The Treasury Department may be getting a new look … or two… or three. Just weeks after (now) former Internal Revenue Service (IRS) Commissioner Doug Shulman announced his plans to step down, Secretary of the Treasury Timothy Geithner will also be departing. Since the IRS is a bureau under the Treasury, the Commissioner generally reports…
President Barack Obama, Vice President Joe Biden, Speaker of the House John Boehner (R-OH), House Minority Leader Nancy Pelosi (D-CA), Senate Majority Leader Harry Reid (D-NV) and Senate Minority Leader Mitch McConnell (R-KY) will meet today at 3:00 p.m. at the White House to discuss the (lack of a) budget. Call me cynical (I prefer…
Well, somebody was working today. Treasury Secretary Timothy Geithner sent a letter to Senate Majority Leader Reid (D-NV) advising that the U.S. will hit its debt limit on December 31, 2012. As a result, the Treasury is recommending “extraordinary measures” which could include: suspending sales of State and Local Government Series Treasury securities; determining that…
Despite a helping hand from Charlie Sheen last month, Lindsay Lohan has apparently not yet settled her tax bills. According to the gossip site TMZ (which – hold your fire – has been accurate to date in its account of this story), the IRS has now seized Lohan’s bank accounts for failure to pay her…
Martin Scorsese once said about his work: There’s no such thing as simple. Simple is hard. As taxpayers, that’s what we want, right, simple? I firmly believe that it’s the complexity of the Tax Code that frustrates taxpayers the most – not so much the actual dollars (though I get that we’re not terribly fond of…
In 2009, we had “Geithner-gate”: a string of Obama nominees, including the head of money matters for the country, who were flagged for tax errors, inaccuracies and flat out failing to report income. Treasury Secretary Timothy Geithner failed to timely pay $34,000 in taxes, citing confusion about his independent contractor status. Geithner ultimately blamed TurboTax…
When it comes to economics, the US and UK tend to find themselves on the same page. A recent example is their consolidated front over the need for banking transparency – both countries took a tough approach with respect to the banking secrecy laws of in Switzerland and Luxembourg. But this weekend, the US and…
Sheesh. At this point, it’s almost comical. Only it’s not. Following in the footsteps of Timothy Geithner, Tom Daschle, Nancy Killefer, and Ron Kirk and Health and Human Services nominee Kathleen Sebelius has announced that she made the dreaded “unintentional errors” on her tax returns. She recently corrected three years of tax returns and paid…
In the mood for a little tax tune? Check out tax attorney Anne M. McKinney singing a parody as Timothy Geithner:
Because, at this point, I have to think the answer is no. After a string of Obama nominees disclosed tax issues – including confirmed Treasury Secretary Timothy Geithner and failed nominees Tom Daschle and Nancy Killefer – yet another has been revealed. Ron Kirk, Obama’s nomination for U.S. Trade Representative, owes an estimated $10,000 in…
