Tim Geithner's Tax Code - WSJ.com »
Posted By speedmaster 11 months, 1 week ago in Political NewsAccording to Mr. Geithner, he initially failed to pay payroll taxes on income he received from the International Monetary Fund in 2001, and then repeated the error in the three subsequent years, despite the help of an accountant. Apologizing to the committee, he took responsibility for what he called "careless" and "avoidable" mistakes while insisting they were unintentional. He acknowledged signing an IMF statement at the time that he understood he had been reimbursed to pay those self-employment taxes, adding that he should have read the statement more carefully. Millions of Americans have said the same thing about the tax code during an IRS audit, earning less forgiveness.
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