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Has Properly Paying My Income Tax Prevented Me From Getting A Job In the Obama Administration?
By Stacie Clifford Kitts, CPA
Failure to properly calculate and pay income tax appears to be a job requirement of the Obama administration. In addition to Nancy, Timothy Geithner, Treasury Secretary paid $43,000 in back taxes and interest claiming that he accidentally forgot to the pay the proper amount of payroll taxes on his self-employment income. And, Tom Daschle, the former Senator Majority Leader and nominee for secretary of health recently paid more than $100,000 to the IRS for back taxes and interest related to the use of a car and driver lent to him by a wealthy Democratic friend.
Although I am not surprised, it does make me wonder who is preparing these tax returns. Just who are our lawmakers relying on to advise them as to the proper application of the laws that they themselves created. Mind boggling.
Okay, in defense of the accountants, I understand that some tax laws can be hard to understand. And I don’t expect everyone to know the intricacies of every rule, or even the complete intricacies of their clients lives, but come on. Self employment taxes? Screwing that up is the equivalent of not being able to add 2 + 2. Which equals 4 by the way if Mr. Geithner happens to stumble onto this blog.
Although it appears that Mr. Geithner tried to blame Turbo Tax, the tax preparation software he used for the mistake on his self prepared tax return, Turbo Tax has insisted that the problem is not with their software. Good try though Timmy.
Well, that’s it, I guess I finally know why I haven’t been nominated to any posts in the Obama administration. I don’t have the right qualifications. That is, I have been properly calculating and paying my income tax.
But I would like to take this opportunity to officially offer my services to the Obama administration and to any other lawmaker who would like to step it up and file his or her tax returns properly.
Fannie Mae – Duh Factor
The – oh my gosh – 700 billion dollar – Emergency Economic Stabilization Act – the bailout bill – which passed in October requires Fannie Mae, and other government associated organizations including Freddie Mac, to allow tenants residing in foreclosed properties who continued to pay their rent and who have a valid lease to remain in their homes – “where permissible.” However, despite this requirement Fannie Mae has continued to evict tenants who are paying their rent and who have valid leases.
CNNMoney.com reported that Fannie Mae will implement a policy in January 2009 which will finally comply with the requirements of the Act. This announcement followed New Haven Legal Assistance Associations accusation that the company was not allowing renters in good standing to stay in foreclosed properties.
Um – maybe it’s me, but if Fannie Mae is not abiding by the law, then isn’t the company breaking the law? Has our government gone completely wacky? Why aren’t I reading about some sort of an inquiry or something?
Doesn’t the whole thing make you wonder just how incompetent one must be to screw up the requirements of a multibillion dollar handout? I mean come on ….do you think that if someone handed you a million dollar check with a list of rules to follow, that you would take a minute to read them over and then to follow them.
DUH!
Stacie's Tax Stuff 