Wednesday, January 14, 2009

Obama's Treasury pick didn't pay taxes

Rutland Herald
Geithner failed to pay self-employment taxes for money he earned from 2001 to 2004 while working for the International Monetary Fund, according to materials released by the committee Tuesday.
He paid some of the taxes in 2006, after an IRS audit discovered the discrepancy for taxes paid in 2003 and 2004. But it wasn't until much later - days before Obama tapped him to head Treasury late last year - that Geithner paid back most of the taxes, incurred in 2001 and 2002. He did so after Obama's transition team found that Geithner had made the same tax mistake his first two years at the IMF as the one the IRS found he made during his last two years there.

Senate Majority Leader Harry Reid, D-Nev., dismissed the events as "a few little hiccups," and said he was "not concerned at all" about the impact.

Apparently it's a "common" mistake and was unintentional. Another case of different rules for different folks or is Obama's administration going to ever so ethical just like Pelosi's House?

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