kennyboy: more taxcheaters ???? What's this
By Doug Palmer
WASHINGTON (Reuters) - Obama's nominee to be U.S. trade representative, former Dallas Mayor Ron Kirk, has agreed to pay nearly $10,000 in back taxes after errors were found in his past returns, the Senate Finance Committee said on Monday.
Kirk is the fifth of Obama's nominees to run into trouble over unpaid taxes following Obama's campaign promises to bring a higher standard of ethics into government.
White House officials described Kirk's errors as minor. "We are confident that Mayor Kirk will be confirmed," said White House spokesman Ben LaBolt.
Senate Finance Committee Chairman Max Baucus, a Montana Democrat, said he believed Kirk was "the right person for this job" and promised to move his nomination quickly. The panel will hold a hearing on Kirk's nomination next Monday.
A review of Kirk's tax returns for 2004 through 2007 revealed he failed to pay income taxes on $37,750 in speaking fees he donated to his alma mater, Austin College.
He also claimed a bigger expense for Dallas Maverick basketball tickets and for tax and accounting fees he paid as a partner in his law firm than he was entitled.
The panel also found errors in Kirk's charitable deductions that prompted him to revalue a television set he donated at $1,500 instead of $3,000.
Kirk, who was picked by Obama in December for the trade job, told the panel he initially believed the speaking fees he received were not taxable because he gave them to Austin College to fulfill a scholarship pledge.
However, last October, Kirk paid $2,327 in back taxes and interest charges for a speaking honorarium and dividends he failed to report as income in 2006 after the Internal Revenue Service spotted the error, the panel said.
That prompted the Finance Committee to examine whether Kirk should have reported all of the speaking fees he gave to Austin College as income, the panel said.
Kirk met with the Finance Committee staff on February 19 to answer questions about his past returns and submitted additional information to the committee last week.
Republicans said they were still reviewing the tax errors and the steps Kirk has taken to correct the approximately $9,975 in back taxes he owes.
U.S. Treasury Secretary Timothy Geithner had to pay $34,000 in late self-employment taxes, but still won confirmation by the Senate.
Labor Secretary Hilda Solis faced questions over her husband's business taxes and was also confirmed.
But Tom Daschle, Obama's first choice to be health secretary, withdrew from consideration after paying $140,000 in back taxes and penalties.
Nancy Killefer, Obama's choice to oversee budget and spending reform, also withdrew over tax issues.
(Additional reporting by Caren Bohan; editing by Jackie Frank)
WHAT OTHERS HAVE SAID ABOUT THIS NEWS STORY (SHOW) What's this?
RIGHT ON ROBIN
POSTED BY: jim on TUE, MAR 03, 2009 01:37 PM -0500
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the rich love the riches! They do what they can toi hang onto them-
POSTED BY: tweeter on TUE, MAR 03, 2009 12:59 PM -0500
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Yahoo It would be nice to actually see what others are posting why have the comment box if you can't read the comments, it's been weeks. Shouldn't someone at Yahoo catch this buy now, O I forgot it's not google oops
POSTED BY: Robin on TUE, MAR 03, 2009 12:25 PM -0500
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So glad Kirk has agreed to pay back taxes. What integrity! The rest us we don't make enough to find loopholes or create them where they don't exist. I'm as starting to waver just a tiny bit on my huge support for Obama although the alternative is just awful.
POSTED BY: Arnie. on TUE, MAR 03, 2009 12:08 PM -0500
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With Kirk's thinking, if I give a thousand dollars to charity then I don't have to declare a thousand dollars in earnings. Any ordinary reasonable person would see that as double dipping. Both he and his so called tax accountant are either stupid, dishonest or pushing the envelope. Its about time that Obama hires a real tax accountant to review the taxes of his nominees. Americans seem to believe one should give as much as you can to charity and as little as possible to government.
POSTED BY: Arnie. on TUE, MAR 03, 2009 12:01 PM -0500 |
