...] Timothy Geithner can file his taxes on time,” making reference (and yes, it’s funny) to Treasury Secretary Geithner’s infamous tax woes from his stint at the [...]

]]> By: What Does Glenn Beck Have in Common with Geithner, Killefer, Daschle, Sebelius and Kirk? | taxgirl http://www.taxgirl.com/obamas-treasury-pick-under-fire-for-tax-liability/comment-page-1/#comment-13385 What Does Glenn Beck Have in Common with Geithner, Killefer, Daschle, Sebelius and Kirk? | taxgirl Sat, 09 Jan 2010 18:38:04 +0000 http://www.taxgirl.com/?p=2277#comment-13385 [...] Secretary Timothy Geithner failed to timely pay $34,000 in taxes, citing confusion about his independent contractor status. Geithner ultimately blamed TurboTax for [...] [...] Secretary Timothy Geithner failed to timely pay $34,000 in taxes, citing confusion about his independent contractor status. Geithner ultimately blamed TurboTax for [...]

]]> By: New Secretary Nominee Hits Bump in the Road | taxgirl http://www.taxgirl.com/obamas-treasury-pick-under-fire-for-tax-liability/comment-page-1/#comment-8590 New Secretary Nominee Hits Bump in the Road | taxgirl Sat, 31 Jan 2009 14:13:15 +0000 http://www.taxgirl.com/?p=2277#comment-8590 [...] First it was Geithner and his self-employment tax issues. [...] [...] First it was Geithner and his self-employment tax issues. [...]

]]> By: Christina Reinert http://www.taxgirl.com/obamas-treasury-pick-under-fire-for-tax-liability/comment-page-1/#comment-8468 Christina Reinert Fri, 23 Jan 2009 19:08:46 +0000 http://www.taxgirl.com/?p=2277#comment-8468 I agree with the above post. Also, having Geithner be the top dog of the IRS/Treasury Dept. is like having the country of Libia on the Human Rights committee at the UN. (and they were!) This is a mixed up world. I agree with the above post. Also, having Geithner be the top dog of the IRS/Treasury Dept. is like having the country of Libia on the Human Rights committee at the UN. (and they were!) This is a mixed up world.

]]> By: Wayne Hagelberg http://www.taxgirl.com/obamas-treasury-pick-under-fire-for-tax-liability/comment-page-1/#comment-8400 Wayne Hagelberg Wed, 21 Jan 2009 16:47:53 +0000 http://www.taxgirl.com/?p=2277#comment-8400 The overriding issue is that a person in the position of Treasury Secretary sets the standard for the organization he oversees, and since his organization enforces the tax laws, the taxpayers also look to him as the standard-setter. There is a lack of confidence in the monetary, financial and regulatory systems. Having a leader who does not understand simple self-employment tax rules does not increase public confidence in these systems. Therefore he should not be allowed to lead the Treasury. The overriding issue is that a person in the position of Treasury Secretary sets the standard for the organization he oversees, and since his organization enforces the tax laws, the taxpayers also look to him as the standard-setter. There is a lack of confidence in the monetary, financial and regulatory systems. Having a leader who does not understand simple self-employment tax rules does not increase public confidence in these systems. Therefore he should not be allowed to lead the Treasury.

]]> By: Fix the Tax Code Friday: SE Tax | taxgirl http://www.taxgirl.com/obamas-treasury-pick-under-fire-for-tax-liability/comment-page-1/#comment-8318 Fix the Tax Code Friday: SE Tax | taxgirl Fri, 16 Jan 2009 10:14:02 +0000 http://www.taxgirl.com/?p=2277#comment-8318 [...] been a lot of focus on Obama’s nominee for Secretary of the Treasury, Timothy Geithner, and his tax woes. Geithner’s tax problems still from the failure to pay self-employment taxes during his stint [...] [...] been a lot of focus on Obama’s nominee for Secretary of the Treasury, Timothy Geithner, and his tax woes. Geithner’s tax problems still from the failure to pay self-employment taxes during his stint [...]

]]> By: Rob Teuber http://www.taxgirl.com/obamas-treasury-pick-under-fire-for-tax-liability/comment-page-1/#comment-8314 Rob Teuber Fri, 16 Jan 2009 00:48:09 +0000 http://www.taxgirl.com/?p=2277#comment-8314 Lets assume that Geithner made a mistake and didn't know he had to pay the missed tax. If so, his mistake was caught on audit (at least for 2 of the 4 years that the problem existed). Catching mistakes is part of what the audit process is about. Following the audit, he paid the 2003 and 2004 tax. The Statute of Limitations on assessing additional tax for 2001 and 2002 had likely expired at the time the audit occured. As such, Geithner could no longer be compelled to pay the unpaid 2001 and 2002 tax. So he didn't, at least not until recently. I doubt that many would voluntarily pay an unpaid tax that they could not be legally required to pay. I'd be suspicious of the motivations of anyone who says they would. If this was a mistake, he didn't do anything wrong. He simply followed the procedures under the tax law. Perhaps a respect for and understanding of the procedures is the kind of thing we need in a Treasury Secretary. That said, it is the perception that he didn't pay his fair share that matters. For that reason, he probably should withdraw from consideration. Lets assume that Geithner made a mistake and didn’t know he had to pay the missed tax. If so, his mistake was caught on audit (at least for 2 of the 4 years that the problem existed). Catching mistakes is part of what the audit process is about. Following the audit, he paid the 2003 and 2004 tax.

The Statute of Limitations on assessing additional tax for 2001 and 2002 had likely expired at the time the audit occured. As such, Geithner could no longer be compelled to pay the unpaid 2001 and 2002 tax. So he didn’t, at least not until recently. I doubt that many would voluntarily pay an unpaid tax that they could not be legally required to pay. I’d be suspicious of the motivations of anyone who says they would.

If this was a mistake, he didn’t do anything wrong. He simply followed the procedures under the tax law. Perhaps a respect for and understanding of the procedures is the kind of thing we need in a Treasury Secretary.

That said, it is the perception that he didn’t pay his fair share that matters. For that reason, he probably should withdraw from consideration.

]]> By: Jeff http://www.taxgirl.com/obamas-treasury-pick-under-fire-for-tax-liability/comment-page-1/#comment-8306 Jeff Thu, 15 Jan 2009 13:40:49 +0000 http://www.taxgirl.com/?p=2277#comment-8306 One thing is for sure the New York Times (Pravda West) won't remember any of the former tax dodgers mentioned above. I agree with Mr. Adamsky; maybe its time we had a grandiose rendition of the Boston Tea Party. With this clown in charge of the IRS................we could withhold our Federal Income Taxes for awhile............or at least until there's 100% transparency for the $$ we gave those crooks in New York who should be wearing orange jump suits. Maddof.............where's James Earl Ray when you need him. One thing is for sure the New York Times (Pravda West) won’t remember any of the former tax dodgers mentioned above. I agree with Mr. Adamsky; maybe its time we had a grandiose rendition of the Boston Tea Party. With this clown in charge of the IRS…………….we could withhold our Federal Income Taxes for awhile…………or at least until there’s 100% transparency for the $$ we gave those crooks in New York who should be wearing orange jump suits. Maddof………….where’s James Earl Ray when you need him.

]]> By: Stan Jedrusiak http://www.taxgirl.com/obamas-treasury-pick-under-fire-for-tax-liability/comment-page-1/#comment-8305 Stan Jedrusiak Thu, 15 Jan 2009 13:11:24 +0000 http://www.taxgirl.com/?p=2277#comment-8305 I don't buy the innocent plea. It's not that easy to omit SE tax. We should find someone with more scruples. I don’t buy the innocent plea. It’s not that easy to omit SE tax. We should find someone with more scruples.

]]> By: Edward Adamsky http://www.taxgirl.com/obamas-treasury-pick-under-fire-for-tax-liability/comment-page-1/#comment-8295 Edward Adamsky Wed, 14 Jan 2009 19:55:33 +0000 http://www.taxgirl.com/?p=2277#comment-8295 I want this guy in. Next time I make a mistake on my taxes, I will point to him and say, "look, if he can't figure out the rules, then how can I?" I want this guy in. Next time I make a mistake on my taxes, I will point to him and say, “look, if he can’t figure out the rules, then how can I?”

]]>