The Obama - Clinton Disaster Message Board

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Politics : The Obama - Clinton Disaster

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To: DuckTapeSunroof who wrote (6308)	2/3/2009 1:36:50 PM
From: pompsander	Read Replies (3) of 103300

Aren't taxes fun....? ______________________ Geithner's credit A reader notes a neglected fact about Tim Geithner's repayment of his 2001 and 2002 taxes: Though he recently sent in a check for them -- along with the 2003 and 2004 taxes, which he had paid earlier -- that was more a matter of appearances than an actual tax payment. Geithner hadn't originally paid the earlier years, Slate and my reader speculate, because those taxes were no longer due. There's a three year statute of limitations on tax audits. And what's more, he'll be getting that money back. "The IRS can't accept money it isn't owed—and after three years, you legally don't owe the money anymore. In all likelihood, the agency will return the unowed back taxes to Geithner," writes Chris Beam. "Now, if he were truly regretful for his his error, he could still make a (tax deductible) gift to the United States Government for that amount. But he didn't. Instead, he pretended to pay the taxes he didn't owe," grumbles my Upper Midwestern reader. politico.com

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