How Is It That These DC Tax Frauds Don't Have To Pay Penalties Or Interest?

[Me.]

And yes, I mean all of them, pubs and dems alike. I read Geithner who owed tens of thousands didn't have to pay penalties or interest. Now Daschle is up. What do you want to bet he doesn't pay either? When I was audited I got slapped with both, while I still question the deductions they disallowed. It was pay up or else time.

[ellenfl]

1. daschle paid interest in the thousands as did geithner.

http://74.125.113.132/search?q=cache:4ZCjimREyREJ:finance.senate.gov/press/Bpress/2009press/prb011309d.pdf+geithner+tax&hl=en&ct=clnk&cd=15&gl=us&lr=lang_en

http://news.yahoo.com/s/ap/20090201/ap_on_go_pr_wh/daschle_taxes

all you have to do is google it. that's what i did. :eyes:

ellen fl

[Donnachaidh]

4. link?

I'd like to see just how much he paid.

[Cerridwen]

2. They have the best CPAs money can buy.

I've actually known of a couple of cases in which people have had their penalties and interest removed from their tax bill when the CPA sent a letter to the IRS requesting it and explaining the taxpayer wasn't trying to defraud the IRS but had just screwed up or life had gotten in the way of them doing their civic duty. Nope, I'm not kidding.

Depends on the IRS auditor and the CPA and the reason(s) for the screw up.

[lisa58]

3. Daschle paid nearly $12,000 in penalties

[Donnachaidh]

5. link? n/t

[Bluenorthwest]

9. And Geithner?

Penalties and interest figures please. The OP's story is my story as well.

[endarkenment]

6. How is it that you didn't bother to check one single fact here?

[treestar]

7. They may settle cases

There may be a case to be made under tax law that they should get the deduction, etc. The IRS is not infallible and you can challenge it and sometimes they settle the case. You can go through the tax court and if you don't like the tax court's decision, you can go into the federal courts themselves. Like any other litigation, it can go on for years. Sometimes the IRS prefers to settle. It may even think it has a rocky legal position and may lose in court, establishing a precedent.

[onenote]

8. How is it that you don't know what you're talking about?

I read Obama wasn't born in the US -- doesn't make it true.

And while you may have read that Geithner didn't pay interest, that's wrong too. And Daschle is paying interest as well.

Yes the IRS waived penalties on Geithner and they may waive them for Daschle. But the IRS frequently waives penalties when back taxes are paid in full witn interest.